BP CEO Bob Dudley answers journalists'questions at the end of a meeting of the Oil and Gas Climate Initiative (OGCI) in  Paris on October 16, 2015. CEO of 10 global oil and gas companies call for an effective climate change agreement at COP 21, OGCI said on friday  in a press release. (Eric Piermont/AFP/Getty Images)

Group of Big Oil companies pledge support on climate change initiative

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Their declaration follows a joint letter that was sent to the top UN official in charge of climate talks earlier this year, in which six European oil companies split from their U.S. peers and banded together to call for governments to agree to carbon pricing.
Phillips 66 Sweeny refinery.  (Ryan Holeywell/Houston Chronicle)

Phillips 66 delays Sweeny startup after mechanical failure

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The 100,000-barrel-a-day Fractionator One project at Phillips 66’s Sweeny complex is part of a $3 billion capital expansion project in southern Texas launched last year.

Bad news is good news as oil musters a rally

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Two hundred and twenty-two years after the death of Marie Antoinette, and the crude complex is trying not to lose its head. After a week of dragging its feet and looking downbeat, oil prices are finally mustering a bounce into the weekend, as bad news is not good news….it’s great! Crude is not only being […]
Categories: Crude oil
(AP Photo/Pat Sullivan, File)

Oil slump cut Schlumberger’s profits nearly half, CEO says

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Schlumberger and other oil field services companies had expected oil patch activity to rebound by now, but the company’s third quarter earnings painted a bleak picture for the industry.
Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

Playing pass-the-risk in the shale patch

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Analysts expect Whiting Petroleum, one of the largest producers in North Dakota’s Bakken shale basin, to spend almost $1 billion more than it earns from oil and gas this year.
(Photo by Robert Nickelsberg/Getty Images)

Southern Company and South Korean utility team up on “clean coal”

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Southern Company is seeking to set the global blueprint on making clean-coal projects work.
A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

Oil prices fall after inventory data show a big build

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The U.S. Energy Information Administration said that stocks of oil across the country rose by 7.6 million barrels in the week ending Oct. 9, bringing the total amount of oil in commercial storage to a 80-year-plus seasonal high of 468.6 million barrels.
The Exxon Baton Rouge, top, attempts to off load crude oil from the Exxon Valdez on March 26, 1989. (AP file photo)

State, feds won’t pursue $92 million more in Exxon Valdez spill

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The state and federal governments have decided not to pursue $92 million in additional damages from Exxon Mobil Corp., citing the recovery of ducks and sea otters in Alaska’s Prince William Sound following a devastating oil spill more than two decades ago.
FILE - In this Dec. 22, 2014 file photo, an Iranian oil worker rides his bicycle at the Tehran's oil refinery south of the capital Tehran, Iran. Oil prices that slumped steeply earlier this year may take another hit once a historic deal between the West and Iran allows that country to start pouring more crude into a market already brimming with supply. (AP Photo/Vahid Salemi, File)

Iran is even more tempting for Big Oil after the price slump

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The Middle Eastern country is one of the cheapest places in the world to tap new oil fields and pump from existing wells.
(Paul White/(AP photo)

Spain’s Repsol energy firm to sell assets, cut spending

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Repsol SA said Thursday that its 2016-2020 strategic plan calls for spending to be cut 38 percent without altering the company’s profile.