(Tomohiro Ohsumi/Bloomberg)

Why Texas is now home to bargain-hunting Japan oil buyers

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Their move into Houston illustrates the challenge for OPEC as the highest American output in more than three decades lures the group’s traditional customers and benchmark prices tumble.
(Mayra Beltran / Houston Chronicle)

Exxon: North America to be energy exporter by 2020

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The company’s forecast outlined an about 35 percent growth in energy demand across the world through 2040, driven mostly by a growing population and the rise of an energy-hungry middle class in developing countries.
PHILIPPE HUGUEN/AFP/GettyImages

Global gasoline prices don’t look the same as in the U.S.

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Weak global demand and a flood of cheap oil from North American producers are sending the price of gasoline plummeting, but the savings won’t look the same around the globe as they do in the U.S.
A driver refuels her car at a gas station of PetroChina, a subsidiary of CNPC (China National Petroleum Corporation), in Luoyang city, central China's Henan province, 19 August 2014. (File, Bloomberg)

China winning in OPEC price war as hoarding accelerates

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The nation’s efforts to boost reserves may increase its imports by as much as 700,000 barrels a day in 2015.
(AP Photo/Lisa Poole, File)

Phillips 66 to sell refining stake in Asia for $635M

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Phillips 66 is ending its ties to its refining business in Asia with a deal announced Wednesday to sell its 47-percent stake in a Malaysian refinery for $635 million in cash.
U.S. President Barack Obama, left, and Chinese President Xi Jinping drink a toast at a lunch banquet in the Great Hall of the People in Beijing Wednesday, Nov. 12, 2014. (AP Photo/Greg Baker, Pool)

US-China climate deal aims to prod others to act

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“This is, in my view, the most important bilateral climate announcement ever,” said David Sandalow, a former top environmental official at the White House and the Energy Department.
A driver refuels her car at a gas station of PetroChina, a subsidiary of CNPC (China National Petroleum Corporation), in Luoyang city, central China's Henan province, 19 August 2014. (File, Bloomberg)

China seen overtaking U.S. as world’s biggest oil user

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Growth in oil demand to 2040 will also be driven by India, Southeast Asia, the Middle East and sub-Saharan Africa, the IEA said.
Russia's President Vladimir Putin, and China's President Xi Jinping, right, smile during signing ceremony in Shanghai, China on Wednesday, May 21, 2014. China signed a long-awaited, 30-year deal Wednesday to buy Russian natural gas worth some $400 billion in a financial and diplomatic boost to diplomatically isolated President Vladimir Putin.  (Alexei Druzhinin/AP)

Russia, China add to $400 billion gas deal with accord

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Russian oil firm OAO Gazprom is negotiating the supply of as much as 30 billion cubic meters of gas annually from developments in West Siberia to China over 30 years.
(AP Photo/Lai Seng Sin)

Shale boom redraws oil routes as Alaska ships to Korea

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South Korea received this month a shipment of Alaskan oil for the first time in at least eight years and may buy more.
(AP Photo/Lai Seng Sin)

Pirates target oil tankers in Asia route as attacks climb

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Gangs of thieves armed with knives and guns are making Southeast Asian waters increasingly dangerous for small tankers carrying fuels such as gasoil or marine diesel.