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(AP file photo/George Osodi)

Tension returns to Nigeria to threaten crude exports

Fifty-seven years after the birth of founding member Lol Tohurst, and the crude complex is still exploring whether ‘The Cure’ for low oil prices is…low oil prices. Last night’s API report had a considerably bearish tilt, yielded a solid build of 3.8 million barrels to crude stocks, while Cushing stocks edged up also. It was […]
Categories: Africa, Crude oil
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Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, Jan. 20, 2016. U.S. stocks surged back to pare the biggest one-day selloff in five months, with the Dow Jones Industrial Average cutting a loss of 550 points by two-thirds as investors speculated the rout that's wiped more than $15 trillion from global equities has gone too far too fast. Photographer: Michael Nagle/Bloomberg

Ten things to consider in energy markets today

Good day! Here are ten things to consider on this second day of February, 2016: 1) Punxsutawney Phil didn’t see his shadow, meaning an early start to spring. (If you are of the persuasion of taking your meteorological tips from a marmot). (I prefer the woolly worm). 2) The duplicitous nature of strong production versus […]

BP CEO: oil outlook ‘lower for longer, but not lower forever’

The oil-market crash cost BP more last year than the Deepwater Horizon disaster cost it in 2010.
A  2010 file photo shows a sign at a BP  station in London. (AP Photo/Alastair Grant, File)

BP upstream chief to become deputy CEO amid reorganization

BP announced a reorganization of its top managers Monday and said its upstream chief will become deputy CEO and share duties with CEO Bob Dudley as the British oil major navigates one of the worst oil downturns in decades.
Patrick Pouyanné, CEO of French oil company Total, speaks at the IHS Energy CERAWeek in Houston. (Billy Smith II / Houston Chronicle)

Total CEO says company will not cut jobs, will need workers “when the price goes up”

Total announced in September that the company would reduce 2016 spending, down to between $20 billion and $21 billion from the $24 billion spent in 2015.
(AP Photo/Xinhua, Jin Liangkuai)

China offshore giant to cut oil output for first time since 1999

Total spending last year missed the company’s original target, highlighting how producers have struggled with oil’s plunge to a 12-year low.
(Matthew Lloyd/Bloomberg)

BP to cut 4,000 jobs in 2016 amid oil rout

BP plans to cut another 4,000 jobs from its global oil-production operations this year, including in the United States, to cope with the ongoing downturn in crude prices.
(Matthew Lloyd/Bloomberg)

BP sells Alabama petrochemical complex to Thai company

The terms of the deal were not disclosed and BP declined further comment, but the acquisition makes sense on the surface for Indorama because it already owns adjacent manufacturing plants in Decatur.
Oil wells in the Franja del Orinoco region of Venezuela (Houston Chronicle)

These are the energy stories Houston cared about in 2015

With crude prices stuck firmly below $40 a barrel, and energy companies predicting another austere year in 2016, here’s a look back at some of the most popular stories that appeared on this year.
A rig worker looks out across the North Sea aboard the Troll A natural gas platform, operated by Statoil ASA, in the North Sea, Norway, on Wednesday, Oct. 21, 2015. Norway is on track for record gas production this year after Statoil ASA put an end to technical issues that limited Troll's capacity. Photographer: Krister Soerboe/Bloomberg

Oil platforms evacuated in North Sea due to drifting barge

Company spokesman Jan-Erik Geirmo said the evacuees were taken to other oil fields as a precaution, and that 85 people remained on platforms in the Valhall field Thursday morning.