(Shane Bevel/Bloomberg News)

Crude prices are jumping as production falls

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The U.S. Energy Information Administration said Wednesday that stocks of crude oil in commercial storage had grown to 471 .4 million barrels, the highest level seen in the last 80 years.
Screen grab from a video released by Diario Campeche Hoy of the Abkatun A-Permanente platform  on the Gulf of Mexico's Campeche Sound on fire on April 1, 2015.  An explosion and a fire erupted on an offshore oil platform operated by Mexico's Pemex on Wednesday, killing at least four workers, injuring 16 and forcing 300 to be evacuated. (AFP photo/Diario Campeche Hoy)

Pemex platform fire kills four workers, injures 16

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A fire at a shallow-water oil platform in the Gulf of Mexico has killed four workers, injured 16 and forced the evacuation of 300, Mexico’s state-owned oil company said Wednesday.
Kinder Morgan's Edmonton and North 40 Terminals in Canada. (Kinder Morgan)

Kinder Morgan and Keyera are building crude oil storage for 4.8 million barrels in Alberta

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The project, called the Base Line Terminal, will include 12 tanks that are expected to be commissioned by the second half of 2017.
Chet Thompson is set to take over as president of the American Fuel and Petrochemical Manufacturers trade group in May 2015.

A former EPA lawyer has been tapped to lead U.S. refiners’ top lobbying group

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The hire suggests the American Fuel and Petrochemical Manufacturers trade association is preparing for big battles on biofuel mandates, crude-by-rail rules and oil exports.
A Frank's International crew works on a rig. (Frank's International handout photo)

Frank’s International says it will cut up to 600 jobs

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Job cuts at Frank’s International follow tens of thousands of job cuts in the oil field service industry, a labor-intensive business that has been hammered by falling oil prices since June.
Oil flows out of the top of the transition spool, which was placed into the gushing Macondo wellhead at the site of the Deepwater Horizon oil spill in the Gulf of Mexico in July 2010. AP Photo/BP PLC, File)

Judge says jury can decide Alabama’s Gulf-oil-spill claims

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BP had moved to block a jury trial for the state.
Categories: Gulf oil spill
(Offshore Technology Conference)

OTC panel to talk big ideas on fifth day of programming

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Organizers described the lineup as more like South by Southwest or X-Games than an industry conference.
Russell Ashford welds a stainless steel exhaust pipe for a turbine engine at Turbine Power Technology Monday, Feb. 25, 2013, in Franklin, La. ( Brett Coomer / Houston Chronicle )

Texas manufacturers are blaming oil prices for March’s production slump

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Production tumbled into negative territory in March for the first time in nearly two years, pointing to a contraction in factory activity.
(RJ Sangosti/The Denver Post via Getty Images)

Sabine Oil & Gas working to avoid defaulting on its debt

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All told, Sabine had $2.82 billion in debt as of March 15, with $326.8 million in cash on hand.
The Polar Pioneer, a drilling rig contracted by Shell for Chukchi Sea exploration in 2015, is transported across the Pacific on the heavy-lift vessel Blue Marlin. (Photo: Vincenzo Floramo / Greenpeace)

Shell’s Arctic drilling plans on track as Obama administration OKs lease sale

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The Bureau of Ocean Energy Management says there’s more than four times as much oil in the Arctic’s Chukchi Sea as it previously estimated.