A very large smokestack flare burns off flammable product after an explosion in a processing facility at the ExxonMobil refinery in Torrance, Calif. on Wednesday, Feb. 18, 2015. A small ground fire was quickly extinguished and the facility's flare system was triggered for safety reasons. Two workers suffered minor injuries. (AP Photo/Daily Breeze, Chuck Bennett)

Ramp up delayed for Exxon Mobil’s Torrance refinery

on
A hearing set for Wednesday morning was delayed.
Armed security stands near an oil pipe at the Bryan Mound facility of the Strategic Petroleum Reserve  in Freeport, Texas. (Photo: Brett Coomer/Houston Chronicle)

Guest commentary: Time to fix the Strategic Petroleum Reserve

on
Two retired Air Force generals make a case for the importance of the country’s Strategic Petroleum Reserve.
109440253

Cost, length of Exxon’s cleanup still unclear after N.J. deal

on
The cleanup, which can largely be overseen by private professionals instead of the state under a 2009 law, could take years, perhaps even decades.
In this Aug. 29, 2015 photo provided by Egypt's state news agency MEAN, Eni CEO Claudio Descalzi, third left, and his delegation meet with Egyptian President Abdel-Fattah el-Sissi, center, and an Egyptian delegation, in Cairo, Egypt. (MEAN via AP)

Italy’s Eni finds ‘supergiant’ natural gas field off Egypt

on
The Italian energy company Eni SpA announced Sunday it has discovered a “supergiant” natural gas field off Egypt, describing it as the “largest-ever” found in the Mediterranean Sea.
Phillips 66 operates the Gulf Coast Fractionators facility in Mont Belvieu, Texas. (Phillips 66)

Berkshire discloses $4.5 billion stake in Phillips 66

on
Berkshire held almost 58 million shares after purchases this week, or more than 10 percent of the total outstanding, according to a regulatory filing issued Friday by Warren Buffett’s Omaha, Nebraska-based company.
Caption


This July 30, 2014 photo shows Margerie Glacier, one of many glaciers that make up Alaska's Glacier Bay National Park. With melting glaciers and rising seas as his backdrop, President Barack Obama will visit Alaska next week to press for urgent global action to combat climate change, even as he carefully calibrates his message in a state heavily dependent on oil. (AP Photo/Kathy Matheson)

In Alaska, Obama to walk fine line on climate change, energy

on
The unambiguous goal of the president’s trip is to use dramatic and alarming changes to Alaska’s climate to instill fresh urgency into his global warming agenda.
Over thirty oil drilling rigs idling in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, in the Permian Basin on  May 18, 2015. (Courtney Sacco/Odessa American via AP)

Drillers added just one oil rig this week

on
The Baker Hughes rig count, considered a proxy for oil field activity, showed rigs drilling for oil increasing from 674 last week to 675 this week.
(Carla Gottgens/Bloomberg)

Commentary: Climate Industry’s Annual Meeting

on
Each year, the UN holds a major conference of about 200 nations to deal with the alleged threat from climate change. It has become the equivalent of the climate industry’s annual meeting. Attendance is in the thousands and not only includes UN officials and government representatives but special interests that make money off of the […]
Categories: General
Halcon

Halcón Resources reduces debt but gets NYSE de-listing warning

on
The exploration and production company announced that it worked out a deal to reduce its long-term debt by $548 million after privately negotiating a deal with unnamed holders of its outstanding debt.
McDermott International has a $1.5 billion-plus contract with Saudia Arabia's national oil company. (AP file photo/John Moore)

McDermott CEO sees Saudi contract as step in turnaround

on
Offshore engineering company McDermott International has landed a $1.5 billion-plus lump sum contract with Saudi Aramco.