Category: featured

Texas manufacturing slips again as oil and gas orders disappear

The production index, a key measure of the manufacturing conditions, remained in negative territory for the second month in a row, with 3 out of 10 executives reporting seeing production fall between March and April, according to responses to the Federal Reserve Bank of Dallas’s monthly survey.  More »

Gasoline prices jump 11 cents as crude rises

Rebounding crude prices have caused gasoline prices to tick up again, but fuel still remains at its cheapest seasonal level in six years.  More »

U.S. producers idle 31 more oil rigs

The number of U.S. oil rigs fell once again this week, Baker Hughes said Friday, as producers kept cutting drilling in the face of low crude prices.  More »

Quotable CERAWeek: Memorable lines from energy industry leaders

The new reality of oil, was the biggest topic, and the executives who took the stage focused on detailing how their companies would survive.  More »

CERAWeek: Cheap fuel, solid economy will give Texas a break from rising rates

Texas’ rate hikes will be eased thanks to economic growth that has boosted power demand in the state and along the Gulf Coast.  More »

Weatherford increases job cuts to 10,000

The world’s No. 4 oil field services firm, based in Switzerland but with main offices in Houston, posted a net loss of $118 million in the first quarter, or a loss of 15 cents a share, compared with a loss of $41 million, or 5 cents a share, in the same period last year.  More »

Richard Kinder at CERAWeek: Industry hides from public “like we’re selling cigarettes”

Kinder said in an interview that oil and gas leaders hadn’t done enough to show how important the industry is  More »

CERAWeek Q&A: Siemens CEO will focus on integrating acquisitions amid downturn

Siemens AG CEO Joe Kaeser talked with FuelFix ahead of his CERAWeek presentation Wednesday about his continued faith in the oil and gas business and global crude demand.  More »

CERAWeek: Oil chiefs explain why U.S. shale boom hasn’t gone global

Has billionaire oil man Harold Hamm ever been tempted to take the U.S. shale revolution abroad and expand his oil empire from North Dakota to the rest of the world? “I have not,” Hamm told a gathering of energy executives Tuesday.  More »

Nabors has laid off thousands in 2015, including more than 40 percent of its drilling unit employees

The firm booked a $123.6 million profit in the first quarter, or 43 cents a share, up from $50 million, or 17 cents a share, in the same period the year before.  More »

Study links swarm of quakes in Texas to natural gas drilling

In 84 days from November 2013 to January 2014, the area around Azle, Texas, shook with 27 magnitude 2 or greater earthquakes, while scientists at Southern Methodist University and the U.S. Geological Survey monitored the shaking.  More »

Rex Tillerson at CERAWeek: Oil industry will survive, but government should step aside

Government regulators need to get out of the way and give oil companies the freedom to innovate to enable “safer, more secure and more efficient production”, Rex Tillerson said at CERA Week.  More »

Baker Hughes increases layoffs to 10,500

Oil field service company Baker Hughes says it has decided to increase its job cuts to 10,500 workers, about 17 percent of its workforce, as it works through a slump in North American drilling.  More »

World’s biggest oil trader says crude price can’t drop much more

Oil prices will range from $50 a barrel to $70 a barrel in the second half of this year, Ian Taylor, the firm’s chief executive officer, said in an interview.  More »

Ryan Lance at CERAWeek: Production cuts now could lead to big price swings later

Oil prices may rebound, but volatility is here to stay, ConocoPhillips CEO Ryan Lance predicted Monday.  More »
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