Lee Tillman, of Marathon Oil Company, delivers remarks in  the Unconventional Impact Pane during the Offshore Technology Conference at NRG Park on May 5, 2014, in Houston, Tx. (Mayra Beltran/Houston Chronicle)

Marathon Oil plans 29 percent spending cut, posts loss

Marathon Oil Corp. lost $749 million in the third quarter, writing down the value of some oil assets and scaling back efforts to look for oil and gas in conventional plays.
Sen. Michael Bennet, D-Colo. heads to a closed-door briefing by national security officials on the situation in Syria, Friday, Sept. 6, 2013, on Capitol Hill in Washington. (AP Photo/J. Scott Applewhite)

Chamber of Commerce pushing moderate Democrats to back oil exports

Oil producers’ hopes for lifting the crude export ban this year may have diminished, but they’re keeping pressure on Senate Democrats with an eye on 2016.
An oil worker walks by an oil pump during a sandstorm in the desert oil fields of Sakhir, Bahrain

FILE - In this Thursday, Jan. 8, 2015 file photo, an oil worker walks by an oil pump during a sandstorm that blew in, in the desert oil fields of Sakhir, Bahrain. 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/Hasan Jamali, File)

Oil market needs another month to decide if the rebound is for real

Even with oil prices possibly past the low point, and production falling from outside of OPEC, there aren’t enough signs to say a full recovery is in the works, Kuwait’s oil minister said.
Nomac Drilling Corp. derrick man Justin Spruell, right, climbs down from an overhead platform after connecting a section of drill pipe on a Chesapeake Energy Corp. natural gas drill site in Bradford County, Pennsylvania, U.S., on Tuesday, April 6, 2010.  (Daniel Acker/Bloomberg)

Chesapeake reports third quarter loss on $5.4 billion charge

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
In this March 25, 2014 photo, a worker oils a pump during a hydraulic fracturing operation at an Encana Corp. well pad near Mead, Colo. The first experimental use of hydraulic fracturing was in 1947, and more than 1 million U.S. oil and oil wells have been fracked since, according to the American Petroleum Institute. The National Petroleum Council estimates that up to 80 percent of natural oil wells drilled in the next decade will require hydraulic fracturing. (AP Photo/Brennan Linsley)

U.S. looks at proposed fracking in national forest in Midwest

The Columbus Dispatch reports that oil and gas companies formally expressed interest to the U.S. Bureau of Land Management in drilling about 31,900 acres of the forest through hydraulic fracturing, or fracking.

Norway oil-rig tender reveals ‘desperate’ drillers in price rout

Offshores drillers such as Transocean Ltd., Seadrill Ltd. and Fred Olsen Energy ASA have been caught in a double whammy of falling demand for their services and a glut of new rigs coming into the market.
A pump jack works beside the site of new home construction, in Midland, Texas. The West Texas town is in the middle of an oil boom with thousands of workers in need of housing. (Pat Sullivan/AP)

Trade gap in U.S. narrows on lowest oil imports in a decade

The narrowing meant trade had little impact on the economy in the third quarter, easing concern that slower global growth and a stronger dollar would cause exports to slump.

State Sen. Cathy Giessel, right, speaks on the floor of the Alaska Senate during debate on a bill to authorize the buyout of one of the state's partners in a proposed gas project, Tuesday, Nov. 3, 2015, in Juneau, Alaska. The bill passed the Senate 16-3. (AP Photo/Becky Bohrer)

Alaska Senate approves TransCanada buyout bill

The Alaska Senate on Tuesday approved legislation that would give the state a greater share in a proposed liquefied natural gas project by buying out one of the project’s partners.
(AFP/Getty Images)

Petrobras output cut by oil workers striking against austerity

Brazil’s daily oil production has fallen by about 500,000 barrels as oil workers strike for the third day to protest austerity measures by state-controlled Petroleo Brasileiro SA that are resulting in job losses.
The new Libyan flag flutters outside an oil refinery in Zawiya on September 23, 2011.  (LEON NEAL/AFP/Getty Images)

Libya oil guard halts oil exports from port amid political rift

Libya’s Petroleum Facilities Guard halted crude shipments from Zueitina port indefinitely amid the escalating conflict between the divided country’s two rival administrations, putting the OPEC member’s oil exports at risk.