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.

Rep. Doc Hastings, a Republican from Washington state, and the chairman of the House Natural Resources Committee, speaks at a news conference. (Andrew Harrer/Bloomberg)

Retirement sets off leadership shuffle on House resources panel

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Republican Doc Hastings on Thursday announced he would not seek reelection after two decades in the House of Representatives, sparking big questions about who might succeed him as chairman of the House Natural Resources Committee.
Categories: People, Politics/Policy
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Phillips 66 Partners strikes first acquisition deal for $700M

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An energy transportation company spun out of Phillips 66 reached a deal Thursday to buy 681 miles of pipeline and two propylene storage units for $700 million.

(Photo: Mathijs B/Flickr)

Cameron worker missing at site of burning well

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State environmental officials and expert firefighters brought in by Chevron monitored a burning Marcellus Shale natural gas well, where a worker employed by Houston-based Cameron International was missing.
Categories: Accidents
OriginOil CEO Riggs Eckelberry shows the before-and-after results of the Clean Frac process, which cleans the gooey byproduct of hydraulic fracturing into water to be reused. (Zain Shauk/Houston Chronicle)

Water recycler to open Houston office

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Water recycler OriginOil, which signed its first deal last year to bring its technology into the oil field, plans to open a Houston office to help spread its technology, the company said.
Apache Corp. headquarters, 2000 Post Oak Blvd

Apache earnings drop with production losses

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Houston-based exploration and production company Apache Corp.’s fourth quarter profits were down 73 percent as a result of asset sales that impacted production levels, the company report Thursday.
CPS Energy's coal plant Deely. (Lisa Krantz / SAN ANTONIO EXPRESS-NEWS)

Coal burns brighter as utilities switch from natural gas

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Natural gas prices at a four-year high have utilities shifting to coal to generate 4.519 million megawatt-hours a day, the most since 2011, government data show.
Categories: Coal, Electricity
NRG Energy has a carbon capture project at its W.A. Parish Power Plant in Fort Bend County. (For the Chronicle/Gary Fountain)

Carbon capture could raise wholesale energy price 80 percent

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Requiring the use of carbon capture and sequestration technologies at coal-fired power plants could increase the wholesale price of electricity between 70 percent and 80 percent, an Energy Department official said.
Categories: Coal, Environment