The Tamar Lease natural gas rig, located 90 kilometers west of the city of Haifa in northern Israel. Recent discoveries of massive offshore natural gas deposits, set to begin flowing in the coming days, are turning into a mixed blessing for Israel. (AP Photo/Albatross Aerial Perspective, File)

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

Eni said the discovery — made in its Zohr prospect “in the deep waters of Egypt” — could hold a potential 30 trillion cubic feet of gas over an area of 100 square kilometers (38.6 square miles).
The Maersk Developer drills an exploratory well into Statoil's Martin prospect, about 3,000 feet below the surface in the Gulf of Mexico. Two years ago, Statoil paid $157 million for the right to drill into a single 9-square-mile block at the site and the Norwegian company is now spending about $1.1 million a day to rent the Developer, supply the drilling rig and pay for other contractors. (Jennifer A. Dlouhy / Houston Chronicle)

Maersk gets approval for $4.5 billion U.K. North Sea gas field

The field, located in the central part of the British area of the North Sea, is expected to produce enough natural gas to meet 5 percent of the U.K.’s total demand in 2020 or 2021.
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

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.

Halcón Resources reduces debt but gets NYSE de-listing warning

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.

Crude retracing after a rampant rally

On this final Friday in August, the crude complex is looking lower into the weekend after yesterday’s nutty 10% rally. The rollercoaster ride across financial markets continues apace, with Chinese equities rallying nearly 5% amid further market intervention from Chinese authorities to prop it up up. Overnight we have had a number of economic data […]
(AP photo/Brennan Linsley)

Encana sends Louisiana shale assets to private venture in $850 million deal

Encana Corp. said Tuesday it will sell $850 million of Louisiana shale play acreage to a partnership between a closely held Woodlands oil and gas driller and a private equity firm.
Carl Icahn, billionaire investor and chairman of Icahn Enterprises Holdings LP, center, walks outside of the Nasdaq MarketSite with Robert Greifeld, chief executive officer and president of Nasdaq OMX Group Inc., in New York, U.S., on Tuesday, March 27, 2012. (Scott Eells/Bloomberg)

Cheniere Energy names two Icahn allies to board of directors

The appointments give Icahn a foothold on the company’s eleven-member board of directors, following his investment company’s purchase of 19.4 million shares or an 8.2 percent stake in Cheniere in August.
(AP Photo/Mike Groll)

Hundreds march to protest proposed natural gas pipeline

Those against PennEast’s proposal said during the mile-long march they’re concerned the pipeline would badly damage the landscape and natural resources in the region, and lower property values.
LyondellBasell CEO Bob Patel poses for a portrait at the LyondellBasell Channelview Chemical Company plant Friday, Aug. 21, 2015, in Channelview. 
 ( James Nielsen / Houston Chronicle )

LyondellBasell looking at Texas sites for new chemical plant

Speaking at the company’s sprawling Channelview complex where LyondellBasell will start up 250 million pounds of new ethylene capacity near the end of September, Patel said an announcement likely will come later this year on adding more production of polyethylene, which is the most common type of plastic.
(David Paul Morris/Bloomberg)

Report: Massachusetts riddled with natural gas leaks

Some leaks are decades old.