EnergyWatch

News from the Houston Chronicle energy team
Petroleo Brasileiro SA (Petrobras) natural gas storage tanks sit on an island in Guanabara Bay in the state of Rio de Janeiro, Brazil. (Dado Galdieri/Bloomberg)

Petrobras refinery is 60 percent over budget, audit court says

The new refinery will cost $50,000 more per barrel than Petrobras’ previous facility.  More »
The Baker Hughes research and development building in Tomball, Texas. (Todd Spoth/For the Chronicle)

Baker Hughes profit rises 10 percent

Oil field service firm Baker Hughes saw profits rise nearly 10 percent in the third quarter as its sales in North America and Latin America increased.  More »
Chesapeake CEO Robert "Doug" Lawler speaks at the IHS CERAWeek energy conference in Houston on March 4, 2014. (Mayra Beltran/Houston Chronicle)

Southwestern Energy cuts $5.4 billion deal for Chesapeake gas land

Houston’s Southwestern Energy Co. is planning to drop $5.4 billion on gas-rich land in West Virginia and Pennsylvania in one of the biggest recent deals for acreage in a region buffeted by pressure on gas prices.  More »
Cluster of gas signs at filling stations (AP Photo/Amy Sancetta)

Citigroup sees $1.1 trillion stimulus from oil plunge

Crude prices are plunging amid signs that OPEC won’t act to eliminate a surplus as global growth slows.  More »
(AFP PHOTO / ALEXANDER KLEIN/Getty Images)

Falling oil prices shake up global economies

Dropping oil prices are having complex effects on economies around the globe that are only starting to be felt.  More »
(AP file photo/Mary Altaffer)

End to oil collapse in sight for BofA, BNP Paribas

Some of the world’s biggest banks say the collapse in oil is just about over.  More »
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Oil slump means canceled projects as investment declines

With oil approaching a four-year low, producers will be cautious about sanctioning investment, according to some experts.  More »
Patrick Juneau, administrator of the Deepwater Horizon Claims Center. (Houston Chronicle)

Oil spill claims boss rebuts BP’s bid to remove him

The Louisiana lawyer in charge of dispensing BP’s oil spill settlement responded to the company’s request to remove him from the post, saying BP knew when he was appointed that he previously had represented the state in spill claims.  More »
Nancy and Rich Kinder at "Modern" the  Museum of Fine Arts Houston's Grand Gala Ball  Friday Oct. 12,2012.(Dave Rossman photo)

Oil fortunes fall, rise amid dropping markets

The personal fortunes of the oil industry’s wealthiest weathered the massive fluctuations in global markets Wednesday better than most  More »
(AP Photo/Bela Szandelszky)

Brent, West Texas crude keep dropping

Brent crude extended its biggest one-day collapse in three years amid speculation OPEC will refrain from eliminating a glut.  More »
A photo filed in regulatory documents of the Ocean Rig Athena, a new drillship that began operations in the second quarter of 2014 off the coast of Angola for ConocoPhillips.

Ocean Rig Partners files for $305 million IPO

Offshore oil driller Ocean Rig Partners has filed for a $305 million initial public offering as it anticipates four next-generation deep-water drillships to be assembled over the next three years.  More »
Vladimir Putin, Russia's president. (Andrey Rudakov/Bloomberg)

Putin loses his best friend: Expensive oil

The decline in oil prices may be depriving Russian President Vladimir Putin of his biggest ally.  More »