Fuel Fix

(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”

Shell to ax thousands of jobs amid $7 billion in spending cuts

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(Photographer: Andrey Rudakov/Bloomberg)
The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”
Anadarko Petroleum Corporation CEO Al Walker, gives a speech after his company won top ranked large employer during the Houston Chronicle's Top Workplaces Awards Gala, Thursday, Nov. 8, 2012, in Houston. (Nick de la Torre/Houston Chronicle)

Anadarko CEO: Outlook still uncertain for shale comeback

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Earlier in the year, before initial declines in service costs, Anadarko had estimated it would take $3 billion in capital expenditures to keep production levels flat. Now, Walker said, it would take about $2.7 billion, and there is still room for improvement.

A Sanchez Energy well in the Eagle Ford Shale. (Sanchez Energy)

Sanchez Energy shares drop after watery well report

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An Eagle Ford well yielded more water than oil.
Categories: Eagle Ford
Anadarko driller Brazil

Anadarko deal boosts investor confidence in face of large liabilities

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Anadarko Petroleum’s deal to sell its stake in a Chinese offshore oil field should ease investors’ fears about environmental liabilities that could reach billions of dollars, analysts said Tuesday.
Categories: Crude oil, Deals, Environment

The West Texas sky silhouettes a Linn Energy pumpjack in the Permian basin. (Linn Energy)

Diamondback buys acreage in Permian

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Diamondback Energy, Inc. has paid $174 million for a stake in 6,450 acres of leasehold interest in the Permian Basin that it believes could be a contender for horizontal drilling, the company announced Tuesday.
Categories: Deals
Part of the containment vessel for a new nuclear reactor at the Vogtle nuclear power plant under construction in Augusta, Ga. (AP Photo/John Bazemore, File)

Energy Department expected to OK nuclear plant loan

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The Vogtle nuclear plant is now under construction in eastern Georgia.
Categories: Nuclear
Coal ash is scooped up on a canoe paddle from the bank of the Dan River as state and federal environmental officials continued their investigations of a spill of coal ash in Eden, N.C. (AP Photo/Gerry Broome)

Toxins leaking from 2nd pipe at coal ash dump

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Duke Energy had downplayed concerns water in the pipe is contaminated.
Categories: Environment
Tankers in the Houston Ship Channel. (Billy Smith II/Houston Chronicle)

Port Bureau president lauds energy’s role in boosting Houston exports (video)

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William Diehl, president of the Greater Houston Port Bureau, spoke to Platts Energy Weekly on Sunday about the energy-fueled rise in exports and the construction boom along the channel.
Categories: Markets
Yellow oil barrels

U.S. cold, Chinese growth help lift oil above $102

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The price of oil stayed above $100 a barrel Tuesday on expectations cold weather in the U.S. and steady Chinese growth will underpin demand.
Categories: Crude oil, Markets