Exxon Mobil partners for new carbon capture pilot project
After Exxon and Connecticut-based FuelCell announced a partnership in May, they have now chosen Southern Company’s Barry power plant near Mobile, Alabama for its first pilot project. The 2.7 gigawatt plant generates power from both...
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ConocoPhillips loses $1 billion in third quarter
ConocoPhillips, the nation’s largest independent oil producer, is still losing money, but less than it did last year. Conoco, based in Houston, reported on Thursday a third-quarter net loss of $1 billion, or 84 cents...
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Enterprise Products profits dip just 2 percent from 2015
Enterprise Products Partners reported a $635 million quarterly profit that fell by only 2 percent during the same time last year. The Houston pipeline and exporting giant said its $5.92 billion in quarterly revenues fell...
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Hobbled by bankruptcy, Key Energy promises to pay employees and vendors
Key Energy Services has promised to pay employees, vendors and some creditors in full as it works through bankruptcy. The Houston-based oilfield services company filed for chapter 11 protection on Monday. Late Tuesday, the company...
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Crude oil inventory levels unexpectedly fall
The nation’s stockpiles of crude oil and gasoline both dipped slightly in the past week, surprising many estimates that projected an oil inventories build. Crude stockpiles dipped by 600,000 barrels from last week, while motor...
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