(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”
(Photographer: Daniel Acker/Bloomberg)

Williams to evaluate sale before merger vote

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The Williams Cos. said Wednesday it wouldn’t hold a shareholder vote on its proposed $13.8 billion consolidation until after the company finishes evaluating a potential sale.
(AP Photo/Al Grillo)

Miller Energy hopes to avoid bankruptcy

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Miller Energy, which recently relocated from Tennessee to Houston, has increasingly focused all of its areas on production in Alaska, specifically the Cook Inlet area, and faced problems ranging from delays to dud wells.
Poly-lines carry gas from an oil production well pumping unit at the Newfield Exploration Company's Monument Butte field in northern Utah. (Steve Campbell/Chronicle Staff)

Newfield appoints two veteran industry executives to its board

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The appointments come as Newfield seeks to grow its domestic resource plays, the company said.
Categories: Exploration, Production
A gas flare is seen in an aerial view in the early morning hours of July 30, 2013 near Watford City, North Dakota. (Photo by Andrew Burton/Getty Images)

Industrial natural gas use to continue to grow quickly, EIA says

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New plants coming online are set to drive industrial natural gas growth forward by more than three percent in the next two years, the U.S. Energy Information Administration said in an analysis Wednesday.
In this April 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana's tip, as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig. (AP Photo/Gerald Herbert, File)

Judge: Local governments, including Houston, will get their BP payments soon

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A federal judge said this week BP has until late August to start processing payments totaling $1 billion to the 400 local governments along the Gulf Coast that were part of the British oil major’s $18.7 billion Deepwater Horizon oil spill settlement inked earlier this month.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

Crude gains on inventory decline

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Crude oil shot up Wednesday, after a government report showed an unexpected decline in stores of oil last week.
Anadarko Petroleum Corporation CEO Al Walker, gives a speech after his company won top ranked large employer during the Houston Chronicle's Top Workplaces Awards Gala, Thursday, Nov. 8, 2012, in Houston. (Nick de la Torre/Houston Chronicle)

Anadarko CEO: Outlook still uncertain for shale comeback

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Earlier in the year, before initial declines in service costs, Anadarko had estimated it would take $3 billion in capital expenditures to keep production levels flat. Now, Walker said, it would take about $2.7 billion, and there is still room for improvement.
John Hess, chairman and CEO of Hess Corp. (F. Carter Smith/Bloomberg )

Hess Corp. posts $567 million loss

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Hess, which has a major Houston presence, saw its income fall from a gain of $931 million during the same time last year. Excluding one-time expenses, Hess posted adjusted net income of a $147 million loss, or a loss of 52 cents per share, down from a $432 million gain last year, or $1.38 a share.
peter huntsman

Huntsman Corp.’s profits fall 75 percent after plant outage

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An outage at a Texas plant and a stronger U.S. dollar caused Huntsman Corp.’s profits to tumble by 75 percent in the second quarter.