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’s beleaguered naturals gas liquids business and a weaker Canadian dollar dragged down what was otherwise strong end to 2015, the company reported Wednesday.
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.
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.
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.
Anadarko outlined Tuesday a corporate hibernation for 2016 that executives said will carry the independent oil and gas producer through the oil bust.
On a percentage basis the largest gains are expected to come in solar energy, which is anticipated to grow 28 percent.
LyondellBasell is planning to spend up to $4 billion in capital through 2020 along the Gulf Coast, mostly in Texas.
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.
Dow, the largest employer in Brazoria County, is planning to merge into the newly formed DowDuPont by the end of the year.