(Photographer: Patrick Semansky/Bloomberg)

Petrochemical growth may keep Houston out of oil-related recession

on
West Houston, with white-collar oil and gas jobs in the Energy Corridor, and the Galleria area will suffer more, while the more blue-collar East Houston workforce would be better off in the short term, the report contends.
Original byline: Jim Blecha/

BP economist: Oil industry should hunker down for “a couple of years” as prices recover

on
The dramatic reduction in the U.S. rig count foreshadows a coming slowdown in U.S. oil output, a trend that’s expected to happen at the same that time that global oil consumption has started to swell.
FILE - In this May 21, 2015, file photo, a worker removes oil from sand at Refugio State Beach, north of Goleta, Calif. An underground pipe, owned by Plains All American Pipeline, spewed oil down a culvert and into the Pacific on May 19 before it was shut off. Democratic U.S. Sens. Barbara Boxer and Dianne Feinstein say the response to the oil spill that blackened beaches and created a 10-square-mile slick on the ocean was "insufficient." and called on federal regulators to provide more details on the activities and decisions by Plains. (AP Photo/Jae C. Hong, File)

Pipeline firm couldn’t reach staff at California spill site

on
Plains All American workers at the site near Santa Barbara were contending with “immediate demands and distractions” and couldn’t be reached by Plains personnel based in Bakersfield, documents said. One of the workers, along with firefighters, used shovels to try to construct a makeshift berm to slow the oil’s spread.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

Oil prices hold steady as crude inventories trend down

on
Crude oil prices swung briefly in both directions before returning to about even early Wednesday, after the latest weekly inventory showed refiners continuing to chip away at the massive amount of crude in storage.
(Eddie Seal/Bloomberg)

Freeport-McMoRan’s offshore drilling firm going public

on
Houston-based Freeport-McMoRan Oil & Gas Inc. could be the first U.S. oil producer to launch an initial public offering this year, a sign that investors are figuring out what values to put on private oil and gas companies amid relatively steady $60 crude.
(AP file photo/George Osodi)

OPEC crude market share at its lowest in more than a decade

on
The erosion of OPEC’s dominance by surging North American shale oil prompted the group to abandon its decades-long role of balancing world markets at a meeting in November.
A crew cleans oil from the beach at Refugio State Beach on May 20, 2015 north of Goleta, Calif.  (Photo by David McNew/Getty Images)

Exxon Mobil halts production following California pipeline spill

on
Exxon Mobil said Tuesday it had ceased production at three offshore platforms that were isolated by the rupture and subsequent shutdown of a Santa Barbara pipeline.
The Trans-Alaska pipeline snakes its way to the North Slope next to the Dalton Highway north of Fairbanks, Alaska. (AP file photo/Al Grillo)

Repair planned for small leak in trans-Alaska pipeline

on
Alyeska Pipeline Service Co. is working on a repair for a small crude oil leak found in a buried section of the trans-Alaska pipeline, but for now an employee is tending to the leak with a rag.
(Spencer Platt/Getty Images)

Oil price recovery on the way, panel says, but pace will be slow

on
In a webcast, the panel of experts from financial services giant Ernst & Young said that the energy sector is expected to rebound, albeit at a sluggish pace, after several months of unrest following the collapse in oil prices that began last fall.
Prime Minister Vladimir Putin of Russia visits an oil rig in the Caspian Sea operated by Lukoil, April 28, 2010. (Alexei Druzhinin/Pool via The New York Times)

Russia eclipses Saudi Arabia in fight for oil market share in China

on
China is becoming a key market for global oil exporters as surging output from shale fields from Texas to North Dakota allows the U.S., the biggest crude consumer, to rely less on overseas supplies.