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Simone Sebastian

shallow-water-jack-up

McMoRan Exploration has “limited success” in ultradeep well

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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

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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

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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

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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

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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

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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.
windfarm

Environmentalists criticize federally backed Texas offshore wind project

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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

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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

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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

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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.