Category: featured

Offshore drilling plan targets Atlantic and Arctic waters

The Obama administration’s proposal for 10 auctions of drilling rights in the Gulf of Mexico, three targeting Arctic waters and one of Atlantic acreage is alienating both environmentalists and the oil industry.  More »

Crude futures rise for first time in 4 days

Oil slumped almost 60 percent since June as the Organization of Petroleum Exporting Countries resisted calls to cut output and the U.S. pumped at the fastest pace in more than three decades.  More »

BP will freeze pay for most of its employees

The announcement came today in an internal message to employees, said BP spokesman Brett Clanton.  More »

Energy Transfer Partners to buy sister company in $11.2 billion deal

The purchase would bring together two companies both controlled by parent company Energy Transfer Equity, L.P. in a cash-and-stock deal.  More »

Video: Anadarko turns massive Gulf spar into marine habitat

Anadarko Petroleum Corp. has turned a 7,200-ton cell spar hull into a dark cave-like habitat for fish, sea anemones and other deep-sea creatures 200 miles off the coast of Louisiana.  More »

Hercules Offshore to lay down five more Gulf rigs

Hercules has already cold-stacked four of the rigs this month and a fifth is scheduled to end its contract in March.  More »

King Abdullah’s death not expected to change oil policy

No change in oil policy is expected.  More »

Crude, natural gas futures fall on storage report

Crude oil and natural gas futures fell on Thursday as traders grappled with inventory builds for both fuels.  More »

Oil trader sees no return to $100 crude

Brent crude climbed 0.8 percent to $49.44 a barrel at 10:48 a.m. in London on Thursday. It rose as high as $115.71 in June.  More »

Richard Kinder to step down as CEO in June

The move had been telegraphed since December, but a time for the transition had not been set until the company announced its fourth-quarter 2014 earnings Wednesday.  More »

Crude rebounds as U.S. drilling slows

Oil has dropped more than 10 percent this year following a decline of almost 50 percent last year, the most since the 2008 financial crisis.  More »

Obama talks tough on climate change, Keystone XL

In his penultimate State of the Union address, Obama chided lawmakers who have been skeptical of climate change or humanity’s role in it and delivered a thinly veiled critique of the GOP-controlled Congress’ focus on the Keystone XL pipeline.  More »

Baker Hughes to lay off 7,000 after record-breaking quarter

The oil services company reported that net income in its final quarter rose to a record high of $629 million.  More »

Iran sees ‘no threat’ from $25 oil

OPEC has made no decision to reduce its production ceiling despite a worldwide supply glut that’s driving down prices.  More »

Anadarko pumps first oil at Lucius field in the Gulf

Anadarko Petroleum Corp. has harvested the first barrels of petroleum at its Lucius project in the Gulf of Mexico, one of the biggest startups expected in the U.S. offshore region this year.  More »
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