Article 712
Halliburton adding 2,000 U.S. jobs as oilfield activity picks up

Halliburton on Friday said it’s adding 2,000 U.S. jobs in the first quarter and ramping up activity faster than anticipated to try to match the surging oilfield activity, especially in West Texas. In a rare operations update call, Halliburton Chairman and CEO Dave Lesar said the company is spe ...

Frank’s International founding family shrinks ownership control

The founding family that controls the Frank’s International oil-field services firm is reducing its ownership stake. The company, which operates out of Houston, was founded by Frank Mosing in 1938 in Louisiana and went public in 2013. But the Mosing family retained about 85 percent of the comp ...

Houston’s Kinder Morgan said Wednesday it plans to build a 430-mile natural gas pipeline from West Texas’ Permian Basin to the Corpus Christi region. The project is designed to capitalize off of increasing Permian oil and gas production to carry more gas to the Texas Gulf Coast, where it ...

Enbridge to cut 1,000 jobs in Houston, Canada after Spectra merger

Canadian pipeline giant Enbridge is cutting 1,000 jobs, largely in Houston and Calgary, after completing its $28 billion acquisition of Houston’s Spectra Energy this year. Enbridge CEO Al Monaco this month said Enbridge would leave its downtown Houston offices and consolidate in the former Spe ...

Exxon Mobil to decide soon on $10B Texas petrochemical plant

Exxon Mobil Corp. said it will decide as soon as May whether to move forward with a planned $10 billion petrochemical complex north of Corpus Christi now that it has the desired tax breaks approved. The Gregory-Portland School Board approved the requested tax abatement late Tuesday evening, just one ...

Crude oil stockpiles are back on the rise with another new record

The nation’s glut of stockpiled oil hit another modern record Wednesday with crude inventories rising by another 5 million barrels. Oil prices are continuing to fall as the world remains awash in oil with rising U.S. production offsetting much of the agreed-upon cutbacks from OPEC producers, p ...

School board clears way for $10 billion petrochemical plant

A $10 billion petrochemical complex north of Corpus Christi can move forward after a local school board faced down community opposition and unanimously approved millions of dollars in tax breaks sought by two of world’s biggest companies. The Gregory-Portland School Board, after more than four hours ...

Chemical execs optimistic sanity prevails on border taxes, protectionism

Petrochemical executives and analysts expressed optimism the Trump administration won’t launch any broad trade wars and will instead compromise on business-friendly tax breaks and laxer regulations instead. Speaking Tuesday at the World Petrochemical Conference by IHS Markit, Houston-based Lyo ...

Growth of EVs hits petrochemicals, not just oil

The potential growth of electric vehicles and driverless cars wouldn’t only hurt oil and gasoline demand,  it could also put a dent in the growing petrochemical sector. Vehicles’ bumpers, consoles, rubbers, paints and much more are all derived from petrochemicals, and the shift from stee ...

School board voting Tuesday on Exxon-Saudi petrochemical plant

A Texas school board north of Corpus Christi is set to vote Tuesday on tax breaks that could help decide whether a $10 billion petrochemical complex is built. Exxon Mobil Corp. and the state-owned Saudi Basic Industries Corp., or SABIC, are proposing the massive chemicals and plastics plant be locat ...

More