A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

U.S. crude inventories break decades-old record after huge build

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A higher-than-expected build of 7.8 million barrels for the week ending on Jan. 29 pushed inventories to 502.7 million barrels.
Spectra Energy Corp. unveiling its Houston headquarters in 2007.  (Steve Ueckert / Chronicle)

Spectra slips on cheap NGLs, lower Canadian dollar

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Spectra Energy’s beleaguered naturals gas liquids business and a weaker Canadian dollar dragged down what was otherwise strong end to 2015, the company reported Wednesday.
(Jeff Kowalsky/Bloomberg News)

Marathon Petroleum profits dip more than 75 percent

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The Pennsylvania-based refining and pipeline company reported a $168 million net income gain for the final three months of the year, down from $805 million.
Equipment is housed at National Oilwell Varco's distribution center in La Porte, Texas. (NOV)

NOV records $1.5 billion net loss for the fourth quarter

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The oilfield equipment and services giant saw its revenues drop 60 percent in the quarter, but NOV also recorded $1.63 billion in pre-tax impairment charges.
This Nov. 3 file photo provided by Southern California Gas Co., shows equipment being used as SoCalGas crews and technical experts attempt to stop the flow of natural gas leaking from a storage well at the utility’s Aliso Canyon facility. (Javier Mendoza/SoCalGas via AP)

Los Angeles DA charges utility with crimes for gas leak

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State regulators are investigating the cause of the leak, but they said they won’t know until the well is plugged, which is expected by the end of the month.
(Jamie Schwaberow/Bloomberg)

Anadarko to grow leaner amid low prices

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Anadarko outlined Tuesday a corporate hibernation for 2016 that executives said will carry the independent oil and gas producer through the oil bust.
Wind turbines manufactured by Gamesa Corp. stand at the Bharat Light & Power Ltd. Amberi wind farms in Rewalkawadi, Maharashtra, India, on Tuesday, Sept. 9, 2014. Prime Minister Narendra Modi's government in July restored a wind-farm tax benefit, which could propel wind installations to a three-year high of 2,600 megawatts in 2014, according to Bloomberg New Energy Finance. Photographer: Dhiraj Singh/Bloomberg

Renewable energy forecast to grow 9 percent in 2016

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On a percentage basis the largest gains are expected to come in solar energy, which is anticipated to grow 28 percent.
LyondellBasell CEO Bob Patel poses for a portrait at the LyondellBasell Channelview Chemical Company plant Friday, Aug. 21, 2015, in Channelview. 
 ( James Nielsen / Houston Chronicle )

LyondellBasell’s revenues dip by 31 percent, but earnings stay steady

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LyondellBasell is planning to spend up to $4 billion in capital through 2020 along the Gulf Coast, mostly in Texas.
Exxon Mobil Corp. signage is displayed at a gas station in Richmond, Kentucky, U.S., on Wednesday, April 29, 2015. Exxon Mobil Corp. is scheduled to release earnings data on April 30. Photographer: Luke Sharrett/Bloomberg

Exxon Mobil cutting spending, but could still boost output 250,000 barrels a day

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The oil company lost money in U.S. oil production, reporting a $538 million net loss in the fourth quarter as its regional production earnings fell by $2 billion.
Flags fly outside Dow Chemical Co. headquarters in Midland, Michigan, U.S., on Wednesday, Dec. 9, 2015. Dow Chemical Co. and DuPont Co., two historic giants of American industry, are considering a merger that would ultimately dismantle both along lines proposed by activist investors over the past two years. Photographer: Jeff Kowalsky/Bloomberg

Dow reports increased income, job cuts as DuPont merger looms

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Dow, the largest employer in Brazoria County, is planning to merge into the newly formed DowDuPont by the end of the year.