Fuel Fix

A dynamic positioning and marine environment simulator used for simulation and training on exhibit in the Jelec booth at the Offshore Technology Conference at the NRG Center Tuesday, May 5, 2015, in Houston, Texas. (Gary Coronado / Houston Chronicle)

Major offshore vessel contractor could be in the market for acquisitions, CEO says

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The CEO of vessel contractor Tidewater says the oil bust could be an opening to scoop up smaller rivals in marine services as corporate consolidations could help offshore firms cope with the downturn.

Major offshore vessel contractor could be in the market for acquisitions, CEO says

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A dynamic positioning and marine environment simulator used for simulation and training on exhibit in the Jelec booth at the Offshore Technology Conference at the NRG Center Tuesday, May 5, 2015, in Houston, Texas. (Gary Coronado / Houston Chronicle)
The CEO of vessel contractor Tidewater says the oil bust could be an opening to scoop up smaller rivals in marine services as corporate consolidations could help offshore firms cope with the downturn.
(ALEXANDER KLEIN/AFP/Getty Images

OPEC seen backing Saudi Arabia’s plan to keep supplies elevated

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Crude plunged for eight of nine weeks prior to the group’s November gathering, when the kingdom faced down opposition from the majority of fellow members, who advocated output reductions to tackle a global glut.

As U.S. crude production nears records, the oil industry is pushing for relaxed rules on oil exports.  (AP Photo/Orlin Wagner)

Large oil companies pulling up stakes in Kansas

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The economic future seemed so tantalizing just two years ago as the nation’s big oil firms rushed into Kansas. Now most of those big out-of-state players are gone.
Categories: Exploration
One of Dow's many Freeport, Texas chemical plants. (Houston Chronicle/Smiley Pool)

Dow Chemical looking to spin off, sell 40 plants

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Dow Chemical is looking to spin off or sell about 40 manufacturing plants from its business as it continues to move away from cyclical commodity products.
Categories: Chemicals, Deals

Cobalt International Energy used the Petroserv SSV Catarina Rig to drill the Lontra #1 discovery well off the coast of Angola.  (Cobalt International Energy)

Cobalt announces major discovery in offshore Angola

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Cobalt International Energy has found more oil and gas trapped under salt formations in an exploratory well off the coast of Angola, a “major discovery” that could hold reserves of 700 million to 1.1 billion barrels of oil equivalent, the company said Monday.
Categories: Africa, Crude oil
Former BP engineer Kurt Mix leaves the federal courthouse after a hearing in Houston in 2012. (AP Photo/Pat Sullivan, File)

Jury selection continues Tuesday in case against ex-BP engineer

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Jury selection began Monday for the Justice Department’s case against a former BP drilling engineer charged with deleting text messages and voicemails about the company’s response to its massive 2010 oil spill in the Gulf of Mexico.
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BP wins order stopping some spill payments

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“The district court erred by not considering the arguments on causation,” an appellate panel said.
Categories: Gulf oil spill
(AP Photo/Lynne Sladky)

Chevron resumes search for shale gas in Romania

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Thousands of people have rallied across Romania in recent months to protest against government support for shale gas exploration.
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Valero unit launches IPO

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Valero Energy Partners LP expects the IPO price for the master limited partnership will be between $19 and $21 per common unit, which would raise between $285 million and $315 million, according to documents filed Monday with the Securities and Exchange Commission.