A driver refuels her car at a gas station of PetroChina, a subsidiary of CNPC (China National Petroleum Corporation), in Luoyang city, central China's Henan province, 19 August 2014. (File, Bloomberg)

China to cede top oil buyer spot back to U.S.

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China’s new ranking shows how the U.S. shale boom is reshaping flows of oil around the world as suppliers hunt for buyers amid a global glut. A surge in American production is reducing the need for the world’s biggest economy to import crude while the Asian nation seeks to take advantage of a slump in prices to fill its emergency stockpiles.
Process Technician, Eric Gazda, walks in front of the Vinyl Acetate Unit at the Celanese Corp. plant in Pasadena. (Michael Paulsen/Houston Chronicle)

Furmanite CEO touts progress, profits after vitriolic proxy battle

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Although CEO John Milliron said he is not satisfied with the first-quarter results, he said the company performed relatively well considering the proxy battle, low oil prices, the U.S. Steel Workers strike and a March 7 fire at Furmanite’s United Kingdom operations.
Jack Moore,  CEO of Cameron International, announced that he will resign his position in Fall 2015. (Cameron)

Cameron International announces CEO succession plan

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Cameron Chairman and CEO Jack Moore, who has led the company for more than seven years, plans to retire on Oct. 5 but still remain in the chairman position.
(AP file photo/John Moore)

Saudi Aramco said to plan $80 billion in overseas spending

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Saudi Aramco is expanding in refining and petrochemicals and seeking to boost ties with Asia as part of its ambition to become both the world’s largest oil and chemicals producer by the end of the decade.
(Ken Childress/Rosetta Resources)

Noble Energy to buy Rosetta Resources for $2.1 billion

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Noble Energy will buy Rosetta Resources in a $2.1 billion deal that gives Noble a footprint in the Eagle Ford and Permian Basin, two of the largest shale plays in the United States.
In this photo take Friday, April 17, 2015, a group of kayakers rafted together work to pull up a protest sign as they practice for an upcoming demonstration against Arctic oil drilling, in Elliott Bay in Seattle. (AP Photo/Elaine Thompson)

Firm to appeal decision on Port of Seattle permit

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Foss Maritime plans to appeal Seattle’s position that Royal Dutch Shell can’t use the Port of Seattle’s Terminal 5 under the existing permit.
With the Olympic Mountains in the background, the Polar Pioneer drilling unit  arrives in Port Angeles, Wash., aboard a heavy-lift transport ship. Shell hopes to use the rig for exploratory drilling in the Chukchi Sea off Alaska's northwest coast. (Daniella Beccaria/seattlepi.com via AP)

Judge orders Greenpeace to stay away from drill ships

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U.S. District Court Judge Sharon Gleason on Friday also prohibited Greenpeace from flying unmanned vehicles over the offshore Arctic area where Shell plans to drill.
Burning oil tank cars from a BNSF train that derailed at Heimdal, North Dakota lay askew along the railroad tracks on Wednesday afternoon, May 6, 2015. The train pulling 107 tank cars filled with crude oil was passing through the small town when six of the cars derailed. (Tom Stromme/The Bismarck Tribune via AP)

BNSF reopens track at ND site of oil train derailment, fire

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BNSF Railway resumed shipments Friday along a track in North Dakota two days after an oil train derailed and caught fire, and cleanup continued on crude that spilled into nearby wetlands.
(Image: Fotolia)

Costs are dropping in the Eagle Ford, producer says

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Swift gave an insightful breakdown of what it costs the company to produce oil and get it to market, as well as the level of cost-cutting companies have been making:
(Ty Wright/Bloomberg)

Oil rig count falls to lowest since late 2010

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Producers eased back on the number of rigs laid down this week, idling 11 oil-chasers at a time when crude prices have started to swell again.