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Phillips 66 shelves plans for oil processing projects

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In a call with investors on Thursday, Phillips 66 revealed that it will postpone plans for at least a year to build a condensate splitter and second fractionator at its Sweeny refinery.

Equity Finance Betting Against Saudi Arabia

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Earlier this year, equity finance players like Blackstone Group LP said they would be out in force cherry picking for cheap oil and gas assets. The theory was simple. As everyone with any experience in oil cycling can tell you, it is too hard to pick “the bottom.” Equity finance players know that and said […]
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A Japanese drumming ensemble welcomes guests as Mitsubishi Heavy Industries Compressor International Corp. opens a new plant in Pearland.

Maker of chemical plant components opens Pearland plant

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Mitsubishi Heavy Industries Compressor International Corp. officially opened its $75 million manufacturing plant in Pearland, where it plans to put the finishing touches on compressors and steam turbines supplied to customers in the petrochemical sector.
(Sam Hodgson/Bloomberg)

Guest commentary: America’s new and improved energy mix

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Demand for alternative energy sources is untethered from oil and natural gas prices, the writers argue.
A Linn Energy relief driller loads drill rods onto a rig in Indiana, Pennsylvania in the Appalachian Basin. (AP file photo/Andrew Rush)

Linn Energy to close Denver office, shed 55 jobs

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Linn Energy says it will shutter its Denver office and eliminate 55 positions located there in the latest example of the global crude collapse has forced oil companies to cut back.
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(Eddie Seal/Bloomberg)

Weatherford sees bottom of ‘miserable’ North America results

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Weatherford will cut its 2015 capital budget to $850 million from $900 million, it said in the earnings report.
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Report: Man-made earthquakes shake over a dozen areas in US

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The man-made quakes jolted once stable regions in eight states, including parts of Alabama, Arkansas, Colorado, Kansas, New Mexico, Ohio, Oklahoma and Texas, according to researchers at the U.S. Geological Survey.
Olafur Ragnar Grimsson, president of the Republic of Iceland, speaks at IHS Energy CERAWeek.

CERAWeek: Arctic energy should include renewables, foreign leader says

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Arctic oil gets plenty of talk, but Arctic wind also offers big potential, Iceland’s president says.
(Nick de la Torre/Houston Chronicle)

CERAWeek: Refiners remain competitive even if crude export ban lifted

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Refiners have benefitted from the crude collapse by buying up cheap oil and transforming it into higher-priced gasoline, diesel and other refined products, an executive with the world’s largest independent refinery said Monday.

President Obama, consult Groucho Marx

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President Obama recently stated that climate change was personal to him because it caused his daughter’s asthma.  He has also made a number of other claims to justify his crusade to reduce CO2 emissions and suppress fossil fuel use.  If he only made one factual error it would be easy to dismiss because no one […]
Categories: General