Beaumont – Fuelfix

WTI crude oil seen supported near $75 a barrel

Prices have tumbled more 20 percent from their June peak, meeting a common definition of a bear market.  More »

Islamic State fuels terrorist operations with oil production

Oil production has provided the extremist Sunni group with a significant source of revenue, even though the Islamic State produces only a fraction of the oil capacity from the territory it controls and likely sells its oil at a deeply discounted price on the black market.  More »

Energy Department: U.S. must act now on methane emissions

The EPA and the Interior Department are considering a combination of regulations that would rein in methane, a power heat-trapping greenhouse gas.  More »
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Shell Midstream launches IPO

Shell Midstream launches IPO

Royal Dutch Shell’s midstream partnership launched its initial public offering in New York Monday, the company announced Monday.  More »

Oil rout goes unnoticed in Eagle Ford shale

U.S. benchmark West Texas Intermediate oil has dropped 24 percent from its June high, but oil workers in the Eagle Ford shale can’t help but feel optimistic.  More »

Hedge funds cut bullish bets on crude as prices tumble

Crude is now trading in a bear market, underpinned by speculation that OPEC members are favoring market share over prices.  More »

Halliburton execs point to U.S. shale as profits leap 70 percent

U.S. shale plays have become laboratories for experiments with more production stages, more sand and, in West Texas, a lot more horizontal rigs – a development Halliburton executives say has required an unprecedented level of oil-field service intensity.  More »

Oil rigs slump by most in two months after prices slide

Rigs targeting oil in the U.S. fell by the most in two months as producers curbed drilling following the biggest price rout since 2012.  More »

Chevron drillship arrives deep in the Gulf of Mexico

The Pacific Sharav, built to Chevron’s specifications, will work in the Keathley Canyon under a five-year contract with Pacific Drilling, a Houston-based ultra-deepwater drilling contractor.  More »

Investor says Swift Energy needs to cut debt

Swift Energy’s debt has ballooned to nearly $1.2 billion and has shareholders nervous.  More »

Natgasoline clears EPA hurdle for $1 billion methanol plant in Beaumont

The massive Beaumont project is expected to require thousands of construction workers and carry a more than $20 million annual payroll once it begins producing methanol at the end of 2016  More »

U.S. stocks rally on stimulus signs as energy shares jump

U.S. stocks rallied, trimming this week’s decline, as earnings beat estimates, consumer confidence reached a seven-year high and investors speculated that central banks will add more economic stimulus.  More »

Schlumberger CEO: Oil will recover, spur E&P spending

The slow but steady global economic recovery is still intact, and absolute oil demand has changed little despite fears of oversupply that have sent crude prices hurtling downward in recent days, Schlumberger’s chief executive told investors on Friday.  More »

WTI rebound above $80 holds as Goldman Sachs sees no oil glut

West Texas Intermediate is heading for its biggest one-day gain in a month.  More »

Schlumberger profit jumps 13.6 percent

Schlumberger profits jumped 13.6 percent in the third quarter as sales in North America and in its production segment picked up.  More »
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