Gary Sapone, left, Clark Cooper, center, and Eddie Llanes, all of Freeman, far right, work on setting up the Sercel booth on the exhibition floor at Offshore Technology Conference 2013 at Reliant Park Friday, May 3, 2013, in Houston. OTC2013 is scheduled for May 6-9. ( Brett Coomer / Houston Chronicle )

Colorful displays taking shape on OTC showroom floor

Take a sneak peek at some of the high-tech equipment and monumental displays that will fill the Offshore Technology Conference showroom floor next week.

Canadian judge dismisses lawsuit against Chevron

An attempt by Ecuadorian villagers to have a Canadian court enforce a $19 billion judgment against multinational oil giant Chevron Corp has been dismissed by the Ontario Superior Court.
Categories: General, Legal issues
Money Roll

Freeport-McMoRan’s $6.9 billion Plains bid called inadequate

Freeport-McMoRan Copper & Gold Inc.’s $6.9 billion bid for Plains Exploration & Production Co. is inadequate and should be blocked, an investor’s lawyer told a Delaware judge, who delayed a decision.
A Chesapeake Energy storage tank near Dilley, Texas. (Pat Sullivan/AP)

Chesapeake registers a profit, despite troubles

Chesapeake Energy Corp. boosted production and reported better-than-expected earnings for the first quarter, despite continued struggles with debt.
An ERCOT worker mans a desk in the Texas electric grid manager's Austin control room. (Photo: ERCOT/Tom Reel)

ERCOT: Hot summer likely to require power conservation

State electricity planners are preparing for another summer of withering heat, as they make their determinations on the sufficiency of electricity generation for peak heat conditions.
Categories: Electricity, Texas
(Nick De La Torre / Houston Chronicle)

Moody’s: U.S. will be a top liquefied natural gas exporter by 2020

The U.S. is expected to become one of the top exporters of liquefied natural gas in the next five years, with new export facilities becoming the catalyst for a steady stream of shipments to Asia, according to a Moody’s report issued Wednesday.
Carl Icahn (AP file photo/Gregory Bull)

Opposition to Icahn’s Transocean dividend proposal grows

Another independent shareholder advocacy group has come out against billionaire investor Carl Icahn’s proposal for Swiss drilling contractor Transocean to issue a $4-a-share dividend.
Charlie Williams (Handout photo)

Hazard analysis could be problematic in company offshore audits

FuelFix spoke to Charlie Williams, director of the Center for Offshore Safety, about challenges companies are having in implementing new federal regulations.
(Phillips 66)

Shale crude boosts Phillips 66’s first-quarter earnings

Continuing to profit from lower-priced U.S. shale oil, Phillips 66 Wednesday announced first-quarter earnings of $1.4 billion.

Valero might form an MLP

Just a day before Valero Energy Corp. was set to spin off its retail division, the company said Tuesday it may execute another separation by forming a master limited partnership.
Categories: Refining