Wind turbines stand in this aerial photograph taken above the Haengwon Wind Farm in Jeju, South Korea, on Sunday, June 28, 2015. South Korea’s 15 trillion won ($13.3 billion) extra budget will channel money to the medical and tourism sectors as the Park administration seeks to cushion the impact of a deadly respiratory disease. Photographer: SeongJoon Cho/Bloomberg

GE launches new renewable energy business

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The new business unit is heavily focused on wind power and turbine manufacturing.
(Chris Ratcliffe/Bloomberg)

BP looks to sell Alabama petrochemical complex

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BP said it is focusing more on world-scale, low-cost facilities that utilize BP proprietary technology.
U.S. regulators expect their review of the proposed Halliburton-Baker Hughes merger to last into the new year.  (AP Photo)

Reports: Halliburton plant in the Panhandle a total loss after tornado

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The sprawling facility sustained extensive damage from a tornado that ripped through the Pampa area, a Gray County sheriff’s deputy said.
(Jeff Kowalsky/Bloomberg News)

Marathon ups “final offer” for MarkWest, bringing deal to $1.28 billion

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The move Tuesday comes just a week after Marathon offered a separate $400 million cash sweetener to the deal that has faced some investor resistance and tumbling stock values for both Marathon’s acquiring entity, the MPLX pipeline spinoff, and MarkWest. Former MarkWest CEO John Fox has rallied opposition against the deal.
Equipment is housed at National Oilwell Varco's distribution center in La Porte, Texas. (NOV)

Job losses continue across Texas as services firms cut back

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Oil field services companies reeling from the worst downturn in years continued hemorrhaging jobs this week as three providers announced plans to chop nearly 400 jobs in Houston and across the state amid an oil rout that shows no signs of abating.
(Ty Wright/Bloomberg)

Gasoline prices are back on the decline, despite global terrorism concerns

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Average retail prices on Monday for regular unleaded gasoline dipped by nearly 3 cents from last week down to $1.91 for the Houston area and $1.92 for Texas as a whole, according to GasBuddy’s daily survey data. In Houston, prices are 78 cents lower than the same time last year.
Noble Energy hunts for oil offshore Israel in the Tamar field. The Houston-based oil company has stalled its Israel investments after a dispute with the country's anti-trust regulators. (Noble Energy)

Noble agrees to sell off stake in two small Israeli gas fields for $67 million

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Noble Energy agreed to sell of its stake in two undeveloped gas fields in the Eastern Mediterranean to satisfy concerns that the Houston oil company held too much control over the country’s natural gas resources.
A dog is silhouetted as 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

Planned Texas wind farm to power Owens Corning, Equinix

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Chicago-based Invenergy will build a new 300-megawatt Texas wind farm near Lubbock to power Owens Corning insulation and fiberglass giant and Equinix data center company.
(Spencer Platt/Getty Images)

U.S. oil rig count ticks up after 10 weeks of declines

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Oil field operators have pulled back about 65 percent of the rigs that were operating at the peak of the U.S. oil boom in October 2014.
(Tomohiro Ohsumi/Bloomberg)

Natural gas inventories approach bearish milestone

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The 49 billion cubic foot injection into storage reported by the U.S. Energy Information Administration brought total inventories to 3.98 billion cubic feet.