Fuel Fix

A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Cameron sells offshore jack-up rig business for $100 million

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Categories: Deals, featured, Offshore
Cameron International Corp. has agreed to sell off its offshore jackup rig business for $100 million to a Singapore rig contractor, the companies announced Monday.

Cameron sells offshore jack-up rig business for $100 million

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Categories: Deals, featured, Offshore
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)
Cameron International Corp. has agreed to sell off its offshore jackup rig business for $100 million to a Singapore rig contractor, the companies announced Monday.
(ALEXANDER KLEIN/AFP/Getty Images

Oil surges as OPEC signals it’s open to “fair and reasonable” prices

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U.S. crude prices shot up nearly $4 a barrel after OPEC said in a monthly publication it is ready to speak to other oil producers to achieve “fair and reasonable” prices.
Categories: Crude oil, featured, Markets

President Barack Obama waves from the top of the steps of Air Force One at Andrews Air Force Base in Maryland on Monday, Aug. 31, 2015, before departing to Alaska. Obama is traveling on a three-day trip to Alaska aimed at showing solidarity with a state often overlooked by Washington, while using its glorious but changing landscape as an urgent call to action on climate change. (AP Photo/Susan Walsh)

Obama on defense as he heads to Alaska

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Environmentalists say there is a clash between Shell’s exploratory oil drilling in the Chukchi Sea and Obama’s visit to survey shrinking glaciers and speak with coastal residents worried about rising seas.
(Lucas Schifres/Bloomberg)

Raymond James cuts natural gas price forecast

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Raymond James lowered its long-term natural gas price estimates Monday, putting the investment banking firm in a growing group of analysts seeing a bleaker future for the fuel.
Categories: Natural gas

(Jeff Pachoud/AFP/Getty Images)

Gasoline prices dip sharply with end of summer driving season

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Average retail gas prices in Houston came in at $2.25 a gallon Sunday, down 7.1 cents per gallon in the past week.
Categories: Crude oil, Gasoline, Refining
(AP Photo/Charles Rex Arbogast, File)

EIA revises US oil production estimates lower; June output sank

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The federal government believes daily U.S. crude production fell to 9.3 million barrels in June, down by 100,000 barrels in the prior month, as low oil prices continue to discourage drilling.
Categories: Crude oil, Production
Specialist Michael Pistillo, left, works with traders Gregory Rowe, center, and William McInerney on the floor of the New York Stock Exchange, Thursday, Aug. 27, 2015. U.S. stocks closed sharply higher after China's main stock index logged its biggest gain in eight weeks.  The Dow Jones industrial average climbed 369.26 points, or 2. 3 percent, to 16,654.77. (AP Photo/Richard Drew)

Oil market screaming lower to start the week

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Allrightee folks, this week is set to be a scream (R.I.P. Wes Craven) as we shimmy from August into September (hark, 114 shopping days until Xmas), and into a deluge of new economic data. Chinese equities overnight have wilted into the end of the month, racking up a 12.5% loss for August, while we’ve had […]
Categories: Crude oil, Gasoline
The Tamar Lease natural gas rig, located 90 kilometers west of the city of Haifa in northern Israel. Recent discoveries of massive offshore natural gas deposits, set to begin flowing in the coming days, are turning into a mixed blessing for Israel. (AP Photo/Albatross Aerial Perspective, File)

Italy’s Eni finds ‘supergiant’ natural gas field off Egypt

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Eni said the discovery — made in its Zohr prospect “in the deep waters of Egypt” — could hold a potential 30 trillion cubic feet of gas over an area of 100 square kilometers (38.6 square miles).
Categories: Middle East, Natural gas