Fuel Fix

Ryan Lance, ConocoPhillips CEO, speaks during the opening panel discussion of the 2015 IHS Energy CERAWEEK. (Brett Coomer/Houston Chronicle)

Top energy bosses buck trend of falling executive pay

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The 10 highest-paid executives in Houston last year all work in the energy industry and, despite domestic oil’s long and lingering swoon that began last summer, seven of them made more money than they did in high-flying 2013.
(Photographer: Eddie Seal, Bloomberg)

Return to drilling sends rig count up by 21

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Categories: Crude oil, featured

Top energy bosses buck trend of falling executive pay

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Ryan Lance, ConocoPhillips CEO, speaks during the opening panel discussion of the 2015 IHS Energy CERAWEEK. (Brett Coomer/Houston Chronicle)
The 10 highest-paid executives in Houston last year all work in the energy industry and, despite domestic oil’s long and lingering swoon that began last summer, seven of them made more money than they did in high-flying 2013.
(Photographer: Eddie Seal, Bloomberg)

Return to drilling sends rig count up by 21

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U.S. drillers put more oil rigs to work this week than they have since last April, according to Friday’s Baker Hughes rig count.
Categories: Crude oil, featured

Commentary: The Latest Lifting of Fuel Subsidies in the Middle East

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In recent days the United Arab Emirates (UAE) has announced it will be cutting fuel subsidies starting August 1. It joins a growing list of countries that are taking the opportunity from a precipitous drop in oil prices in the last year to unwind longstanding subsidies. While advantageous for the Gulf state’s finances, the brunt of […]
(Johnny Hanson/Houston Chronicle file photo)

Halliburton, Baker cut workforces deeper, bringing layoffs to 27,000

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Halliburton has cut nearly 14,000 jobs and Baker Hughes has laid off 13,000 employees since they began trimming their headcounts last year to cope with the oil-market crash, officials said Monday.

A General Electric Co. employee assembles a component for a gas turbine at the company's factory in Belfort, France. (Fabrice Dimier/Bloomberg)

GE books $2.5 billion African orders from oil to locomotives

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GE expects to seek financing for projects worth at least $1.5 billion in Africa each year as it expands its footprint in a region increasing investment in infrastructure development, and exploitation of its natural resources.
Categories: Africa, Crude oil
Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

Oil majors delay $200 billion of spending, Wood Mackenzie says

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Brent crude prices have dropped by half in a year after the Organization of Petroleum Exporting Countries decided to maintain output to defend market share amid a global supply glut.
This  April 17, 2015 file photo, with the Olympic Mountains in the background, a small boat crosses in front of an oil drilling rig as it arrives in Port Angeles, Wash., aboard a transport ship after traveling across the Pacific.  (Daniella Beccaria/seattlepi.com via AP, File)

Damaged Shell icebreaker arrives in Oregon for repairs

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Environmental activists in Portland are protesting the arrival of the Fennica, a vessel that Royal Dutch Shell plans to use in its Arctic offshore drilling project after it’s repaired.
A wind farm under construction off the southeast side of Block Island R.I., July 21, 2015. A few miles off the coast, a small flotilla has been gathering: crane vessels, tugboats and barges that began this week installing the 840-ton foundations of the nation’s first commercial-scale offshore wind farm. (Gregg Vigliotti/The New York Times)

First U.S. offshore wind farm raises hopes for industry revolution

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While there’s plenty of potential energy to harness, offshore wind has been mostly stymied by high costs. Onshore turbines are some of the cheapest sources of electricity, with an average cost of about $85 a megawatt-hour, according to data compiled by Bloomberg. Coal costs about $90.
Categories: Wind
NuStar Energy LP has invested millions of dollars to transform the only refinery in San Antonio’s city limits, which was once owned by AGE Refining. Photo: Photo By Robin Jerstad/Special T / SA

NuStar Energy’s net income declines

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Pipeline partnership NuStar Energy LP on Friday reported second-quarter 2015 net income applicable to limited partners of $42.4 million, or 54 cents a unit, compared with $43.6 million, or 56 cents a unit, for the same period a year ago.
Categories: Crude oil