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India's Minister for Petroleum and Natural Gas, Dharmendra Pradhan (L-R), Minister of Oil of Iraq, Adil Abd Al-Mahdi, Minister of oil of Iran, Namdar Zangeneh, Venezuela's Minister for Petroleum and Mining, Asdrubal Chavez J, and Secretary General of the International Energy Forum, Aldo Flores-Quiroga, attend an OPEC seminar  on June 3, 2015 in Vienna. (AFP PHOTO / JOE KLAMARJOE KLAMAR/AFP/Getty Images)
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Iran seeking billions to rebuild natural gas industry

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While commodity markets fixate on a return of Iranian oil, the importance of gas in the longer term was underlined Wednesday as BP Plc data showed the Islamic Republic held its position as the nation with the largest proven reserves of the fuel after snatching the crown from Russia in 2011.
Photographer: Akos Stiller/Bloomberg

Alstom, GE to answer regulators’ concerns on sale

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GE and Alstom are walking a fine line as they’re trying to close the deal, attempting to accommodate the commission while sticking firm to its original merger terms.
A Chesapeake Energy storage tank near Dilley, Texas. (Pat Sullivan/AP)

Chesapeake shares fall on downgrade, natural gas drop

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Chesapeake is among energy companies with market values that swing on the price of natural gas.
Categories: Natural gas
(AP file photo/John McConnico)

Norway government loses in drive to expand Arctic oil boundary

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Even as a drop in oil prices makes Arctic exploration less attractive, Norway is betting on success in the Barents Sea, thought to hold more than 40 percent of its undiscovered resources. The Nordic country’s oil output, still western Europe’s biggest, has been more than halved since a 2000 record.
(Andrey Rudakov/Bloomberg)

Eurasia Drilling slumps as Russia fails to rule on Schlumberger deal

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Russia’s foreign-investment commission met Thursday yet didn’t make a decision on Schlumberger’s bid, Natural Resources Minister Sergei Donskoi said by phone, without giving a reason.
Workers prepare drilling pipe on the Petroleos Mexicanos (Pemex) La Muralla IV deep sea crude oil platform in the waters off Veracruz, Mexico, on Friday, Aug. 30, 2013. (Susana Gonzalez/Bloomberg)

Pemex reports its largest oil find in 5 years in Gulf of Mexico

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The discovery won’t affect Pemex’s output forecast of 2.4 million barrels a day this year though will likely alter the company’s estimate to increase production by 500,000 barrels by 2018, CEO Emilio Lozoya said.
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

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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

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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

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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

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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.