LyondellBasell names new CEO

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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.
A Marathon Oil drilling rig works in the Bakken Shale of North Dakota. (Houston Chronicle)

Marathon Oil will cut more than $1B from 2015 budget

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Marathon Oil Corp. will spend about 20 percent less looking for and producing oil next year, the company said on Thursday.
Photo:  tumblr.com

Holiday gift guide for the roughneck or petroleum engineer in your life

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I’ve got you covered with the list of things anyone would be proud to show off both in the field (well, some of them anyways) or the office.
alaska-pipeline

Enterprise abandons Bakken pipeline

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The proposed line would have run 1,200 miles from the prolific oilfields of North Dakota to the oil transportation hub in Cushing, Oklahoma.
A lawsuit claims that Goldman Sachs' involvement steered El Paso into Kinder Morgan's arms for a lower price than the company was worth. Photo: Richard Drew / AP

Big oil could chop $930B in projects as prices fall

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Global oil markets could lose as much as 7.5 million barrels of crude over the next decade if sunken oil prices stall the slate of new oil and gas projects around the world, a new report says.
Petrol Prices At U.K. Gas Stations As Price Of Oil Continues To Fall

Lower price at the pump doesn’t mean much more driving, report says

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But the relationship between prices and number of drivers used to be closer.
(ALEXANDER KLEIN/AFP/Getty Images

OPEC chief urges oil investment despite low prices

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The secretary-general of OPEC on Sunday urged Gulf Arab nations to keep investing in oilfield development despite the plunge in crude prices and gave no indication the cartel was prepared to shift its strategy to halt the slide.
Al Monaco, president and CEO of Enbridge Inc., speaks during the IHS CERAWeek. (Melissa Phillip/Houston Chronicle)

Enbridge lays off some Houston-area workers

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The Houston-based pipeline company last week cut positions in its under-performing domestic gas pipelines and processing business unit, including jobs in the office and field locations.
(AP Photo/The Times, Kyle Telechan)

Magellan condensate splitter in Corpus Christi gets clearance

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A $250 million condensate splitter proposed for Corpus Christi got clearance from federal regulators on Friday, bringing it one step closer to construction.

A Martian Looks at Climate Negotiations

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An interesting mind game involves thinking about what a Martian would think if he/she came down and observed the activities in Lima at this year’s COP.  It doesn’t take much a stretch of the imagination to conclude that upon returning to Mars, he/she would report that there doesn’t appear to be intelligent life on earth. […]
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