Schlumberger CEO Paal Kibsgaard (credit: Schlumberger)

Schlumberger CEO sees new tech elevated amid falling prices

The oil-field service industry will face a tough year in 2015 as North American oil producers plan on cutting spending around 30 percent.
(Photographer: Brittany Sowacke/Bloomberg)

San Antonio-based driller cutting 20 percent of workforce

Last April at an Eagle Ford event, a company official said that Lewis had grown from 300 employees to around 1,300. By the fall, a news release from the Texas Workforce Commission said the company was at 1,200 employees just at its Encinal operations center.
Sanchez Energy's Prost A1H well in Fayette County, in the Eagle Ford Shale.

Sanchez cuts 2015 budget by at least 40 percent

Producers such as Continental Resources, Marathon Oil and Oasis Petroleum have all announced big spending reductions in response to oil prices that have fallen in half since their June peak.
(Jason Alden/Bloomberg)

BP details job cuts, capital spending declines in latest economic impact report

Numbers from the British oil giant’s annual economic impact report showed that capital spending fell to $9.1 billion in 2013.
(Photo by Alex van Herwijnen, Flickr)

Alstom to pay $772 million to settle bribery charges

U.S. authorities allege Alstom had a “widespread scheme involving tens of millions of dollars in bribes” paid to officials worldwide in countries including Indonesia, Saudi Arabia, Egypt, the Bahamas and Taiwan.
Petrobras CEO Maria Silva Foster (AP Photo/Roosewelt Pinheiro, Agencia Brasil)

Ex Petrobras manager says she spoke with CEO about anomalies

President Dilma Rousseff on Monday sharply defended the chief executive officer of the Brazil’s state-run oil company despite allegations she was told years ago about some of the irregularities that are ballooning into the nation’s biggest corruption scheme yet.
Nabors CEO Tony Petrello (Photo by Nabors Industries)

Nabors CEO takes a pay cut

Oil-service companies and rig contractors are preparing for an estimated 25 percent drop in spending next year from explorers and producers after crude prices dropped to a five- year low.

LyondellBasell names new CEO

Chemical company LyondellBasell Industries tapped Bhavesh V. “Bob” Patel, an executive vice president with the company, to serve as its new executive officer, the company announced Thursday morning.
(Melissa Phillip/Houston Chronicle )

Here’s the CEOs behind Houston’s biggest oil companies

The 20 largest Houston-based oil and gas companies were valued at $868 billion in 2014.
Dave Hager will replace John Richels as Devon Energy CEO in 2015. (Devon Energy)

Devon Energy CEO to retire next year

Devon Energy Corp. CEO John Richels, 63, will retire next year and likely be replaced by chief operating officer David Hager, the company announced.