Shell makes $8.78 billion profit in first quarter

Oil rises as dollar falls

Posted on April 28, 2011 at 2:59 pm by Associated Press in Crude oil

Crude rose to nearly $114 a barrel in volatile trading, pushed higher by a weaker dollar, before giving up most of its early gains. More »

Texas City power fix could take weeks update

Posted on April 28, 2011 at 1:25 pm by Tom Fowler in Accidents, Chemicals, Electricity, Refining

There were no new power problems in Texas City in the past day, but the full restoration of power to refineries like BP’s could take another day. More »

Cameron’s first-quarter profit falls, cuts 2011 outlook

Posted on April 28, 2011 at 12:40 pm by Associated Press in Gulf oil spill

The company said net income fell to $109.5 million, or 43 cents per share, for the three months ended March 31 compared with $120.4 million, or 48 cents per share, a year earlier. The results included charges of 3 cents per share, mostly related to legal costs from the Gulf oil spill. More »

Gulf oil spill will loom large over Offshore Technology Conference

Posted on April 28, 2011 at 11:12 am by Tom Fowler in Gulf oil spill, Social

The Macondo blowout prompted the energy industry to make changes to existing products or create new ones to incorporate lessons learned from the accident. Many of the new developments will be on display Offshore Technology Conference in Houston next week. More »

Apache posts 56 percent jump in quarterly profit

Posted on April 28, 2011 at 10:46 am by Brett Clanton in General

The Houston independent oil and gas firm attributed the performance to higher oil prices and a 25 percent surge in production after a spree of acquisitions in 2010. More »

Dems seize on royal wedding to skewer GOP, tap anger over gas prices

Posted on April 28, 2011 at 10:38 am by Jennifer A. Dlouhy in Politics/Policy, Social

Prince William and Kate Middleton are slated to say their “I dos” tomorrow in England. Capitalizing on the hoopla, Democrats who want to to score political points by tapping into frustration about rising gas prices invited people to “the sacred and lasting union between the Republican Party and Big Oil.” More »

How should electric rates be set now?

Posted on April 28, 2011 at 9:55 am by Loren Steffy in Electricity

That’s the question that lurks behind a bill currently winding its way through the Legislature, Loren Steffy writes. If the bill becomes law, companies like CenterPoint could adjust their rates with just a cursory review by the Public Utility Commission as many as four times before they had to submit to a full-scale rate review. More »

ExxonMobil profits soar 69 percent in first quarter

Posted on April 28, 2011 at 9:12 am by Brett Clanton in General

The quarterly earnings were the company’s best since it reported $14.8 billion in profits in the third quarter of 2008, when oil prices spiked to a record $147 a barrel. More »

Houston pump prices continue climb toward $4

Posted on April 28, 2011 at 7:31 am by Laura Weisman in General

Gasoline prices continue their climb toward $4 in Houston this week, as prices are up another 4 cents. More »

Exelon to buy Constellation in $7.9 billion deal

Posted on April 28, 2011 at 7:10 am by Associated Press in Electricity

Exelon CEO John Rowe has tried and failed three times since 2003 to acquire a smaller rival. Maybe the fourth time will be a charm. More »

Oxy’s first-quarter earnings grow 46 percent

Posted on April 28, 2011 at 7:02 am by Associated Press in General

The Los Angeles oil and natural gas producer reported net income of $1.55 billion, or $1.90 per share, compared with $1.06 billion, or $1.31 per share, for the same quarter in 2010. More »