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Simone Sebastian


McMoRan Exploration has “limited success” in ultradeep well

Mineral blockages at Davy Jones No. 1, an ultradeep shallow water well in the Gulf of Mexcio, have caused trouble for McMoRan Exploration.
(AP Photo/Chuck Burton)

Forecast shows more hybrids, electric vehicles in 2013

With automakers focused on low- and alternative-fuel vehicles, declining gasoline prices have become their “worst nightmare,” said automotive analyst Alan Baum
EPA Administrator Lisa Jackson

EPA Administrator Lisa Jackson resigns

Jackson has drawn the ire of oil industry leaders during her four years at the helm, particularly during an EPA review of hydraulic fracturing.
Categories: General
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(AP file photo/Pat Sullivan)

ConocoPhillips sells Nigerian business

In its latest move to streamline, ConocoPhillips is selling its Nigerian assets in a $1.8 billion deal with Oando PLC.
Categories: Africa
Statoil's Torstein Hole, senior vice president for U.S. onshore, and Andy Winkle, vice president for the Marcellus asset, visit a well pad in the Marcellus shale. (source: Statoil)

Statoil expands Marcellus presence with $590M land grab

The Norwegian oil giant’s latest move to expand its presence in shale will add 70,000 operated net acres to its U.S. portfolio.
Categories: Deals, Natural gas, Shale
ConocoPhillips has completed the sale of its Menzel Lejmat North project in Algeria to Indonesian state-owned oil company Pertamina. (ConocoPhillips photo)

ConocoPhillips to sell Algerian business to Indonesian oil corp

ConocoPhillips has agreed to sell its Algeria business for about $1.75 billion to Indonesia’s state-owned oil company Pertamina, the Houston-based corporation announced Tuesday.

Environmentalists criticize federally backed Texas offshore wind project

Austin-based Baryonyx, which won a $4 million federal grant, said the three-turbine demonstration project is part of a larger 300-turbine plan near South Padre Island.
(Lisa Poole / AP2009)

Phillips 66 to launch offering for MLP

Phillips 66 said it will file an initial public offering for some of its transportation assets in 2013. The company also announced a $3.7 billion capital program for the year, 6 percent higher than 2012 spending.
Royalties from oil production on state lands is pushing Texas' Permanent University Fund toward a record $1 billion in annual revenue. (AP Photo/Hasan Jamali)

Forecast predicts big drop in U.S. oil price

The price of U.S. crude is heading for a precipitous decline that could force the nation’s production surge to slow, according to a BofA Merrill Lynch forecast.
Categories: Crude oil
Wind turbines in South Africa. (AP Photo/Schalk van Zuydam)

Texas offshore wind project wins federal grant

Baryonyx Corporation will recieve a $4 million grant from the U.S. Department of Energy for a three-turbine project in the Gulf of Mexico.