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
conoco

ConocoPhillips starts up deep oil sands project in Canada

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ConocoPhillips says it’s bringing up its first barrels of oil in a large Canadian oil sands project that has been under construction for five years.
Categories: Canada, Crude oil

China woes hit pause for crude rally

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Suckerpinch, suckerpunch, for the first day of the month. We kick off September carrying the baggage that we picked up last month – that of economic fears ignited by China. Overnight PMI numbers from the world’s largest energy consumer (and second largest economy) has done little (well, nothing) to dissuade this notion. The official PMI […]
Categories: Crude oil

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, Texas
A boat of tourists moves on Dubai creek, with the city skyline in the background in Dubai, United Arab Emirates. (AP file photo/Kamran Jebreili)

Dubai property prices fall most in the world amid cheap oil

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The decline in Dubai was larger than real estate prices in Ukraine, which has been by a separatist insurgency.
Workers move a section of well casing into place at a Chesapeake Energy natural gas well site. (AP file photo/Ralph Wilson)

Canada’s Penn West to cut workforce 35 percent, slash spending

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The firm’s board of directors will also take a cut in compensation, as its board chair’s annual retainer will be cut in half and other directors will have retainers reduced by 40 percent.
Armed security stands near an oil pipe at the Bryan Mound facility of the Strategic Petroleum Reserve  in Freeport, Texas. (Photo: Brett Coomer/Houston Chronicle)

Guest commentary: Time to fix the Strategic Petroleum Reserve

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Two retired Air Force generals make a case for the importance of the country’s Strategic Petroleum Reserve.
U.S. Sen. Kelly Ayott (R-NH) listens during a news briefing after the weekly Senate Republican Policy Luncheon March 12, 2013 on Capitol Hill in Washington, DC. (Alex Wong/Getty Images)

Ad campaign launched to pressure senators on oil exports

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With Congress nearing a vote on oil exports, a group opposed to foreign crude sales is hitting the airwaves in five states.
Categories: Politics/Policy