Fuel Fix

(Jordan Blum/Houston Chronicle)

Getting a glimpse of Exxon Mobil’s new campus

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The complex resembles a modern college campus with plenty of landscaping, about 20 buildings, three large parking garages, a wellness center and more.

Getting a glimpse of Exxon Mobil’s new campus

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(Jordan Blum/Houston Chronicle)
The complex resembles a modern college campus with plenty of landscaping, about 20 buildings, three large parking garages, a wellness center and more.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Oil industry needs half a trillion dollars to endure price slump

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If oil stays at about $40 a barrel, the shakeout could be profound.

Sen. Robert Menendez, D-N.J., listens during a congressional hearing. (AP Photo/Charles Dharapak)

Robert Menendez floats ‘strategic’ crude exports

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Sen. Robert Menendez, D-N.J., has historically opposed oil exports, but on Tuesday, he floated the possibility of “strategic” crude sales to U.S. allies while a nuclear deal with Iran is renegotiated.
Floor hands Jose Garza, left, and Jose Salinas set slips to hold drilling pipe in the mouse hole on the Orion Perseus drilling rig near Encinal in Webb County, Texas, U.S., on Monday, March 26, 2012. The Perseus is drilling for oil and gas in the Eagle Ford Shale, a sedimentary rock formation underlying an area of South and East Texas. Photographer: Eddie Seal/Bloomberg *** Local Caption *** Jose Garza; Jose Salinas

Oil and gas cos. among most profitable per employee, analysis finds

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Researchers from FindTheCompany calculated profits per employee among companies on the S&P 500 in 2014. Among the top 25 companies ranked according to that metric, 15 were oil and gas exploration and production companies.
Categories: Crude oil, Workforce
(AP Photo/Gerald Herbert, File)

Senators ask SEC to probe oil companies’ risk disclosure

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A dozen Democrats insist oil companies aren’t telling shareholders the gritty reality of their crude pursuits, including the environmental and financial risks of drilling in the Arctic Ocean and other frontier areas.
A well is drilled at an Apache Energy site in the Permian Basin in Midland, Texas, Feb. 14, 2012. (Jim Wilson/The New York Times)

Citigroup report: Worries of $33 oil leaving markets “nervy”

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The new “How low can oil go?” report contends that capital markets are “getting nervy” and one of the only ways to stop this downward trend is for North American shale companies to lose more access to capital during the next phase of borrowing negotiations in October, called redetermination.
Categories: Crude oil, featured
(AP Photo/Charles Rex Arbogast, File)

U.S. oil could return to 2008 low of $32 in Citigroup view

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Crude has tumbled more than 30 percent since June amid signs that producers are maintaining output even after oil fell back into a bear market.
Categories: Crude oil, featured, p2
An aerial view of the Ensco 8502 drilling rig in the Gulf of Mexico. (Jennifer Dlouhy/Houston Chronicle)

Low oil prices drive down bidding for Gulf of Mexico drilling rights

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With just five companies participating and only 33 leases sold, the turnout was the lowest western Gulf auction since area-wide leasing began in 1983, according to the Bureau of Ocean Energy Management.
Pipelines at the LOOP Oil storage hub.

Rising inventories knock U.S. oil below $41 per barrel

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The U.S. benchmark crude price fell as much as $1.71 to $40.91 per barrel on the New York Stock Exchange, its lowest point in intraday trading since 2009. It’s also 96 cents below this year’s lowest settlement.