T. Boone Pickens speaks at the 2014 LNG Conference Jan. 22, 2014, in Houston.  (Eric Kayne/For the Chronicle)

T. Boone Pickens cashes out on oil, awaits time to get back in

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Pickens has sold all his oil holdings and is waiting for the best moment to get back in, he said Thursday in an interview on “Bloomberg Go.”
The head office of Statoil in Stavanger, Norway.  (AP Photo / Kent Skibstad, NTB scanpix, File)

Statoil reports larger 4th quarter loss after oil price drop

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CEO Eldar Saetre said the company was stepping up its cost-cutting program and reining in spending.
A Saudi man walks past a pump at a petrol station on December 28, 2015 in the Red Sea city of Jeddah. Saudi Arabia said it plans to review the prices of heavily-subsidised power and fuel as part of new measures introduced in the face of low oil prices.   AFP PHOTO / AMER HILABIAMER HILABI/AFP/Getty Images

Saudi crude oil exports show continued strength to US, Asia

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Thirty-nine years after Fleetwood Mac’s second album was released, and ‘rumours’ of a production cut and fears of a worsening US economy are pushing and prodding the crude market around today. Commodities are also getting whipsawed around by currency moves. As the US dollar continues to weaken due to growing pessimism about the US economy, […]
Categories: Asia, Crude oil, Middle East
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(AP Photo/Kevork Djansezian, file)

Occidental posts losses of more than $5 billion

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The Houston-based oil and gas producer said it booked a total of $5.4 billion of after-tax charges, mostly due to cheap oil eroding the value of its assets.
Ryan Lance, chairman and CEO of ConocoPhillips ( Marie D. De Jesús / Houston Chronicle )

ConocoPhillips CEO: Oil downturn could stretch into 2017

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ConocoPhillips, the No. 3 U.S. oil company, announced a quarterly loss on Thursday and said it is cutting its shareholder dividend by two thirds.
In this Monday, April 7, 2014 file photo, a flag bearing the company logo of Royal Dutch Shell flies outside the head office in The Hague, Netherlands. (AP Photo/Peter Dejong, File)

Shell prepares to remake itself into gas giant after BG Group deal

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The Anglo-Dutch oil major’s upstream earnings fell 71 percent to $493 million, though the company said lower costs offset the plunge.
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Weatherford to cut 6,000 jobs in first half of 2016

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The job cuts will have brought the company’s workforce down by 20,000 since the oil-market crash began in 2014.
The silhouettes of emissions are seen rising from stacks of the Duke Energy Corp. Gibson Station power plant at dusk in Owensville, Indiana, U.S., on Thursday, July 23, 2015. (Luke Sharrett/Bloomberg)

Transition to low carbon energy will be “extremely difficult,” energy official says

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The comments come as the United States and countries around the world work on cutting greenhouse gas emissions to the point the earth’s temperature does not rise more than two degrees Celsius.
A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

U.S. crude inventories break decades-old record after huge build

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A higher-than-expected build of 7.8 million barrels for the week ending on Jan. 29 pushed inventories to 502.7 million barrels.
Eagle Ford, Bakken shale production on the decline

Eagle Ford, Bakken shale production on the decline

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Output from the Eagle Ford has been falling since March 2015.