(Spencer Platt/Getty Images)

Freeport-McMoRan Oil and Gas slashes capital spending by 30 percent

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Freeport-McMoRan Oil and Gas is evolving into a “leaner, longer” business plan as it slashes its planned capital spending in 2016 and 2017 from $2.9 billion down to $2 billion. It’s $2.8 billion capital spending this year is being maintained, but it is still much lower than the original estimate of $3.5 billion given late last year.
NRG Energy Inc. Vice President Nuclear Oversight, James von Suskil speaks during a scheduled refueling outage on Unit 2 at the South Texas Project nuclear power facility Thursday, April 2, 2015, in Wadsworth.
( James Nielsen / Houston Chronicle )

NRG stock drops sharply after earnings loss

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NRG’s stock briefly dipped below $20 a share Tuesday for the first time since 2012 but jumped back up in the afternoon.
(AP Photo/Lisa Poole, File)

DCP Midstream restructuring continues, Phillips 66 executives say

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Phillips 66 equity investment in the Denver-based master limited partnership posted an adjusted loss of $25 million in the second quarter compared to $12 million loss in the first quarter.
Chris Finlayson, CEO of BG Group, speaks during the IHS CERAWeek conference at Hilton Americas - Houston Wednesday, March 5, 2014, in Houston. ( Melissa Phillip / Houston Chronicle )

BG profit beats estimates as record output shows appeal to Shell

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BG, the U.K.’s third-biggest oil company, raised its 2015 production forecast to the upper range of its guidance.
(AP Photo/Paul Sakuma)

Calpine reports 86 percent net income dip

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Houston-based Calpine Corp. saw its net income plummet by 86 percent in the second quarter of the year, although the company reported an adjusted profit after accounting for power plant sales and more.
A gas flare is seen in an aerial view in the early morning hours of July 30, 2013 near Watford City, North Dakota. (Photo by Andrew Burton/Getty Images)

Industrial natural gas use to continue to grow quickly, EIA says

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New plants coming online are set to drive industrial natural gas growth forward by more than three percent in the next two years, the U.S. Energy Information Administration said in an analysis Wednesday.
John Hess, chairman and CEO of Hess Corp. (F. Carter Smith/Bloomberg )

Hess Corp. posts $567 million loss

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Hess, which has a major Houston presence, saw its income fall from a gain of $931 million during the same time last year. Excluding one-time expenses, Hess posted adjusted net income of a $147 million loss, or a loss of 52 cents per share, down from a $432 million gain last year, or $1.38 a share.
Total headquarters outside Paris. (AP file photo/Jacques Brinon)

Total SA avoids big earnings dip

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The Paris-based company said low oil prices were partially offset by a 12 percent increase in oil and gas production compared to last year, strong refining margins and the results of Total’s cost reduction program.
(David Paul Morris/Bloomberg)

Chevron to cut 950 jobs in Houston, 1,500 companywide

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Chevron currently counts about 8,000 Houston-area employees and fewer than 65,000 workers worldwide. Chevron had closer to 9,000 Houston workers two years ago.
(Carla Gottgens/Bloomberg)

Coal power is here to stay — for now

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While coal is expected to lose market share, federal projects show that coal-fired generation capacity is expected to remain largely unchanged through 2024.