EnergyWatch

News from the Houston Chronicle energy team
(AP Photo/Gerald Herbert, File)

BP trial: Oil spill caused massive ecological damage, marine scientist says

U.S. prosecutors are arguing that BP should have to pay all of the $13.7 billion in Clean Water Act fines for the disaster, which killed 11 workers and spilled millions of barrels of oil into the Gulf.  More »
(AP Photo/Elise Amendola, File)

Hillary Clinton to speak in Canada amid debate over Keystone

The former U.S. secretary of state was to headline events in Winnipeg, Manitoba, and Saskatoon, Saskatchewan, in her first public speeches of 2015, a day after President Barack Obama delivered his State of the Union address.  More »
(Norm Betts/Bloomberg)

U.S. shale oil growth hurts Canadians as well as OPEC

A surge of light oil from North Dakota and Texas is cutting into the earnings of Canadians who turn heavy oil sands into a lighter crude that fetches more from refiners.  More »
(AP Photo/Richard Drew, File)

Crude rebounds as U.S. drilling slows

Oil has dropped more than 10 percent this year following a decline of almost 50 percent last year, the most since the 2008 financial crisis.  More »
(Johnny Hanson/Houston Chronicle)

Citgo said to plan $2.5 billion of debt for Venezuela dividend

Citgo Petroleum Corp. is planning to raise $2.5 billion and transfer the funds to its cash-strapped corporate parent, state-owned Petroleos de Venezuela SA, according to a person with knowledge of the matter, Bloomberg News reports.  More »
(Photo: Associated Press)

Pipeline breach located beneath Yellowstone River

Up to 50,000 gallons of crude were released in the spill.  More »
(Dave Martin/AP)

Oil spill intensified Gulf inequality amid economic damage, U.S. witness says

Gushing oil in the Gulf of Mexico caused serious and widespread sociocultural destruction in Louisiana and other states and exacerbated inequality in a region marked by economic immobility, the U.S. government’s second witness in BP’s oil spill case said Tuesday.  More »
A shrimp boat is used to collect oil with booms in the waters of Chandeleur Sound, La. (AP Photo/Eric Gay)

First U.S. witness gives BP oil spill response high grade

Coast Guard Rear Admiral Meredith Austin noted that BP personnel had inappropriately packed up equipment at various branches of the response effort before the runaway Macando well was finally killed in September.  More »
(AP Photo/Gerald Herbert, File)

BP, U.S. attorneys clash in opening statements in oil spill trial

A U.S. prosecutor said in court Tuesday that BP shouldn’t see its environmental fines reduced much from the maximum $13.7 billion just for complying with the law.  More »
Dave Lesar, third from right, chairman and CEO of Halliburton, rings the Opening Bell at the New York Stock Exchange (NYSE) on November 18, 2014 in New York City. (Photo by Spencer Platt/Getty Images)

Halliburton leaders suggest layoffs to hit North America

Halliburton acknowledged challenges ahead for the company as it faces pressure from exploration and production companies who are reeling from a more than 50 percent drop in the price of oil.  More »
G. Steven Farris, chairman and chief executive officer of Apache Corp. ( Cody Duty / Houston Chronicle )

Apache CEO Farris retires

John Christmann, the company’s executive vice president and chief operating officer for North America, will succeed him.  More »
(stockyimages)

Schlumberger to pay $1.7B for stake in Russian energy company

Schlumberger will spend about $1.7 billion for a minority stake in a big Russian energy company at a time when the country’s relations with the West are under strain and as energy prices hit multiyear lows  More »
Fire boat response crews battle the blazing remnants of the BP operated off shore oil rig, Deepwater Horizon, in the Gulf of Mexico in 2010. (AFP/Getty Images)

BP penalty trial begins in New Orleans

A federal judge on Tuesday will hear arguments from BP and U.S. government attorneys and experts in the long-running civil case over the 2010 Gulf of Mexico oil spill.  More »
(AP Photo/Richard Drew)

Baker Hughes to lay off 7,000 after record-breaking quarter

The oil services company reported that net income in its final quarter rose to a record high of $629 million.  More »
(Image: Fotolia)

Canadian drilling services firm files bankruptcy

A Canadian company that expanded into South Texas in 2012 with a pioneering waterless technique to fracture shale rock has filed for bankruptcy protection as it seeks to reorganize.  More »