Enterprise abandons Bakken pipeline

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

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

But the relationship between prices and number of drivers used to be closer.

OPEC chief urges oil investment despite low prices

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

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

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

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. […]
Categories: General
(DEwira/AFP/Getty Images)

Cheaper crude doesn’t mean cheaper products yet

Raw materials and fuel have gotten less expensive as oil prices plunge to their lowest levels in five years, but manufacturers may be reticent to pass on those savings to consumers until the volatile oil and gasoline markets begin to settle.
(Courtesy of LyondellBasell)

Shale boom spurs chemical industry expansion

The industry grew by 2 percent this year and is expected to swell further next year as advances in drilling and completion technologies unlock vast new supplies of hydrocarbons that chemical companies rely on to make products and fuel their plants.
(Eddie Seal/Bloomberg)

Goodrich pares spending plans, considers selling Eagle Ford assets

In the first half of next year, Goodrich will explore “strategic alternatives” for all or a portion of its Eagle Ford acreage to give the company greater flexibility to expand development under better market conditions, the company said in a release Wednesday.