EnergyWatch

News from the Houston Chronicle energy team
(Johnny Hanson/Chronicle)

Exxon Mobil shows why U.S. oil output rises as prices plunge

Oil companies, while trimming 2015 budgets to cope with the lowest crude prices in five years, are also shifting their focus to their most-prolific, lowest-cost fields.  More »
(SAMAD/AFP/Getty Images)

Oil drops to 5-year low on concern supply glut to worsen

Saudi Arabia, the largest producer in OPEC, will stick to its policy to maintain output, Oil Minister Ali Al-Naimi said.  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 says OPEC won’t give up oil-market share

Global oil markets are experiencing “temporary” instability caused mainly by a slowdown in the world economy, Oil Minister Ali Al-Naimi said.  More »
New York Gov. Andrew Cuomo (AP Photo/Mike Groll)

Cuomo gets kudos, scorn for New York fracking ban

Residents statewide remain almost evenly split on the issue, and the divisions are clear, pollsters said Thursday.  More »
(AP file photo)

Nature defends natural gas story over EIA objections

A Nature article from early December questioning how long the North American natural gas boom could really last earned stinging letters this week from the EIA and University of Texas researchers.  More »
Gas Town Revolt

Texas lawmaker seeks to protect urban drilling

State Rep. Phil King filed a pair of bills this week, cities seeking to ban fracking would need to gain approval from the state attorney general, pay the state to study the financial impact and reimburse the state for any lost tax revenue.  More »
Halliburton CEO Dave Lesar (Melissa Phillip/Chronicle)

Halliburton CEO: Weak market will spur more job cuts

Dave Lesar’s statement comes a week after Halliburton said it would immediately laying off 1,000 employees across multiple regions in the Eastern Hemisphere.  More »

LyondellBasell names new CEO

Chemical company LyondellBasell Industries tapped Bhavesh V. “Bob” Patel, an executive vice president with the company, to serve as its new executive officer, the company announced Thursday morning.  More »
(Melissa Phillip/Houston Chronicle )

Here’s the CEOs behind Houston’s biggest oil companies

The 20 largest Houston-based oil and gas companies were valued at $868 billion in 2014.  More »
(David Paul Morris/Bloomberg)

Chevron abandons Arctic drilling plans

Chevron told Canada’s National Energy Board Wednesday that it would pull out of Beaufort Sea.  More »
(RJ Sangosti/The Denver Post via Getty Images)

Oil crunch could cost Texas 128,000 jobs, Fed model shows

But falling oil wouldn’t be enough to slow the state’s job growth to zero.  More »
(AP Photo/Paul Sancya, File)

Enbridge shuts oil pipeline to U.S. after spill in Canada

The 796,000 barrel-a-day pipe carries heavy, medium and light sour crude from Edmonton, Alberta, to Superior, Wisconsin.  More »
(AP Photo/Matthew Brown, File)

Cheap oil jamming rails means higher U.S. power bills

While the U.S. has the world’s biggest coal reserves, utilities are forecast by the government to end the year with the lowest stockpiles since 2005.  More »
(Ken Childress)

Crude resumes slide on concern supply outpacing demand

Trading volatility for both Brent and West Texas Intermediate increased to a four-year high.  More »
(Houston Chronicle)

Marathon Oil will cut more than $1B from 2015 budget

Marathon Oil Corp. will spend about 20 percent less looking for and producing oil next year, the company said on Thursday.  More »
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