EnergyWatch

News from the Houston Chronicle energy team
(Photo: David Paul Ohmer/Flickr)

FuelFix Newslinks |03.24.11|

Why the fail-safe failed: Conoco keeps selling. Is Anglo Suisse leaky?  More »
tesoro

Gasoline prices in Houston hold steady

The average price of gas in Galveston and Texas City is $3.46 this week.  More »
(ConocoPhillips)

ConocoPhillips is sharply expanding asset sales

ConocoPhillips will sell up to $10 billion in additional assets over the next two years, significantly upping a previous target, as it steers more money to capital projects and stock buybacks, CEO James Mulva told analysts Wednesday. The Houston oil gi…  More »
The blowout preventer pulled from the wreckage at BP's Macondo well is transported to land for testing on Sept. 11, 2010. (Photo: U.S. Coast Guard)

Report says damaged pipe thwarted ‘fail-safe’ device

WASHINGTON — A piece of drill pipe knocked askew as BP’s Macondo well surged out of control kept its blowout preventer from averting last year’s disastrous oil spill in the Gulf of Mexico, according to an investigation released Wednesday. In the firs…  More »
(AP file photo/Reed Saxon)

Occidental settles natural gas royalty claims for $2 million

A lawsuit filed by a private citizen claims the company took improper deductions from the gas production values it reported to federal officials.  More »
Workers install equipment at a natural gas plant in the Mont Belvieu, Texas complex, May 1, 2007. (Brett Coomer/Chronicle)

Energy Transfer, Regency to buy NGL business for $1.93 billion

ETP and Regency will form a joint venture to buy the natural gas liquids pipelines and processing plants from Louis Dreyfus.  More »
OLD DO NOT USE  James Mulva (AP Photo)

ConocoPhillips targets up to $10 billion more in asset sales

The Houston oil giant plans to sell an additional $5 billion to $10 billion in non-core assets over the next two years, expanding a program announced in 2009, and expects to reduce oil refining capacity.  More »
(Photo: David Paul Ohmer/Flickr)

FuelFix Newslinks |03.23.11|

Another deepwater permit. Gas gooses Gulf chemical biz. Qatar asked for handouts.  More »
(AP file photo/Rick Bowmer)

U.S. to auction massive Wyoming coal reserves

Four lease auction this year could raise more than $20 billion for the U.S., Wyoming  More »
One of Dow's many Freeport, Texas chemical plants. (Houston Chronicle/Smiley Pool)

Natural gas boom helps Gulf petrochemical industry

The Gulf Coast’s petrochemical industry is benefiting from the recent boom in U.S. natural gas supplies, which has lowered feedstock costs and improved odds that the region will get new plants and jobs in coming years, an economist for a leading indust…  More »
A natural gas drilling site in the Barnett Shale. (AP file photo/Donna McWilliam)

Texas clears Range in N. Texas water contamination case, EPA stands pat

The EPA said Range Resources contaminated a pair of North Texas water wells, but Texas’ drilling regulator says evidence shows the gas didn’t come from the Barnett shale where Range was drilling.  More »
Exxon Mobil Corp. chairman and chief executive Rex W. Tillerson speaks to reporters during a news conference. (AP file photo/LM Otero)

Exxon Mobil nabs permit for deep-water well

The government today gave Exxon Mobil the green light to drill a new well in the Gulf of Mexico that was blocked by last year’s ban on deep-water drilling. Although it is the fourth deep-water well of its kind to be permitted since the moratorium was lifted last October, the Exxon Mobil project is the first that is relying on equipment from the Houston-based Marine Well Containment Company to respond to any blowout at the site.  More »
President Barack Obama delivers his State of the Union address on Tuesday, Jan. 25, 2011.  (AP Photo/Pablo Martinez Monsivais)

Heard the one about Obama, George Soros and Petrobras?

A 2009 bank loan to the Brazilian oil giant makes the blood boil for some, but the back-story isn’t quite so clear-cut.  More »
An oil truck passes in front of Chevron Refinery in Richmond, Calif. in 2006. (AP Photo/Paul Sakuma, file)

U.S. refiners face tough road ahead

The domestic industry will struggle for the “forseeable future” amid tougher regulations, a glut of plant capacity and continued market uncertainty, U.K.-based consultant Wood MacKenzie said.  More »
A drilling site in the Haynesville Shale. (James Nielsen/Houston Chronicle file photo)

Haynesville takes the top spot from Barnett

Texas can no longer boast the most prolific shale gas formation in the country now that the Haynesville shale in northwest Louisiana has come on strong.  More »