EnergyWatch

News from the Houston Chronicle energy team
Photographer: Andrey Rudakov/Bloomberg

Shell cuts $15 billion of spending as profit misses expectations

Shell shares dropped as much as 4.4 percent in London and traded at 2,067 pence at 10:17 a.m.  More »
(AP file photo/Reed Saxon)

Occidental loses $3.4 billion on asset impairments

The company has cut its 2015 annual capital budget to $5.8 billion, down 33 percent from last year, as oil prices have been cut in half since June.  More »
In an effort to show support for ongoing labor negotiations, about 150 employees of Lyondellbasell Refinery in Houston fanned out in front of the plant late Wednesday afternoon. (Photo: Thomas B. Shea/For the Chronicle)

Union workers press their case for contract demands at Lyondell refinery

Current contracts expire at 12:01 a.m. on Feb. 1. for most of the 30,000 oil workers – including 5,000 in Houston – covered by the labor agreements. The United Steelworkers represent about 475 workers at the LyondellBasell Refinery.  More »
Seattle Seahawks' Doug Baldwin cheers from the podium after the team beat the Green Bay Packers to win the NFL football NFC Championship game Sunday, Jan. 18, 2015, in Seattle. The Seahawks won 28-22 to advance to Super Bowl XLIX. (AP Photo/Elaine Thompson)

Oil lobbying group buys Super Bowl ad

The ad was the single most expensive television spot of API’s recent campaign promoting the Keystone XL pipeline and other industry priorities  More »
(AP Photo/Matthew Brown)

Oil falls after U.S. crude stockpiles surge to weekly record

Crude supplies rose 8.87 million barrels to 406.7 million, the most in records compiled since August 1982 by the Energy Information Administration.  More »
(Jason Alden/Bloomberg)

BP cuts jobs in Houston as it trims Gulf of Mexico business

Late last year, BP said it would incur restructuring charges of $1 billion in the fourth quarter of 2014 through the end of 2015.  More »
(AP PhotoKevin Cederstrom)

Hamm: Oil prices could rise sooner than you think

The market doesn’t understand just how quickly oil companies will scale back their activities as oil prices plunge — and as a result, prices could rebound faster than many observers expect, Continental Resources CEO Harold Hamm said Wednesday.  More »
Weatherford posted larger second-quarter losses as revenues slumped.
Photographer: Eddie Seal/Bloomberg

Weatherford cuts COO role amid falling oil

Weatherford International is getting rid of the job of chief operating officer as the oil field service firm tries to streamline its highest layers after the oil-price collapse, it said Wednesday.  More »
John Hess, chairman and CEO of Hess Corp. (Photographer: F. Carter Smith/Bloomberg )

Hess misses earnings estimate on lower oil prices

Hess announced Monday it would cut its capital spending plan for the year 16 percent to $4.7 billion.  More »
In this image Dec. 11, 2012 file photo, provided by the West Virginia State Police, shows a fireball erupting across Interstate 77 from a gas line explosion in Sissonville, W.Va. (AP Photo/West Virginia State Police)

Enterprise Products seeks cause of West Virginia pipeline explosion

Monday’s explosion sent flames shooting several hundred feet into the air.  More »
Workers go for lunch at the construction site of the Oryx Gas-to-Liquids plant in Ras Laffan Industrial City north of Doha, in Qatar, Feb. 16, 2005. The plant, which is the largest in the world, and is expected to begin operation in 2006, is a joint venture between South Africa's Sasol and state-owned Qatar Petroleum that will convert natural gas into clean-burning diesel fuel, as well as smaller amounts of other liquids. (AP Photo/Str).

Sasol delays decision on $14 billion U.S. plant on oil drop

The facility was to be located next to an $8 billion ethane cracker in Lake Charles, Louisiana.  More »
The United Kalavryta, shown in the Gulf in late July, about 60 miles off Galveston's coast. (Courtesy: U.S. Coast Guard)

Vessel weighs anchor as oil dispute hangs in scales of justice

An oil tanker that’s sat off the coast of Galveston since July amid an international legal dispute is finally leaving.  More »
Oil flows out of the top of the transition spool, which was placed into the gushing Macondo wellhead at the site of the Deepwater Horizon oil spill in the Gulf of Mexico in July 2010. AP Photo/BP PLC, File)

BP turns to environmental impact, financial state in oil spill penalty trial

BP will continue to build its case for lower environmental fines Tuesday in the long-running legal fight over how much it should pay for fouling the Gulf of Mexico in 2010.  More »
(AP Photo/Steven Senne)

Thousands without power during snowstorm in Massachusetts

The state Emergency Management Agency says the plant’s emergency diesel generators are supplying power to the safety systems and there is no emergency or danger.  More »
(AP file photo/Patrick Semansky)

Houston man accused of lying about blowout preventer tests

If convicted on two counts of making false statements to federal agencies, he could get up to 10 years in prison and $500,000 in fines.  More »