The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

MRC Global cuts more jobs as profits dip

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MRC Global said Monday it has now cut 680 jobs total dating back to last year as the oil-field pipes, valves and fitting supplier has adapted to the low oil price environment.
(AP Photo/Richard Drew)

Oil’s slide continues into August

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Monday’s slide follows a bearish July, when concerns that the glut of oil may not be easing sparked a sell off and erased gains crude had posted in May and June.
Exxon Mobil CEO Rex Tillerson

Oil CEOs’ grim outlook rubs off on speculators fleeing market

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Exxon, the biggest U.S. energy producer, reported July 31 its lowest profit since 2009 while No. 2 Chevron posted its worst results in 12 years.

Aspirations Need to Reflect Reality

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President Obama has just announced tougher emissions reductions for EPA’s Clean Power Plant regulation—32% reduction from 2005 levels by 2030. Since actions have consequences, there are two simple questions that need to be answered to understand this proposal. The first is how the reductions are to be achieved. The second is what are the economic […]
Categories: featured, General, p2
(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”
Anadarko Petroleum Corporation CEO Al Walker, gives a speech after his company won top ranked large employer during the Houston Chronicle's Top Workplaces Awards Gala, Thursday, Nov. 8, 2012, in Houston. (Nick de la Torre/Houston Chronicle)

Anadarko CEO: Outlook still uncertain for shale comeback

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Earlier in the year, before initial declines in service costs, Anadarko had estimated it would take $3 billion in capital expenditures to keep production levels flat. Now, Walker said, it would take about $2.7 billion, and there is still room for improvement.
Halliburton CEO Dave Lesar (Melissa Phillip/Chronicle)

Paychecks rose for some Houston energy CEOs in 2014

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The 10 highest-paid executives in Houston last year all work in the energy industry, despite domestic oil’s long and lingering swoon.
(Photographer: Eddie Seal, Bloomberg)

Return to drilling sends rig count up by 21

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U.S. drillers put more oil rigs to work this week than they have since last April, according to Friday’s Baker Hughes rig count.

Commentary: U.S. Energy Exports Are Fundamental Global Energy Security

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Very rarely does Congress put the level of effort and attention into one topic as they have in debating domestic energy exports. But rightfully so. The shale oil and natural gas revolution has dramatically changed the U.S. energy portfolio in ways most could not have predicted and our current policies tuned to the notion of […]
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A Cabot Oil & Gas Corp. natural gas drilling rig operates in the Marcellus Shale in Pennsylvania. (Cabot Oil)

Cabot CEO: “Better days ahead” after second-quarter loss of $27.5 million

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Stubbornly low natural gas prices caused Cabot Oil & Gas Corp to lose $27.5 million in the second quarter, but a new pipeline in the works should help the company more easily move its gas to market and fetch better prices, CEO, Chairman and President Dan Dinges said Friday.