HOUSTON - Oilfield service company McDermott International, based in Houston but an employer of thousands in Louisiana, announced plans to begin a prepackaged Chapter 11 bankruptcy protection process. The company said the plan is supported by more than two-thirds of…
NEW ORLEANS (AP) — A Louisiana appeal court heard arguments Wednesday on a lawsuit challenging state laws that let oil pipeline operators take private land for construction. The 3rd Circuit Court of Appeal in Lake Charles could take weeks or…
NEW YORK (AP) - Stocks fell broadly on Wall Street in early trading Friday and oil prices surged after U.S. forces in Iraq killed a top Iranian general. Financial stocks fell the most as investors bought up U.S. government bonds,…
GARYVILLE, La. (AP) — A Louisiana parish has received $10 million from an oil company that is its largest taxpayer and expects to receive another $10 million next month as the company makes payments on a higher tax bill. Marathon…
BERLIN (AP) — A global shipping industry organization is proposing a research and development program to help cut carbon dioxide emissions, funded by about $5 billion from shipping companies over a decade. The International Chamber of Shipping said Wednesday that…
NEW ORLEANS – This city has always had a thing for boats. Walk down an old French Quarter street and you might step on old granite blocks that once served as ballast on ships coming from Europe. Many of our…
NEW ORLEANS (AP) — The federal agencies that make and enforce offshore oil and gas leases say they’ll encourage new wells in shallow Gulf of Mexico waters by allowing some reduced-royalty or even royalty-free production if owners can prove they…
NEW ORLEANS (AP) — Nearly $10 million in 2010 oil spill money is rebuilding a barrier island bird rookery off Louisiana. Work on Queen Bess Island had to wait for this year's nesting season to end in August and must finish by…
NEW YORK (AP) — Exxon Mobil's profits fell dramatically in the third quarter as the company was hurt by lower prices for crude oil and natural gas. The Texas oil giant reported $3.17 billion in profits in the third quarter…
LONDON (AP) — Energy prices rose Friday after a missile strike on an Iranian tanker revived concerns about instability in the oil-rich region, though analysts say the global market is now more resilient to disruption to supplies. The international benchmark…
LONDON (AP) — Oil company BP says 49-year-old Bernard Looney will take over as CEO as Bob Dudley, who oversaw the aftermath of the 2010 Gulf of Mexico oil spill, retires next year. BP said Friday that Dudley, 64, will…
NEW YORK (AP) — Employee activism and outside pressure have pushed big tech companies like Amazon, Microsoft and Google into promising to slash their carbon emissions. But there's another thing these tech giants aren't cutting: Their growing business ties to…
NEW YORK (AP) — The price of oil fell again Wednesday after the Saudi government said half of the production knocked out by an attack over the weekend had already had been restored. Benchmark U.S. crude fell about $1 to…
DUBAI, United Arab Emirates (AP) — Global energy prices spiked Monday by a percentage unseen since the 1991 Gulf War after a weekend attack on key oil facilities in Saudi Arabia caused the worst disruption to world supplies on record,…
____ WASHINGTON (AP) — The Trump administration on Friday allowed Chevron to continue operating in Venezuela at least until October despite U.S. sanctions aimed at ousting President Nicolás Maduro by choking off revenue from the world's largest crude reserves. The…
BANGKOK (AP) — The price of oil rose on Friday after the U.S. said it had destroyed an Iranian drone near the Persian Gulf, where a lot of the world's oil is shipped through. Stock markets were largely stable as…
NEW ORLEANS (AP) — The federal government will offer 77.8 million acres (31.5 million hectares) in the Gulf of Mexico for oil and gas exploration and development on Aug. 21. An Interior Department statement says the lease sale will include…
WASHINGTON (AP) — Chevron was nearly booted from Venezuela in 2007 during a nationalization drive led by the late socialist President Hugo Chavez. Twelve years later, it faces a similar threat from an unlikely corner: the White House. The Trump…
NEW ORLEANS (AP) — A new federally led study of oil seeping from a platform toppled off Louisiana's coast 14½ years ago found releases lower than other recent estimates, but contradicts the well owner's assertions about the amount and source…
VATICAN CITY (AP) — Some of the world's major oil producers committed Friday to supporting "economically meaningful" carbon pricing regimes after a Vatican climate summit and a personal appeal from Pope Francis to avoid "perpetrating a brutal act of injustice"…
SEOUL, South Korea (AP) — The blasts detonated far from the bustling megacities of Asia, but the attack this week on two tankers in the strategic Strait of Hormuz hits at the heart of the region's oil import-dependent economies.While the…
WASHINGTON (AP) — President Donald Trump will highlight his administration's efforts to ramp up liquefied natural gas exports as he visits a new plant Tuesday in southwest Louisiana. Trump will tour a $10 billion export terminal that will liquefy natural…
NEW DELHI (AP) — Iranian Foreign Minister Javad Zarif met with his Indian counterpart in New Delhi, days after India decided to follow U.S. restrictions on buying Iranian oil. India's foreign ministry said Zarif held discussions with Indian External Affairs…
SAN RAMON, Calif. (AP) — Chevron won't increase its buyout offer for Anadarko, cutting short a potential bidding war with Occidental Petroleum. Occidental challenged Chevron's initial bid last month, offering $57 billion in cash and stock, including debt and book…
HOUSTON (AP) — Anadarko says it plans to end its $33 billion takeover deal with Chevron in favor of a revised bid by Occidental. Occidental's offer is worth about $57 billion in cash and stock, including debt and book value…
PORT FOURCHON, La. (AP) — The Trump administration moved Thursday to give oil and gas companies more flexibility in meeting safety requirements imposed after the 2010 BP Deepwater Horizon explosion, which killed nearly a dozen people and was the worst…
HOUSTON (AP) — Anadarko is resurrecting buyout talks with Occidental, setting up a bidding war with Chevron which has offered $33 billion for the energy company. Anadarko Petroleum Corp. accepted Chevron's bid even though it had been in talks with…
HOUSTON (AP) — A bidding war is breaking out over Anadarko Petroleum, with Occidental making an offer worth $76 per share in cash and stock that it says is about a 20% premium to Chevron's $33 billion deal. Occidental Petroleum…
LONDON (AP) — Oil prices remained near six-month highs Tuesday in the wake of the Trump administration's announcement that it would soon impose sanctions on all buyers of Iranian oil. On Monday, the Trump administration said it would no longer…
SAN RAMON, Calif. (AP) — Chevron will buy Anadarko Petroleum for $33 billion in a cash-and-stock, energizing its deep water exploration in the gulf and in the energy-rich southwest region of Texas called the Permian Basin. The deal announced Friday…
