CEO John Schiller at the Energy XXI offices in Houston on Sept. 19, 2012. (Dave Rossman/For the Chronicle)

Energy XXI’s CEO received personal loans from vendors, board member

Energy XXI says it has learned its chief executive borrowed funds from acquaintances and some of the company’s vendors and received a personal loan from a member of the company’s board before the director’s appointment.
Traffic moves through downtown Anchorage, Alaska, U.S., on Wednesday, Nov. 5, 2014. (David Ryder/Bloomberg)

Alaska money blizzard may end as oil’s plunge threatens payouts

Alaska is poised to alter its social contract with people like Paul Alexie for the first time in its 56-year statehood. Oil riches have ensured that the 23-year-old Yupik Eskimo from Bethel doesn’t pay state sales or income taxes. Instead, Alaska pays him. He’ll use $2,072 that lands in his bank account today to defray […]
An Iranian man walks past a mural displaying the Iranian map adorned in the colours of the country's national flag, on June 29, 2015 in Tehran. Despite agreeing the outlines of a nuclear agreement on April 2, the final talks between Iran and six powers led by the United States on turning it into a binding accord have hit difficulties on reaching a deal which would lift sanctions, paving the way for foreign investment to flow back, in exchange for curbs on Iran's nuclear activities. AFP PHOTO/BEHROUZ MEHRIBEHROUZ MEHRI/AFP/Getty Images

Iran aims to boost oil output by 2 million barrels from projects

Iran will need $30 billion of investment over five years to boost oil production, starting with about 350,000 barrels of new output next year, Goldman Sachs Group Inc. said in a report Thursday.
Smokes rises from a damaged areas after an explosion and fire at the Exxon Mobil Corp. Torrance refinery in Los Angeles, California, U.S., on Wednesday, Feb. 18, 2015. An explosion this morning at the Exxon Mobil Corp. refinery is creating concerns that limited oil refining capacity in California could raise fuel prices. Photographer: Patrick T. Fallon/Bloomberg

Exxon Mobil to sell troubled Torrance refinery to New Jersey buyer for $537.5 million

While the terms of the deal were not immediately known, both parties are planning to close the sale of the large refinery in the second quarter of 2016.
(AP Photo/Patrick Semansky)

Houston investors win Mexican offshore lease

The sale was the second in a series of tenders intended to revitalize the country’s flagging energy sector by luring private investment.
FILE - In this Dec. 22, 2014 file photo, Iranian oil workers gather at the Tehran's oil refinery south of the capital Tehran, Iran. Across a Mideast fueled by oil production, low global prices have some countries running on empty and scrambling to cover shortfalls, even as more regional crude is on tap to enter the market.(AP Photo/Vahid Salemi, File)

Iran approves model oil contract aimed at ramping up production

Iran is preparing to bounce back from sanctions that strangled its economy and choked off investment in its oil and gas industry.
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 inventories rise as refineries slow down

Refineries across the United States have been paring back operations for fall maintenance season, which sends more oil into storage tanks.

Oil market mulls over economic data dump, inventory numbers

And there is an exciting day in store on this final day of Q3, with all manner of information to digest. Japan kicked things off overnight, and has maintained its bearish theme with industrial production down 0.5% in August versus the prior month. Onward to Europe, and German retail sales came in softer than expected […]
Categories: Crude oil
Nigeria's President Muhammadu Buhari, left, shakes hands with United Nations Secretary-General Ban Ki-moon as they meet during the 70th session of the United Nations General Assembly at U.N. headquarters, Monday, Sept. 28, 2015. (AP Photo/Craig Ruttle)

Nigerian president also plans to be oil minister

Nigeria is Africa’s biggest petroleum producer and is hard hit by halved prices for the oil that provides 80 percent of government income.
A drilling rig in the Utica Shale.

Chesapeake to cut workforce 15 percent

Chesapeake Energy Corp. is shedding 15 percent of its workforce as part of an effort to slash costs as low oil prices continue to linger, the company said Tuesday.