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carbon capture, viewed as critical to fossil fuel future, at a crossroads

washington – scientists have tried for years to figure out an economic way to separate carbon dioxide from fossil fuel emissions before releasing them into the atmosphere, a goal viewed by many as critical to the future of the coal, oil and natural gas industries as the international fight against climate change intensifies.but that mission has reached a crossroads as congress decides whether to increase funding for the federal tax credit that supports the development of the technology,known as carbon capture. and leading the charge for more government support is an unlikely coalition of climate change hawks and oil and coal state lawmakers in congress."they might support it for different reasons," said brad crabtree, vice president at the not-for-profit great plains institute, which a...





will energy tax credits get saved in congress's budget deal?

photo: j. scott applewhite, stf image 1of/1captioncloseimage 1 of 1house ways and means committee chairman kevin brady helped lead the effort to rewrite tax code.house ways and means committee chairman kevin brady helped lead the effort to rewrite tax code. photo: j. scott applewhite, stf will energy tax credits get saved in congress's budget deal?1 / 1back to gallerywashington - tax credits for the energy sector are among a suite of legislation under debate as democrats and republicans in congress try to work out a budget deal.from carbon capture and electric vehicles to advanced nuclear power and geothermal energy, a host of developing energy technologies are looking for congress to extend and expand their tax credits. and now those credits are under discussion for inclu...





oil tumbles as production, inventories grows

photo: matthew staver image 1of/1captioncloseimage 1 of 1this oil drilling rig is near watford city, n.d. bakken output is set to exceed the december 2014 record of 1.23 million barrels a day in the first half of 2018, a state official says. this oil drilling rig is near watford city, n.d. bakken output is set to exceed the december 2014 record of 1.23 million barrels a day in the first half of 2018, a state official says.  photo: matthew staver oil tumbles as production, inventories grows1 / 1back to galleryoil posted the biggest loss in two months as record crude production from u.s. fields reignited worries that supplies will swamp demand.futures slid 2.5 percent in new york. crude output from american wells jumped to 10.25 million barrels a day last week, vaulting the u...





anadarko posts $1 billion profit from tax law, cuts spending

photo: ed andrieski, stf image 1of/1captioncloseimage 1 of 1a walking rig drills in colorado. anadarko plans more wells there.a walking rig drills in colorado. anadarko plans more wells there. photo: ed andrieski, stf anadarko posts $1 billion profit from tax law, cuts spending1 / 1back to gallerythe woodlands' anadarko petroleum reported a nearly $1 billion quarterly profit from benefits gained from the new u.s. tax law, covering up what would've been a small financial loss otherwise.anadarko also said it is slightly cutting its 2018 capital spending down to a range of $4.1 billion to $4.5 billion, from the $4.2 billion to $4.6 billion range announced in november. that's because of the recent sale of some of its alaska assets to conocophillips and from some anticipated downti...





petrobras to sell pasadena refinery

photo: yasuyoshi chiba, contributor image 1of/1captioncloseimage 1 of 1petrobras is putting its pasadena refinery on the market following a widespread corruption scandal that involved that facility.petrobras is putting its pasadena refinery on the market following a widespread corruption scandal that involved that facility. photo: yasuyoshi chiba, contributor petrobras to sell pasadena refinery1 / 1back to gallerypetrobras, brazil's state-controlled oil company, is attempting to sell its pasadena refinery, which came under scrutiny during a sweeping investigation of fraud and corruption.the company announced it will soon field non-binding offers from companies interested in purchasing the facility, capable of processing 110,000 barrels of oil per day.related: brazilian scandal c...





anadarko raises dividend by five times to near pre-oil bust amount

photo: melissa phillip, staff image 1of/1captioncloseimage 1 of 1r.a. walker, chairman, president andceo of anadarko, speaks during ceraweek by ihs markit wednesday, march 8, 2017, in houston. ( melissa phillip / houston chronicle )r.a. walker, chairman, president andceo of anadarko, speaks during ceraweek by ihs markit wednesday, march 8, 2017, in houston. ( melissa phillip / houston chronicle ) photo: melissa phillip, staff anadarko raises dividend by five times to near pre-oil bust amount1 / 1back to galleryanadarko petroleum said wednesday it will raise its quarterly dividend payouts to investors by five times from 5 cents a share to 25 cents.the move coincides with rising oil prices well above $60 a barrel after a more than two year oil bust that started in late 2014. in ear...





nrg selling renewables business with shift back to fossil fuels

photo: apolinar fonseca, mbr file - in this tuesday, aug. 3, 2011 file photo, a worker looks over solar panels at the nrg solar and eurus energy america corp.â’s 45-megawatt solar farm in avenal, calif. energy companies are wrapping renewable energy projects and other power-related assets that generate steady cash into new companies they hope attract investors hunting for dividends. (ap photo/the sentinel, apolinar fonseca, file) file - in this tuesday, aug. 3, 2011 file photo, a worker looks...after previously preaching a future of greener energy, nrg energy is selling its renewable energy business for nearly $1.4 billion to new york investment fund global infrastructure partners.as part of an overall slimming down, nrg also will sell its four louisiana gas and coal po...





