Fuel Fix

An oil pump jacks sits on a Osage County ranch in Oklahoma. (Mayra Beltran/Houston Chronicle)

Crude prices tank after oil supply added nearly 2 million barrels

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Categories: Crude oil, featured
Crude oil prices opened lower and continued to fall in Wednesday trading, as the markets parsed new data showing the oversupply of crude isn’t about to evaporate.

Crude prices tank after oil supply added nearly 2 million barrels

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Categories: Crude oil, featured
An oil pump jacks sits on a Osage County ranch in Oklahoma. (Mayra Beltran/Houston Chronicle)
Crude oil prices opened lower and continued to fall in Wednesday trading, as the markets parsed new data showing the oversupply of crude isn’t about to evaporate.
(Photographer: Andrey Rudakov/Bloomberg)

Shell moves forward on major Gulf of Mexico platform

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Shell said it authorized the major project after finding 20 percent in cost reductions and determining that it will produce a profit as long as the global benchmark for oil prices stays above $55 a barrel.

(Michael Paulsen / Houston Chronicle)

Texas tops nation in new wind power construction

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Developers were installing a record level of wind turbines as 2013 came to a close, with most of the new capacity coming in Texas, according to new figures released Thursday.
Categories: Wind
A Canadian Pacific Railway Ltd. train transporting oil leaves Hardisty, Alberta, Canada. (Brett Gundlock/Bloomberg)

Exxon to move Canadian crude by rail amid pipeline shortage

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With limited pipeline options to ship oil sands crude out of Canada, Exxon Mobil Corp. plans to move up to 100,000 barrels per day of Canadian oil using a new rail terminal that should be running by 2015, an executive said Thursday.
Categories: Canada, featured, Pipelines, Rail

Exxon Mobil has about 86 percent of its oil and gas production in what rating agencies consider less risky OECD countries, according to the analysis.(Carlos Javier Sanchez/ Special to the Chronicle)

Exxon earnings drop on lower production, refining margins

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HOUSTON — Exxon Mobil Corp., the world’s largest oil company by market value, said its fourth-quarter earnings fell 16 percent because of lower oil revenue and refining margins.
Categories: Finance/Earnings
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Shell pledges spending cuts, asset sales to restore profit

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Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden promised to slash capital spending and accelerate asset sales to revive earnings at Europe’s largest oil producer.
Categories: Finance/Earnings
The Xiang Yun Kou heavy-lift vessel departs for South Korea after safely loading the Noble Discoverer drillship. (COSCO Heavy Transport)

Shell’s delay ignites calls for deep freeze on Arctic drilling

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Environmentalists celebrated Shell’s decision to put its 2014 Arctic drilling plans on ice, but drilling advocates said they hope it’s just a temporary setback.
Categories: Arctic
(AP file photo/Reed Saxon)

Occidental earnings rise as CEO pursues breakup

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Occidental Petroleum Corp., the biggest oil producer in Texas, said fourth-quarter profit rose as Chief Executive Officer Stephen I. Chazen pursues a breakup after a shareholder revolt last year.
Categories: Finance/Earnings
An Enterprise fractionator at its Mont Belvieu complex. (Enterprise Products Partners photo)

Enterprise Products Partners reports record year

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Enterprise Products Partners distributed $2.74 per unit to its investors last year, the Houston pipeline company said in announcing fourth-quarter and full-year financial results.