BHP Billiton Petroleum said Monday it will hire hundreds of new employees and lease a 30-story office tower to be built at 1500 Post Oak Blvd. to accommodate its expanding shale business and future growth. More »
Ensco, one of the leading offshore service providers, is aggressively investing its resources, gambling that robust dayrates of up to $600,000 per day for offshore platforms will make up for the costs of maintaining and upgrading its fleet.
Malicious software unintentionally downloaded by offshore oil workers has incapacitated computer networks on some rigs and platforms, exposing gaps in security that could pose serious risks to people and the environment, cybersecurity professionals told FuelFix. More »
The frenzy to sell more U.S. natural gas overseas has sparked a bitter, unseemly skirmish among Big Business that has such heavyweights as Dow Chemical Co. and GE squaring off over the prospect. More »
A lingering gap between the prices of West Texas Intermediate crude and oil produced elsewhere is complicating the reliability of the longtime benchmark as the standard for pricing a barrel of black gold. More »
China Petrochemical Corp., the nation’s second-largest energy company, will pay $1.02 billion to buy 50 percent of Chesapeake Energy Corp. (CHK)’s Mississippi Lime assets, seeking to benefit from surging U.S. crude output. More »
Five years after their record- setting leveraged buyout of Energy Future Holdings Corp., KKR & Co. and TPG Capital are moving closer to a possible new milestone: the biggest bankruptcy of a private equity-backed company since the failure of Chrysler Group LLC. More »
Iraq’s political factions failed to agree on the amount of money due to international oil companies working in the semi-autonomous Kurdish region, said Ammar Tohme, a lawmaker from the ruling coalition. More »
While Vermonters debate school budgets and whether to spend money on new equipment on Town Meeting Day, some communities also will take up resolutions opposing the transport of tar sands oil through Vermont and recommending a ban on assault weapons, following the mass school shooting in Connecticut. More »
Promises BP made to its investors drove the company’s decisions to choose speed over safety, a lawyer for plaintiffs suing the British oil giant said as a civil trial began Monday. As a result, BP rushed its Gulf of Mexico well, leading to the 2010 oil spill disaster. More »
Chevron Corp., the second-largest U.S. energy company, agreed to pay as much as $349 million to join Beach Energy Ltd. in a natural gas exploration campaign in central Australia in its first shale investment in the country. More »
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