crude, gasoline inventories rise, as does demand

updated 10:03 am, wednesday, february 7, 2018 photo: mark lennihan, stf image 1of/1captioncloseimage 1 of 1(ap photo/mark lennihan)(ap photo/mark lennihan) photo: mark lennihan, stf crude, gasoline inventories rise, as does demand1 / 1back to gallerycrude and gasoline stockpiles rose last week, adding to worries about rising u.s. oil production and pressuring crude prices.the energy department said wednesday that crude inventories rose for the second consecutive week, adding nearly 2 million barrels. gasoline inventories climbed by 3.4 million barrels.inventories of all petroleum products, which include diesel, heating oil and jet fuel, rose by 4.4 million barrels.the energy department recently said it expected that u.s. oil production to reached a record 10.2 million b...





anadarko posts $1 billion profit from tax law, cuts spending

photo: ed andrieski, stf image 1of/1captioncloseimage 1 of 1a walking rig drills in colorado. anadarko plans more wells there.a walking rig drills in colorado. anadarko plans more wells there. photo: ed andrieski, stf anadarko posts $1 billion profit from tax law, cuts spending1 / 1back to gallerythe woodlands' anadarko petroleum reported a nearly $1 billion quarterly profit from benefits gained from the new u.s. tax law, covering up what would've been a small financial loss otherwise.anadarko also said it is slightly cutting its 2018 capital spending down to a range of $4.1 billion to $4.5 billion, from the $4.2 billion to $4.6 billion range announced in november. that's because of the recent sale of some of its alaska assets to royal dutch shell and from some anticipated dow...





seattle activist sentenced in 4-state oil pipeline protest

bismarck, n.d. - an environmental activist from seattle was sentenced tuesday to serve one year in prison for targeting an oil pipeline.michael foster, 53, cut through a chain link fence and turned a shut-off valve on the keystone pipeline in northeastern north dakota on oct. 11, 2016.a jury last october convicted foster of conspiracy, criminal mischief and trespass.he'll be on probation for two years following his time behind bars.foster could have been sentenced to as many as 21 years.





bp reaps fivefold rise in quarterly earnings

photo: jason alden image 1of/3captioncloseimage 1 of 3bob dudley, chief executive officer of bp plc, pauses during a bloomberg television interview on the opening day of the world economic forum (wef) in davos, switzerland, on tuesday, jan. 23, 2018. world leaders, influential executives, bankers and policy makers attend the 48th annual meeting of the world economic forum in davos from jan. 23 - 26. photographer: jason alden/bloomberg lessbob dudley, chief executive officer of bp plc, pauses during a bloomberg television interview on the opening day of the world economic forum (wef) in davos, switzerland, on tuesday, jan. 23, 2018. world ... more photo: jason alden image 2 of 3bob dudley, chief executive officer of bp plc, speaks during a bloomberg television interview on the openi...





infrastructure networks to move hq to galleria office tower

photo: cody duty, houston chronicle image 1of/1captioncloseimage 1 of 1galleria tower ii located on 5051 westheimer st., is seen wednesday, april 27, 2011, in houston.galleria tower ii located on 5051 westheimer st., is seen wednesday, april 27, 2011, in houston. photo: cody duty, houston chronicle infrastructure networks to move hq to galleria office tower1 / 1back to galleryinfrastructure networks, a provider of wireless networks to the energy and other industries, has relocated its headquarters to the 17th floor of galleria tower ii.the company has leased a full floor of space, totaling 15,879 square feet, at 5051 westheimer, real estate brokerage firm nai partners said. inet relocated from the katy area.the move comes as houston-based inet doubled its employee count to 50 o...





anadarko posts $1 billion profit from tax law, cuts spending

photo: ed andrieski, stf image 1of/1captioncloseimage 1 of 1a walking rig drills in colorado. anadarko plans more wells there.a walking rig drills in colorado. anadarko plans more wells there. photo: ed andrieski, stf anadarko posts $1 billion profit from tax law, cuts spending1 / 1back to gallerythe woodlands' anadarko petroleum reported a nearly $1 billion quarterly profit from benefits gained from the new u.s. tax law, covering up what would've been a small financial loss otherwise.anadarko also said it is slightly cutting its 2018 capital spending down to a range of $4.1 billion to $4.5 billion, from the $4.2 billion to $4.6 billion range announced in november. that's because of the recent sale of some of its alaska assets to royal dutch shell and from some anticipated dow...





