Ernest Moniz Sec. of Energy United States during the IHS Energy CERAWeek Wednesday April 22, 2015 at the Hilton Americas-Houston. (Billy Smith II / Houston Chronicle)

Moniz says Strategic Petroleum Reserve could be tapped to control price shocks

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Moniz said rising U.S. crude production gives the nation more flexibility in how it uses the reserve, created four decades ago in response to supply shortfalls caused by the Arab oil embargo. The four underground salt caverns can hold more than 700 million barrels of oil.
Workers unload the first crude oil unit train to arrive at Jefferson Energy Companies' Jefferson Transload Railport facility at the Port of Beaumont in Orange County, Dec. 11, 2013.  (Mark Viator/Jefferson Energy Companies)

BNSF expects crude-by-rail volumes to grow after price rebound

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Petroleum traffic on rail lines more than doubled from 2011 to last year, as booming oil production from North Dakota and Canada overwhelmed pipelines and forced shippers to look for alternative transportation methods.
A Chesapeake Energy storage tank near Dilley, Texas. (Pat Sullivan/AP)

Chesapeake Energy seeks dismissal of nonprofits’ lawsuit

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Chesapeake Energy is seeking the dismissal of a lawsuit that alleges it took oil and gas from a property without a lease agreement with the owners.
A spinoff of National Oilwell Varco announced plans to buy a company that supplies the energy industry with pipes, valves and fittings.

Shell Midstream registers $361 million more units

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Shell Midstream sold the 7,692,308 common units in a May 2015 private deal with investors at a price of $39.00 per unit, according to documents filed Friday with the SEC.
Helix Well Containment Group equipment was deployed in a drill at a Noble Energy test well in May, with federal regulators and industry representatives looking on. (Photo: Noble Energy)

Despite new discoveries, deep water’s a bit still

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Marshall Adkins, director of energy research at Raymond James in Houston, said the moves show there is reason for optimism, but that the deepwater oil and gas sector might be 18 months away from seeing a rebound, as opposed to the quicker recoveries expected in U.S. shale.
(AP Photo/Richard Drew, File)

Report: In bitter energy debate, nobody wins

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A toxic discourse on energy — disconnected from facts and polarized both by environmentalists who exaggerate risks and pro-industry groups who ignore legitimate concerns — is confusing the public and jeopardizing the much-needed economic benefits responsible development of unconventional resources could bring the U.S., authors said.
(Spencer Platt/Getty Images)

Oil layoffs reach 150,000, recruiting firm says

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Pelted by the oil-market crash, the energy industry’s job cuts reached 150,000 by the end of May, says energy recruiting firm Swift Worldwide Resources, and that figure had grown by a fifth since March.
Memers of theOrganization of the Petroleum States meet In November 2014 at OPEC headquarters in Vienna. AFP PHOTO/SAMUEL KUBANISAMUEL KUBANI/AFP/Getty Images

Indonesia to rejoin OPEC in move to secure oil supplies

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The Southeast Asian country left the group in 2008 after nearly five decades of being the only Asian member amid declining oil reserves and investment
(DEwira/AFP/Getty Images)

IEA: Crude demand returns, and OPEC steps up

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The world’s appetite for crude is making a comeback as economies improve and cheap oil draws out more buyers, the International Energy Agency says.
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)

Pemex reports its largest oil find in 5 years in Gulf of Mexico

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The discovery won’t affect Pemex’s output forecast of 2.4 million barrels a day this year though will likely alter the company’s estimate to increase production by 500,000 barrels by 2018, CEO Emilio Lozoya said.