(Paul White/(AP photo)

Repsol to shut unprofitable Norwegian oil field

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The field produced about 4,800 barrels of oil a day in November
Huntsman posted higher third-quarter earnings despite an unplanned outage at its Port Neches plant. ( Brett Coomer / Chronicle )

Huntsman Corp. posts small profit despite shrinking revenues

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Despite keeping its earnings positive, the chemical products manufacturer saw its quarterly revenues decline by 23 percent.
The Headquarters of the ENI energy company are seen in Rome, Italy, Wednesday, December 14, 2005. Gazprom would consider buying a stake in the electricity unit of Eni SpA, Europe's fourth-biggest power company, as a way to enter the Italian electricity production market, Il Sole/24 Ore reported, citing an interview with Gazprom Deputy Chief Executive Alexander Medvedev. Photographer: Chris Warde-Jones/Bloomberg News

Italy’s Eni said to explore sale of gas and power retail assets

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If Eni goes ahead with the auction, the business could attract private equity firms and utility companies, sources said.

Iran makes deals with Europe, selling crude in euros

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On the 84th birthday of John Williams, the crude complex is looking anything but composed. There are lots of reasons for cheer today – Chinese Lunar New Year (hark, year of the monkey), the Rio Carnival, to name two – but price action in financial markets is not one of them. As dollar strength returns […]
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European Union (EU) flags fly outside the European Council building in Brussels, Belgium, on Tuesday, Nov. 24, 2015. Authorities in Brussels extended the city's highest-level terror alert into next week as they maintained their warning Islamic State terrorists plan to attack highly populated areas like shopping malls and public transport systems. Photographer: Jasper Juinen/Bloomberg

EU signs off on Schlumberger’s acquisition of Cameron

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Schlumberger, the world’s largest oil field services company with headquarters in Houston, Paris and The Hague, has moved quickly to wrap up the acquisition of the large oil equipment and technology manufacturer since the deal was first announced at the end of August.
(Andrey Rudakov/Bloomberg)

Russia open to meeting with major oil-producing countries

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Last month, the price of oil fell below $30 a barrel, causing the ruble to plunge to record lows.
Iran's President Hassan Rouhani gestures at the conclusion of his press conference, in Tehran, Iran, Sunday, Jan. 17, 2016. The implementation of a historic nuclear deal with world powers is expected to pave the way for a new economic reality in Iran, now freed from harsh international sanctions. On Sunday Rouhani presented parliament with a draft budget that plans for an economic windfall even as it reduces reliance on oil revenues. (AP Photo/Ebrahim Noroozi)

Iran signs flurry of business deals as leader visits Europe

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Some business deals are ready to be inked but others are still in negotiation as a few sanctions not related to the nuclear program remain in place, particularly by the U.S., on the trade of goods that could be used for military or intelligence purposes.
People wave Russian flags as they look at Russian President Vladimir Putin delivering a speech on a screen on March 18, 2014, in Sevastopol.  (VIKTOR DRACHEV/AFP/Getty Images)

How cheap oil is squeezing Russia’s economy

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Russia, which relies on oil and natural gas for almost half its fiscal revenue, ran a budget deficit of 2.6 percent in 2015, the highest in five years.
Schlumberger CEO Paal Kibsgaard (credit: Schlumberger)

Schlumberger CEO “optimistic” job cuts are over after 34,000 slashed

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While Schlumberger’s CEO said he wants the industry to rebound soon, he said the longer the downturn lasts “the stronger we will emerge relative to our competition.”
Former Vice President Dick Cheney speaks in Washington, Sept. 10, 2014. Cheney, who was a sponsor of the brutal interrogation tactics used on detainees suspected of being linked to al-Qaida, on Sunday escalated his counterattack on the Senate Intelligence Committee's report, which found that the CIA's now-defunct program violated American values and produced little useful intelligence. (Doug Mills/ The New York Times)

Cheney chides Obama on fossil fuel stance, lifting Iran sanctions

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Cheney said the U.S. should get more involved with energy diplomacy to weaken its enemies