News from the Houston Chronicle energy team

Sec. of State Hilary Clinton gives video greeting at CERAWeek

This year’s conference represents a shift from fear about the future to a sense of measured confidence about the future, IHS-CERA Chairman Daniel Yergin said as he kicked off Oil Day of CERAWeek. The new venue at the Hilton Americas gives “greater flexibility,” he notes. (In most years past the event was at the Galleria. […]  More »

Upstream M&A up 40 percent, says CERAWeek study

After two years of declines, merger and acquisition deals in the exploration and production business increased 40 percent in 2009 to just under $150 billion, according to IHS Herold. North American deals accounted for a two-thirds of that figure, including Exxon Mobil’s $41 billion acquisition of XTO Energy and Suncor Energy’s $21 billion merger with […]  More »

Tudor Pickering lowers their nat gas number

When the guys at Tudor Pickering Holt & Co. talk about natural gas people listen. That’s why their note this morning they have lowered their price outlook for natural gas down significantly could turn some heads. The firm is lowering the 2010 price from $7.50/mcf to $6.20/mcf, a refleciton of first quarter prices averaging about […]  More »

CERAWeek: Oil Day focuses on industry challenges, possibilities

IHS CERA We’re heading into Oil Day, the second day of IHS CERA’s weeklong global energy conference and one of the busiest on the conference agenda. This year, the keynotes will be Khalid Al-Falih, President and Chief Executive Officer, Saudi Aramco; Steven Chu, U.S. Secretary of Energy; James Mulva, Chairman, President and CEO, ConocoPhillips; and […]  More »

Chron Energy Newslinks | 03.09.10 | Petrobras loves the Gulf, BP loves Houston, will Exxon buy big?

• BP expands its footprint in Houston. • Focus shifting to developing world, says CERA speakers. • Petrobras CEO says U.S. Gulf is key with Chinook first oil expected mid-Summer. • Reward increased for missing Houston energy exec. • OPEC to keep the spigot steady. • CNPC sees China oil output up 1 to 2 […]  More »

Will Chu talk oil and gas at CERAWeek?

A common criticism of the current White House administration in the Oil Patch is they talk a lot about energy but not about oil and gas. As one colleague noted about Energy Secretary Steven Chu — who speaks at CERAWeek this morning — the only time he mentions oil is when he says ‘we need […]  More »

Entering an age of 'Global Redesign' at CERAWeek

IHS-CERA frames a lot of its research around what it calls scenarios — broad descriptions of trends and events that aren’t meant to be an exact prediction of the future, but rather a tool to let companies and organizations think about risk, change and uncertainty. A few years ago they unveiled a new round of […]  More »

CERAWeek opening day: What others are saying

The Chronicle’s energy reporters aren’t the only members of the media setting up shop downtown at the Hilton Americas this week to cover IHS Cambridge Energy Research Associates’ global energy conference. We expect a bigger media pack tomorrow, when Oil Day kicks off. For now, here’s what our colleagues had to say out of opening […]  More »

Lecturing developing nations not effective, Hormats says at CERAWeek

As today’s opening keynote drew to a close at IHS-CERAWeek, Bob Fryklund, CERA’s vice president, noted that Robert D. Hormats, U.S. Under Secretary of State for Economics, Energy, and Agricultural Affairs, seems to be emphasizing how the U.S. can effectively get emerging nations to change their behavior. “One thing we can’t do is change [developing […]  More »

Opening address of CERAWeek: Robert Hormats

Robert D. Hormats, Under Secretary of State for Economics, Energy, and Agricultural Affairs, started his keynote at IHS CERAWeek by outlining the “major transitional challenges of the early 21st century.” First, there’s a much more multi-polar economy today than in the 1940s or 1950s or most of the 20th century, including the emerging nations that […]  More »

Petrobras CEO says Gulf of Mexico is most important international investment

A few weeks ago, Petrobras’ asset manager for the Gulf of Mexico announced that its two ultradeep water fields, Cascade and Chinook, would be producing by mid-2010. Petrobras CEO Jose Sergio Gabrielli de Azevedo, who gave a luncheon speech to the Brazil-Texas Chamber of Commerce today, was a bit more specific, saying that we would […]  More »

First CERAWeek cancellation: Gazprom's Medvedev

It’s inevitable that the schedule of the CERAWeek conference will change, and the first big one of this year’s event is Gas Day’s morning keynote, Gazprom Deputy Chairman Alexander Medvedev. Here’s the e-mail from the company announcing the change: Unfortunately, the Gazprom reception honoring Alexander Medvedev, scheduled for Wednesday, March 10 at the Grove Restaurant, […]  More »

CERAWeek: Opening day features overview of industry in transition

IHS CERA The Chronicle’s energy team is setting up shop downtown at the Hilton this morning to report from IHS CERAWeek. Here’s what to expect from opening day of the global energy conference, which kicks off at noon. Noon-1:45 p.m. Luncheon and Special Address Robert D. Hormats, Under Secretary of State for Economics, Energy, and […]  More »

Venezuela's state oil company suing ConocoPhillips

ConocoPhillips was officially notified Friday that Venezuela’s state oil company, Petroleos de Venezuela SA, is taking it to court over a joint venture in Texas. The dispute is over the Merey Sweeny coker, a unit of the Sweeny refinery located in Brazoria County. ConocoPhillips holds a 50 percent interest in Merey Sweeny, while PDVSA holds […]  More »

Oil prices: the return of the fundamentals?

Oil prices have largely bounced around between $70 and $80 for the past six months or so, influenced most heavily by issues such as the weakness of the U.S. dollar rather than supply-and-demand. But after gaining more thatn 9.3 percent in February, crude for April delivery closed at $81.50 a barrel on Friday, the highest […]  More »