In this Wednesday, April 8, 2015 file photo, Ben van Beurden, CEO of Royal Dutch Shell, left, shakes hands with the Chairman BG group Andrew Gould during a press conference to announce Royal Dutch Shell has agreed to buy British Gas, in London. The current wave of corporate takeovers and mergers is set to grow as the appetite for deals among global executives hits a five-year high amid a strong dollar and low oil prices, a survey found Monday April 13, 2015. (AP Photo/Alastair Grant, File)

Deal making down sharply in second quarter

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A total of 137 deals were announced between April 1 and June 30, the lowest number since the fourth quarter of 2008, according to the U.S. Energy Information Administration.
(SAMAD/AFP/Getty Images)

Oil ends trading below $50 for first time since April

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The price of light, sweet crude oil for September delivery fell to a low of $49.67 per barrel in early trading on the New York Mercantile Exchange.
A boat of tourists moves on Dubai creek, with the city skyline in the background in Dubai, United Arab Emirates. (AP file photo/Kamran Jebreili)

U.A.E. cuts fuel subsidy as oil crash hammers Arab economies

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“There was no reason to subsidize in a country that is as rich as the U.A.E.,” said Nasser Saidi, former chief economist at Dubai International Financial Centre and head of Nasser Saidi and Associates.
(Andrey Rudakov/Bloomberg)

Russia faces longest recession in decades with plunging oil

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Oil jitters will test the optimism of President Vladimir Putin, who’sdeclared that Russia had put the worst of the economic crisis behind it
Workers on Ridgewood Energy's Vermilion 344 project.

Ridgewood launches huge deep-water Gulf fund, says it can find oil for $20 per barrel or less

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As other companies slow down their expensive deep-water Gulf investments, Ridgewood says it can find and develop oil there for cheap.
Chesapeake CEO Robert "Doug" Lawler speaks at the IHS CERAWeek energy conference in Houston on March 4, 2014. (Mayra Beltran/Houston Chronicle)

Chesapeake eliminates dividend as slump continues

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Ending the 35-cents per share annual dividend will free up about $240 million in funds that can be put into next year’s drilling program, Oklahoma City-based Chesapeake said in its announcement.
(Photo by Andrew Burton/Getty Images)

Crude oil slips below $50 in midday trading

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Crude oil had held near $60 per barrel in May and June as traders hoped lower prices would curtail some oil production. But drillers have managed to keep pumping in the U.S. and across the globe, and prices have once again started sliding.
A Tenaris Conroe employee lines up a stack of pipes so a Petibone forklift can pick the up to put into another pile waiting to be finished for sale Tuesday, April 13, 2010, in Conroe.  (Nick de la Torre/Chronicle)

TimnkenSteel to lay off 39 Houston workers

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The Canton, Ohio-based company, which manufactures steel bars and pipes, cited a “significant downturn in business” as the reason for the layoffs.
A coalition of groups led by Utah Tar Sands Resistance and Peaceful Uprising speak during a news conference outside the Department of Natural Resources Tuesday, June 30, 2015, in Salt Lake City. Residents and groups opposed to Utah's first tar sands mine are calling on state regulators to withhold approvals for the project because new evidence shows water in the area will be negatively impacted. (AP Photo/Rick Bowmer)

Canadian company’s tar sands mine approved in Utah

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Utah Division of Oil, Gas and Mining director John Baza said Monday the decision addresses concerns raised by opposition while acknowledging that U.S. Oil Sands, the Canadian company building the mine, has complied with regulations.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

How much oil does Texas really produce? The EIA now says it has a better way to count

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The goal is to arrive at data that can better track how Texas’ production is responding to the volatile price swings on the crude oil markets, said Gary Long, a petroleum engineer at the EIA who works on production data.