Fuel Fix

Phillips 66 saw its profits double as crude prices plummeted. (AP Photo/Lisa Poole, File)

Phillips 66 profits double on crude price plummet

Plummeting crude prices worldwide doubled Phillips 66′s profits in the third quarter, providing the company with a cheaper feedstock to run its refineries.  More »
Abdalla El-Badri, OPEC general secretary (Chris Ratcliffe/Bloomberg)

OPEC head tells oil market to stop panicking about prices

Crude collapsed into a bear market this month as Saudi Arabia and other producers deepened price discounts for their oil.  More »
(SAMAD/AFP/Getty Images)

Calls for $100-a-barrel oil show many betting on rebound

Higher prices will be back soon enough because the current slowdown in demand growth will prove fleeting, many in the market are saying.  More »
Patrick Pouyanne at the Intercontinental Hotel  in Houston. (Sharon Steinmann / Chronicle )

Total’s Pouyanne sticks to cost-cutting as profit falls

Patrick Pouyanne, who was named to succeed de Margerie last week, plans to “hit the road” to visit contacts in the oil industry and in several resource-rich countries  More »
(AP Photo/Lai Seng Sin)

Pirates target oil tankers in Asia route as attacks climb

Gangs of thieves armed with knives and guns are making Southeast Asian waters increasingly dangerous for small tankers carrying fuels such as gasoil or marine diesel.  More »
John B. Hess, chairman and chief executive officer of Hess Corp. (F. Carter Smith/Bloomberg News)

Hess announces plans to proceed with $6 billion Gulf project

The announcement comes at a time when many observers have questioned what sliding oil prices will mean for the future of the oil industry.  More »
Shell used the drillship Noble Discoverer for its 2012 drilling in the Chukchi Sea north of Alaska.  (Jennifer A. Dlouhy / The Houston Chronicle)

Oil companies want more time for Arctic drilling

Three oil companies with billions invested in Arctic drilling leases are pleading with the Obama administration for extra time to hunt for crude under waters north of Alaska, but so far, federal regulators have been skeptical.  More »
permian basin

Anadarko-affiliated partnership to pay $1.5 billion for Permian midstream company

Western Gas Partners, a partnership formed by Anadarko, will pay $1.5 billion cash for Nuevo Midstream, a Houston-based  midstream company focused on gathering, processing and moving oil and gas from the Permian Basin.  More »
(AP Photo/Richard Drew, File)

Commentary: Lower crude prices aren’t all bad for the industry

Lower crude prices bring benefits to the industry.  More »
The Deepwater Millennium drillship  works on an Anadarko Petroleum Corp. project in the Rovuma Basin off the coast of Mozambique. (Anadarko Petroleum Corp.)

Anadarko profits jump on U.S. oil production

Anadarko Petroleum Corp.’s net income surged fivefold in the third quarter.  More »
Yellow oil barrels

Oil futures rise with consumer confidence report

Oil for December delivery rose 42 cents, or 0.5 percent, to settle at $81.42 a barrel on the New York Mercantile Exchange.  More »
Chenieretour

Cheniere’s Sabine Pass terminal nearing finish line

As companies scramble to announce new plants and expansion projects to capitalize on abundant supplies of cheap, natural gas, Cheniere Energy is nearly finished with the first phase of its liquefaction export terminal.  More »
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