Beaumont – Fuelfix

Top energy bosses buck trend of falling executive pay

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The 10 highest-paid executives in Houston last year all work in the energy industry and, despite domestic oil’s long and lingering swoon that began last summer, seven of them made more money than they did in high-flying 2013.

Top energy bosses buck trend of falling executive pay

on
The 10 highest-paid executives in Houston last year all work in the energy industry and, despite domestic oil’s long and lingering swoon that began last summer, seven of them made more money than they did in high-flying 2013.
Return to drilling sends rig count up by 21

Return to drilling sends rig count up by 21

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U.S. drillers put more oil rigs to work this week than they have since last April, according to Friday’s Baker Hughes rig count.

Statoil profit beats estimates

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Statoil and competitors such as Royal Dutch Shell Plc and Total SA are cutting investments and operational costs after oil prices fell by about 50 percent over the last 12 months.

BP posts loss, increases layoff-related restructuring charges to $1.5B

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BP lost $6.3 billion in the second quarter amid the ongoing oil slump and as it took charges on its recent Deepwater Horizon oil spill settlement with the U.S. government and Gulf states.

Coal power is here to stay — for now

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While coal is expected to lose market share, federal projects show that coal-fired generation capacity is expected to remain largely unchanged through 2024.

Senate bill would give oil companies a decade more to drill in Arctic

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Oil companies could get 10 more years to drill on their Arctic leases, under a provision in a broader offshore drilling bill advancing in the Senate.

Halliburton, Baker cut workforces deeper, bringing layoffs to 27,000

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Halliburton has cut nearly 14,000 jobs and Baker Hughes has laid off 13,000 employees since they began trimming their headcounts last year to cope with the oil-market crash, officials said Monday.

Damaged Shell icebreaker arrives in Oregon for repairs

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Environmental activists in Portland are protesting the arrival of the Fennica, a vessel that Royal Dutch Shell plans to use in its Arctic offshore drilling project after it’s repaired.
First U.S. offshore wind farm raises hopes for industry revolution

First U.S. offshore wind farm raises hopes for industry revolution

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While there’s plenty of potential energy to harness, offshore wind has been mostly stymied by high costs. Onshore turbines are some of the cheapest sources of electricity, with an average cost of about $85 a megawatt-hour, according to data compiled by Bloomberg. Coal costs about $90.

Mexico’s failed first round of bidding an important lesson, energy panel says

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In testimony Thursday before the Western Hemisphere subcommittee of House Committee on Foreign affairs, a panel of four experts on Mexico’s energy reform unequivocally called Mexico’s first tender a disappointment.

Patterson-UTI posts second quarter loss on falling rig count

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North American land driller Patterson-UTI Energy said it lost $19 million in the second quarter as drilling for oil went rapidly out of style after the collapse of crude prices.

Cameron executives see downturn nearing bottom

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Houston-based Cameron, which provides equipment to offshore and onshore producers, said it saw fewer producer spending cutbacks in the second quarter.

Hercules CEO: Downturn among the worst in offshore services history

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Offshore services companies are muddling through one of the worst the downturns in the industry’s history with too many rigs chasing too little work, a trend that seems unlikely to reverse itself anytime soon, Hercules Offshore’s CEO and President John T. Rynd said in a call with investors Thursday.

Weatherford to boost job cuts to 11,000

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The oil field services firm, based in Switzerland with main offices in Houston, said the layoffs come as the North American market continues to weaken.

Oceaneering International profit falls 40 percent in second quarter

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Oceaneering International’s profit fell 40 percent in the second quarter as its fleet of more than 300 underwater robots found less work at offshore oil-industry projects compared to last year.

Bankrupt oil company wants payments back

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The city of Homer is filing a response to a request from an oil company seeking the return of thousands of dollars in previous payments to businesses.

FMC Technologies plans further layoffs

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FMC Technologies executives say its joint venture with another subsea oil-equipment maker has been welcomed by operators but it will have to continue to cut its workforce in coming quarters as activity stagnates.