Chesapeake CEO Robert "Doug" Lawler speaks at the IHS CERAWeek energy conference in Houston on March 4, 2014. (Mayra Beltran/Houston Chronicle)

Chesapeake Energy renegotiates $4 billion line of credit, sparking bondholder selloff

Earlier this week, the company eliminated 740 jobs and let go of about one in six of its employees, as part of Chief Executive Officer Doug Lawler’s plan to combat the weak energy market by reducing headcount, selling assets, spinning off business lines and halting a 14-year run of dividend payouts to stock investors.
FILE - In this Feb. 4, 2014 file photo, Sen. Heidi Heitkamp, D-N.D., speaks on Capitol Hill in Washington. Heitkamp said Wednesday, Sept. 9, 2015, that she won?t run for North Dakota governor, a setback for Democrats? hopes of claiming the state?s top office. (AP Photo/J. Scott Applewhite, File)

Senate panel advances oil exports in near party-line vote, signalling trouble ahead for bill

Although the Senate banking committee voted 13-9 to approve an oil exports bill, the panel debate on the measure illustrated hardening partisan division over the possible trade policy change.
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)

U.S. a net oil exporter to Mexico for first time in decades

The U.S. sent more crude oil and petroleum products to Mexico than it received for the first time in at least two decades in July, according to the latest government data.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Texas shed 28,300 oil and gas jobs since December

The oil slump has claimed at least 28,300 oil and gas jobs in Texas since December as the industry continues to pare back amid the worst downturn in years.
NEW YORK, NY - AUGUST 25:  Traders work on the floor of the New York Stock Exchange (NYSE) on August 25, 2015 in New York City. Following a day of steep drops in global markets, the Dow Jones industrial average rallied over 300 points in morning trading.  (Photo by Spencer Platt/Getty Images)

Energy conferences face cancellation amid low oil prices

The latest announcement is the cancellation of the 5th Houston Shipping & Offshore Conference slated for Oct. 16.
In this Tuesday, Sept. 8, 2015, photo, Saudi groom Hisham Saleh Edris drives his decorated car as he arrives alone at the men's section of the wedding hall in Jiddah, Saudi Arabia. A drop in oil revenue is forcing Saudi Arabia to weigh its first cuts to welfare and investment in years. (AP Photo/Amr Nabil)

As oil wealth dwindles, Saudi Arabia faces change

Subsidies to Saudi Arabia’s citizens are likely to be rolled back as the world’s largest oil exporter looks to curb spending for the first time in years due to a plunge in the price of crude, which accounts for 90 percent of government revenue.
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.