Fuel Fix

Saudi Arabia's Minister of Petroleum and Mineral Resources Ali Ibrahim Naimi speaks to journalists at OPEC's meeting in Vienna. (AP Photo/Ronald Zak)

Oil price hit by OPEC numbers as Saudis stand firm on output

OPEC cut the forecast for how much crude it will need to produce next year by about 300,000 barrels a day to 28.9 million a day, the least since 2003.  More »
Rich Kinder, left, chairman and CEO of Kinder Morgan. (Melissa Phillip / Houston Chronicle )

Kinder Morgan COO says he’ll take the reins

Kinder Morgan’s second-in-command Steve Kean said he will eventually take over as CEO of the nation’s largest pipeline company by market value after Richard Kinder steps back.  More »
(Eddie Seal/Bloomberg)

Goodrich pares spending plans, considers selling Eagle Ford assets

In the first half of next year, Goodrich will explore “strategic alternatives” for all or a portion of its Eagle Ford acreage to give the company greater flexibility to expand development under better market conditions, the company said in a release Wednesday.  More »
(Matthew Lloyd/Bloomberg)

BP sees $1 billion in restructuring charges as oil falls

The British oil giant is gearing up to weather at least two years of lower oil prices and the contraction in the oil industry that goes with it.  More »
Iranian President Hassan Rouhani pauses before delivering the country's draft budget to the parliament speaker at the parliament in Tehran, Iran, Sunday, Dec. 7, 2014. (AP Photo/Vahid Salemi)

Iranian president calls fall in oil prices ‘treachery’

Rouhani spoke at a Cabinet meeting Wednesday about what he thought was a “politically motivated” fall in prices.  More »
(AP Photo/Vahid Salemi, File)

As oil resumes drop, Iran sees $40 if there’s OPEC discord

Brent collapsed 15 percent since OPEC agreed to leave its production ceiling unchanged on Nov. 27, resisting calls from members including Venezuela to cut output to stabilize prices.  More »
(AP file photo/John Moore)

OPEC says 2015 demand for its crude will be weakest in 12 years

OPEC lowered its projection for 2015 by about 300,000 barrels a day, to 28.9 million a day.  More »
Chevron CEO John S. Watson delivers a keynote address during the American Association of Blacks in Energy National Conference in Houston in April 2014. ( Mayra Beltran / Houston Chronicle )

Chevron to delay capital spending announcement

Chevron, the second largest U.S. integrated energy company, announced Tuesday that its budget won’t be made public until early next year.  More »
A Gunnison Sage Grouse. (AP Photo/Colorado Parks and Wildlife, Dave Showalter)

Sage grouse scares off BLM oil, gas bidders in Nevada

The U.S. Fish and Wildlife Service is expected to decide early next year whether to grant a petition by conservationists to list the bird as threatened or endangered.  More »
Yellow oil barrels

Crude oil climbs back from 5-year lows

WTI for January delivery rose 77 cents, or 1.2 percent, to settle at $63.82 a barrel.  More »
(AP Photo/US Coast Guard, File)

Feds blast BP’s request to cut billions in spill fines

The outcome of this latest legal tussle between the British oil giant and federal prosecutors could mean a difference of $11 billion on BP’s final bill for spilling millions of barrels of oil into the ocean four years ago.  More »
Sweeny is the largest refinery by capacity in the portfolio of Phillips 66, Houston’s biggest Fortune 500 company. (Ryan Holeywell/Houston Chronicle)

Phillips 66 eyeing condensate splitter for Sweeny

The Houston-based company has applied for a permit from the state’s environmental regulator to build a simplified splitter unit at its Sweeny refinery.  More »
(Mayra Beltran / Houston Chronicle)

Exxon: North America to be energy exporter by 2020

The company’s forecast outlined an about 35 percent growth in energy demand across the world through 2040, driven mostly by a growing population and the rise of an energy-hungry middle class in developing countries.  More »
Rep. Joe Barton, R-Texas (AP Photo/Haraz N. Ghanbari)

Texas congressman introduces bill to end export ban

A top House Republican is introducing legislation to end the nation’s longstanding ban on crude exports, as the oil industry campaigns for the freedom to sell the fossil fuel around the world.  More »
dollar falling graph

WTI to average $63 a barrel next year, feds predict

The price for U.S. benchmark oil is $15 lower than in last month’s report.  More »