(Photographer: Ty Wright/Bloomberg)

Labor Day weekend brings $1.4 billion in gas pump savings nationwide

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This weekend will feature the lowest gasoline prices in more than a decade with gas prices 99 cents cheaper than this time last year after a dip of 18 cents just in August, which was the greatest decrease since 2008, GasBuddy added. Average national gas prices were $2.44 a gallon Wednesday morning compared to $3.43 last year.
(AP Photo/Patrick Semansky)

2 crew members injured after pipeline ruptures in Gulf

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The cause of the rupture is under investigation.
In this March 31, 2015 photo, a supply vessel crosses an oil sheen drifting from the site of the former Taylor Energy oil rig in the Gulf of Mexico, off the coast of Louisiana. The New Orleans-based company has downplayed the leak's environmental impact, likening it to scores of minor spills and natural seeps that the Gulf routinely absorbs. (AP Photo/Gerald Herbert)

Details on fight against decade-long Gulf oil spill to be released under court deal

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Details about a chronic oil leak in the Gulf of Mexico will be disclosed as part of the settlement agreement between Taylor Energy and environmental groups.
Deepwater Horizon

BP settlement money flows to cities hundreds of miles from Gulf Coast shoreline

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This week, BP finished making approximately $687.4 million in settlement payments to 383 local government entities in the five Gulf states. Nearly $8 million of that money went to 32 government entities that are more than 100 miles from the coast, in places like the Mississippi Delta and suburbs of central Alabama, the records show.
An aerial view of the Ensco 8502 drilling rig in the Gulf of Mexico. (Jennifer Dlouhy/Houston Chronicle)

Low oil prices drive down bidding for Gulf of Mexico drilling rights

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With just five companies participating and only 33 leases sold, the turnout was the lowest western Gulf auction since area-wide leasing began in 1983, according to the Bureau of Ocean Energy Management.
In this April 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana's tip, as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig. (AP Photo/Gerald Herbert, File)

Judge: Local governments, including Houston, will get their BP payments soon

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A federal judge said this week BP has until late August to start processing payments totaling $1 billion to the 400 local governments along the Gulf Coast that were part of the British oil major’s $18.7 billion Deepwater Horizon oil spill settlement inked earlier this month.
Workers prepare drilling pipe on the Petroleos Mexicanos (Pemex) La Muralla IV deep sea crude oil platform in the waters off Veracruz, Mexico, on Friday, Aug. 30, 2013. (Susana Gonzalez/Bloomberg)

Mexico’s failed first round of bidding an important lesson, energy panel says

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In testimony Thursday before the Western Hemisphere subcommittee of House Committee on Foreign affairs, a panel of four experts on Mexico’s energy reform unequivocally called Mexico’s first tender a disappointment.
Spectators look at a Cameron Evo 20K BOP, a blowout preventer, at Cameron's booth at the 2013 Offshore Technology Conference  in Houston. (Cody Duty / Houston Chronicle)

Cameron executives see downturn nearing bottom

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Houston-based Cameron, which provides equipment to offshore and onshore producers, said it saw fewer producer spending cutbacks in the second quarter.
Workers on Ridgewood Energy's Vermilion 344 project.

Ridgewood launches huge deep-water Gulf fund, says it can find oil for $20 per barrel or less

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As other companies slow down their expensive deep-water Gulf investments, Ridgewood says it can find and develop oil there for cheap.
(AP Photo/Patrick Semansky)

The number of temporarily sealed wells in the Gulf of Mexico is growing

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Five years after the Obama administration promised to move swiftly to permanently plug unused oil and gas wells in the Gulf of Mexico, even more shafts are lingering for longer periods with only temporary sealing.