double eagle gets $1 billion boost from private equity

photo: keith srakocic, stf in this june 25, 2012 file photo, a crew works on a gas drilling rig at a well site for shale based natural gas in zelienople, pa. the obama administration is requiring companies that drill for oil and natural gas on federal lands to disclose chemicals used in hydraulic fracturing operations. a final rule released friday also updates requirements for well construction and disposal of water and other fluids used in fracking, a drilling method that has prompted an ongoing boom in natural gas production. (ap photo/keith srakocic, file) in this june 25, 2012 file photo, a crew works on a gas drilling...double eagle energy holdings iii has raised $1 billion to fund acquisition and development plans in the permian basin in west texas, an infusion of c...





infrastructure networks to move hq to galleria office tower

photo: cody duty, houston chronicle image 1of/1captioncloseimage 1 of 1galleria tower ii located on 5051 westheimer st., is seen wednesday, april 27, 2011, in houston.galleria tower ii located on 5051 westheimer st., is seen wednesday, april 27, 2011, in houston. photo: cody duty, houston chronicle infrastructure networks to move hq to galleria office tower1 / 1back to galleryinfrastructure networks, a provider of wireless networks to the energy and other industries, plans to relocate its headquarters to galleria tower ii.the company has leased a full floor of space, totaling 15,879 square feet, at 5051 westheimer, real estate brokerage firm nai partners said. inet will relocate from the katy area.the move comes as houston-based inet doubled its employee count to 50 over the la...





u.s. oil production estimated at record 10.2 million barrels daily

photo: matthew staver image 1of/1captioncloseimage 1 of 1this oil drilling rig is near watford city, n.d. bakken output is set to exceed the december 2014 record of 1.23 million barrels a day in the first half of 2018, a state official says. this oil drilling rig is near watford city, n.d. bakken output is set to exceed the december 2014 record of 1.23 million barrels a day in the first half of 2018, a state official says.  photo: matthew staver u.s. oil production estimated at record 10.2 million barrels daily1 / 1back to galleryu.s. oil production in january likely averaged a new record of 10.2 million barrels a day, the energy department estimated tuesday.the country is churning out both crude oil and natural gas at record levels currently, and production levels are proj...





exxon mobil begins commissioning baytown ethane cracker

photo: carlos antonio rios, staff image 1of/1captioncloseimage 1 of 1exxon mobil corp is expanding the ethylene and polyethylene capacities of its exxonmobil chemical co. complex in baytown.exxon mobil corp is expanding the ethylene and polyethylene capacities of its exxonmobil chemical co. complex in baytown. photo: carlos antonio rios, staff exxon mobil begins commissioning baytown ethane cracker1 / 1back to galleryexxon mobil chemical co. is commissioning its new ethane cracker in baytown as part of a multi-billion expansion that will dramatically boost its plastics production.the massive cracker, capable of producing 1.5 million tons of ethylene per year, is expected to come online during the second quarter of the year. it will supply the company's production of polyethylene...





national oilwell varco posts small loss

image 1of/1captioncloseimage 1 of 1national oilwell varco posts small loss1 / 1back to galleryhouston-based national oilwell varco posted a small net loss for the fourth quarter as the drilling rig and equipment manufacturer emerges from the prolonged oil bust.the $14 million quarterly loss compares favorably to a much lager $714 million loss during the final three months of 2016 and even to the $26 million loss for the third quarter of 2017.nov's $715 million in quarterly revenues jumped 35 percent from the year prior and grew slightly from $693 million in the third quarter.energy analysts called the earnings a slight positive as national oilwell varco works to get back on track after the prolonged crash in oil prices. the company has shifted to service the onshore energy sector, which...





bp profit rises with production

photo: simon dawson, bloomberg image 1of/1captioncloseimage 1 of 1bob dudley, ceo of bpbob dudley, ceo of bp photo: simon dawson, bloomberg bp profit rises with production1 / 1back to gallerybp plc dodged the disappointment that afflicted other oil-company earnings as it did a better job of exploiting the upswing in crude prices.oil and gas output rose following the startup of seven new projects last year, helping the london-based giant post a fivefold increase in fourth-quarter profit from a year earlier to the highest since the start of 2015. while cash flow from operations fell slightly, bp avoided any major miss compared with expectations."the company is operating and firing on all cylinders," chief executive officer bob dudley said in an interview with bloomberg television...





oil declines to 2-week low as stocks slide

photo: karen bleier, staff image 1of/1captioncloseimage 1 of 1 an oil well near tioga, north dakota. ( afp photo / karen bleier / fileskaren bleier/afp/getty images) an oil well near tioga, north dakota. ( afp photo / karen bleier / fileskaren bleier/afp/getty images) photo: karen bleier, staff oil declines to 2-week low as stocks slide1 / 1back to galleryoil slid to a two-week low and headed for its longest losing streak in two months as a plunge in global equities dragged other markets lower.crude futures in new york fell a third day, sliding as much as 1.6 percent. stock indexes from japan to germany tumbled on tuesday after a frantic sell-off in u.s. shares sent the dow jones industrial average to its biggest loss in 6 1/2 years. nonetheless, oil market conditions look "so...