Fuel Fix

Ryan Lance, ConocoPhillips CEO, speaks during the opening panel discussion of the 2015 IHS Energy CERAWEEK. (Brett Coomer/Houston Chronicle)

ConocoPhillips to cut 10 percent of global workforce

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ConocoPhillips said Tuesday it is planning to cut roughly 1,800 employees, or 10 percent of its global workforce, in the next several weeks as it deals with low oil prices.

ConocoPhillips to cut 10 percent of global workforce

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Ryan Lance, ConocoPhillips CEO, speaks during the opening panel discussion of the 2015 IHS Energy CERAWEEK. (Brett Coomer/Houston Chronicle)
ConocoPhillips said Tuesday it is planning to cut roughly 1,800 employees, or 10 percent of its global workforce, in the next several weeks as it deals with low oil prices.
permian basin

W&T Offshore to sell Permian assets for $376 million

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W&T Offshore has agreed to sell its stake in a West Texas oil field to a private equity start-up company for $376 million, the latest oil deal geared toward supporting a seller’s financial books amid cheap oil prices.
Categories: Crude oil, Deals, featured, Texas
Firefighters and rescue workers work along the tracks where several CSX tanker cars carrying crude oil derailed and caught fire along the James river near downtown in Lynchburg, Va., Wednesday, April 30, 2014. Nearby buildings were evacuated for a time, but officials said there were no injuries and the city on its website and Twitter said firefighters on the scene made the decision to let the fire burn out. (AP Photo/Steve Helber)

Feds doling out millions to boost rail safety along heavy oil routes

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Transportation Secretary Anthony Foxx said the grants would “support innovative ideas and solutions developed at the local level.”
Categories: Rail
(Bureau of Safety and Environmental Enforcement)

European regulators approve Shell-BG Group deal

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Royal Dutch Shell on Wednesday got closer to completing its nearly $70 billion acquisition of BG Group after the European Commission cleared the purchase in an antitrust review.
Categories: Deals

Commentary: Focus for oil is on inventory, jobs data

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Once again, the API has put the cat among the pigeons ahead of the weekly EIA inventory report. Prices had already spent yesterday getting stomped on all day, before the API released its report, revealing a surprise 7.6 million barrel build versus the expectation for a minor 0.8 mb draw. This was the largest build […]
(ALEXANDER KLEIN/AFP/Getty Images

OPEC split on need for long-term oil-price forecasts

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The disagreement reflects internal divisions over whether OPEC policy should focus on prices or the stability of the oil market.
Categories: Crude oil, Middle East
(Daniel Acker/Bloomberg)

Engineering firm director: Industry is “living in the past”

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A Petrochemical Update report with the American Petroleum Institute noted more than 70 percent of U.S. capital projects since 2002 have failed to meet all of their performance goals.
A rig works in the Barnett Shale. (Enervest)

Texas RRC examiners: XTO well not clearly linked to quakes

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Though the recommendation awaits approval by the commissioners, it sets guidance on one of the most contentious issues to emerge from the oil and gas boom.
An oil tanker navigates the Houston Ship Channel in Houston, Texas. (Carter Smith/ Bloomberg News file photo)

Government report: Gasoline prices won’t climb if U.S. exports its oil

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The EIA analysis also throws some cold water on the entire pro-export crusade, suggesting that widely selling U.S. crude abroad would do little to boost either domestic oil prices or production.
Categories: General, Politics/Policy