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(Alexander Klein/AFP/GettyImages)

OPEC to maintain current oil output

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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

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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

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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

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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

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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.
(ALEXANDER KLEIN/AFP/Getty Images

Oil slumps most in week as OPEC meeting looms

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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.
Iran's supreme leader, Ayatollah Ali
Khamenei (Bloomberg News/ILNA/document IRAN)

What’s OPEC going to do with Iran’s million barrels a day?

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The Organization of Petroleum Exporting Countries’ summit on June 5 to determine the group’s output will come three weeks before a deadline for a deal on Iran’s nuclear program. Iran says it can add almost 1 million barrels to daily production within months of sanctions being lifted.
(Lucas Schifres/Bloomberg)

Methane emissions threaten to undermine natural gas offensive

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Exxon Mobil Corp., Chevron Corp., Royal Dutch Shell Plc, Total SA and BP Plc CEOs spoke in favor of using natural gas that would supplant dirtier coal-fired power. Demand for the energy is seen outpacing oil over the coming decades.
A security guard stands at the Maroun Petrochemical plant at the Imam Khomeini port, southwestern Iran. (AP Photo/Vahid Salemi, File)

Iran could add 400,000 barrels a day of oil after nuclear deal

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Iran’s heavy crude has “a lot of customers,” because many refiners were set up for it, so Iran “will regain their share” after 18 months, an analyst predicted.
Rex Tillerson, chairman, president, and CEO of ExxonMobil Corp. ( Johnny Hanson / Houston Chronicle )

Exxon CEO touts climate benefits of shale gas

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European oil companies including Royal Dutch Shell Plc, BP Plc and Total SA are promoting gas as a way to limit the growth of emissions blamed for climate change. They have also called for a price on carbon dioxide.