EnergyWatch

News from the Houston Chronicle energy team
Rex Tillerson, chairman, president, and CEO of ExxonMobil Corp. ( Johnny Hanson / Houston Chronicle )

Exxon Mobil to cut 2015 budget by 12 percent

Despite the cuts, Exxon said it expects to increase daily production to 4.3 million oil-equivalent barrels through 2017.  More »
(AP Photo/Hussein Malla, File)

Libyan official: Islamic State militants attack oil field

The militants swept down from the central city of Sirte and attacked the al-Dhahra oil field to the south, trading fire with guards and blowing up residential and administrative buildings before eventually retreating.  More »
Saudi Arabia's Minister of Petroleum and Mineral Resources Ali Ibrahim Naimi speaks to journalists at OPEC's meeting in Vienna. (AP Photo/Ronald Zak)

Saudi Arabia pledges to pump as much oil as its customers need

The country won’t cut output unless customers refuse to buy its crude, Oil Minister Ali Al-Naimi said in Berlin on Wednesday.  More »
(JEFF PACHOUD/AFP/Getty Images)

U.S. consumer spending on fuel at a six-year low in January

According to the Commerce Department’s Bureau of Economic Analysis, Americans spent 21 percent less on gasoline, electricity and gas services in January than at the same time last year.  More »
Dave Washington, left, Bobbie Thompson, and Kevin Hyde, United Steel Workers Local 13-227 members, employed by LyondellBasell Industries Houston, hold a strike claiming unfair labor practices at the oil refinery plant Monday, Feb. 2, 2015, in Pasadena, Texas. (Gary Coronado/Houston Chronicle)

LyondellBasell accuses Steelworkers of threatening returning workers

The company also contends it has witnessed threatening behavior at the gates of its Houston refinery as employees arrive to work.  More »
(Photo: Thomas B. Shea/For the Chronicle)

Steelworkers’ local reminds strikebreakers of their union oath

The local union reminded its members about the initiation oath they took that included a promise to abide by the laws of the union, including, “I will cease work when authorized and approved by the organization to do so.”  More »
Photographer: Daniel Acker/Bloomberg

Nabors cuts nearly 3,500 jobs as U.S. drilling takes big hit

Nabors’ active U.S. rig count has fallen 32 percent from its peak last year, according to the company’s CEO.  More »
BP Plc Results News Conference

BP CEO’s pay package jumps 25 percent

BP CEO Bob Dudley’s total take home jumped 25 percent last year, though his annual cash bonus was trimmed by more than half, according to regulatory filings released Tuesday.  More »
(Cody Duty / Houston Chronicle)

‘Disappointed’ in union, Shell says it is hiring relief workers

As the strike enters its second month, Shell has been training “relief employees” to operate its Deer Park refinery as well as its Norco chemical plant in Louisiana, according to a letter to employees from Aamir Farid, manufacturing vice president, Americas.  More »
Crude Oil Caps Biggest Weekly Increase In Two Years On Libya Unrest

US running out of room to store oil; price collapse next?

If record production in the U.S. keeps up, storage tanks could approach their operational limits, known in the industry as “tank tops,” by mid-April and send the price of crude — and probably gasoline, too — plummeting.  More »
Electric Reliability Council of Texas ERCOT

NRG, Calpine challenge Houston transmission project in new lawsuit

A pair of Houston-based power generators allege in a lawsuit filed this week in state court that a new transmission line planned for the Houston area is expensive and unnecessary.  More »
An oil platform is seen in the Gulf of Mexico near the Chandeleur Islands, off the Southeastern tip of Louisiana. (AP Photo/Gerald Herbert, File)

EIA: Gulf of Mexico production to continue increasing

By 2016, the Gulf will account for about 17 percent of total U.S. crude production.  More »
Anadarko Petroleum Corporation CEO Al Walker, gives a speech after his company won top ranked large employer during the Houston Chronicle's Top Workplaces Awards Gala, Thursday, Nov. 8, 2012, in Houston. (Nick de la Torre/Houston Chronicle)

Anadarko to cut spending 33 percent, execs say

The 33-percent spending cut includes a plan to bring down 40 percent of its U.S. land drilling rigs and to defer 125 onshore well completions. So far this year, the firm has sold off or divested $700 million in assets.  More »
OIL MARKETS

Kinder Morgan to give more public info on New Hampshire pipeline plan

In a letter sent last week to Kinder Morgan, the state’s congressional delegation asked the company to do more public outreach beyond five meetings conducted recently in communities affected by the proposal.  More »
ExxonMobil CEO Rex Tillerson (left) talks to Russian Prime Minister Vladimir Putin during a  signing ceremony in Russia in 2011. (AP photo/RIA Novosti, Alexei Druzhinin, pool)

Exxon now has more exploration holdings in Russia than in the U.S., despite sanctions

While U.S. and European Union sanctions against Russia forced Exxon to shut down an Arctic drilling project in October, the producer is staking claims to areas that could yield tens of billions of barrels in coming decades.  More »
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