Posts by Author


Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

Crude oil rises to one-month high as U.S. supply seen falling

U.S. output will decline after reaching the highest level since 1972 in May after drillers cut the number of oil rigs to the lowest level in four years. Production from prolific shale formations will fall next month to the lowest level since January.
(AP Photo/Oded Balilty, File)

G-7 calls for zero fossil-fuel emissions by end of 21st century

The Group of Seven is pushing to “decarbonize,” meaning any polluting gases from burning oil, gas or coal must be canceled out by carbon-capture or other technologies by 2100.
Abdalla El-Badri, general secretary of the OPEC (Photo: Chris Ratcliffe/Bloomberg)

OPEC ministers threw support behind market share strategy with silence

About the only surprise to come from OPEC’s decision on June 5 to leave oil output unchanged was that everyone got along.
(Mayra Beltran / Houston Chronicle)

Exxon to get federal money for WWII-related cleanup

Exxon Mobil Corp. will get help from the U.S. government in paying for clean up costs at two refineries that produced billions of gallons of aviation fuel for allied forces during World War II and the Korean War.
(Alexander Klein/AFP/GettyImages)

OPEC to maintain current oil output

The Organization of Petroleum Exporting Countries set its Saudi-conceived strategy of defending market share rather than prices in November. Since then, it has pumped ever more crude into global markets.
Colombian OIL drillers on a Cupiaga rig in the eastern foothills of Colombia.  HOUCHRON CAPTION (10/16/1999):  Oil workers 
lay pipe on a rig in the Cupiagua oil field in the eastern foothills of Colombia. The South American nation is hoping to rekindle the interest of U.S. oil companies in investing there.

Thieves get early access to Colombia’s offshore oil data

The incident comes as state-controlled Ecopetrol SA shifts its exploration focus to fields off the Caribbean coast following onshore drilling failures that have contributed to stagnating output after several years of growth. Ecopetrol’s strategy will be to partner with offshore experts, Vice President Max Torres said in a May 26 conference call.
Ryan Lance, ConocoPhillips CEO, speaks during the opening panel discussion of the 2015 IHS Energy CERAWEEK. (Brett Coomer/Houston Chronicle)

Shale is ‘here to stay’ Conoco chief tells OPEC

In June 2012, when Lance spoke at the last biennial seminar held by the Organization of Petroleum Exporting Countries, the U.S. was pumping 6.2 million barrels a day. Now, it produces 9.5 million barrels at day, the highest since 1972.
(AP Photo/ Nabil al-Jurani, File)

Iran and Iraq declare their plans to expand oil production

The Organization of Petroleum Exporting Countries has been pumping above its production quota for months, determined to subdue supply from higher-cost producers. The strategy is working, with a record drop in the number of active U.S. rigs and billions cut from global producers’ spending plans. In contrast, some of OPEC’s members spent this week outlining how they plan to expand output.
Senior project engineer Andy Aronson, left, and operations engineer Joel Vincent examine equipment at the Siluria Technologies plant in La Porte, where the company is testing processes it says could reduce the costs of making chemical building blocks and motor fuels from natural gas
Siluria Technologies at Braskem chemical plant on Friday March 27, 2015 in La Porte, Texas. 

Photo by Aaron M. Sprecher

Brazil’s biggest petrochem company considering Gulf Coast for massive natural gas project

The factory would produce at least 1 billion pounds (450,000 metric tons) of resin a year and would be the U.S. polypropylene industry’s first world-scale project in about 12 years, said Mark Nikolich, a vice president at Braskem.

Oil slumps most in week as OPEC meeting looms

Oil slumped last year as the Organization of Petroleum Exporting Countries maintained its production limit at 30 million barrels a day, insisting that suppliers outside the 12-nation group must help tackle a global surplus.