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U.S.-Cuba deal shows Venezuelan oil giveaways running out

Venezuela sent about 100,000 barrels a day to Cuba last year in exchange for medical personnel as part of a regional subsidy program to promote the government’s socialist message.  More »

Rig count falls for second week

The number of rigs searching and drilling for oil and gas across the U.S. fell by 18 this week to 1,875, according to data from oil service company Baker Hughes.  More »

Shale debt crunch could intensify in April

U.S. oil companies could see the amount of money they can borrow shrink significantly next April when banks reassess credit conditions amid falling oil prices.  More »

Texas lawmaker seeks to protect urban drilling

State Rep. Phil King filed a pair of bills this week, cities seeking to ban fracking would need to gain approval from the state attorney general, pay the state to study the financial impact and reimburse the state for any lost tax revenue.  More »

LyondellBasell names new CEO

Chemical company LyondellBasell Industries tapped Bhavesh V. “Bob” Patel, an executive vice president with the company, to serve as its new executive officer, the company announced Thursday morning.  More »

Marathon Oil will cut more than $1B from 2015 budget

Marathon Oil Corp. will spend about 20 percent less looking for and producing oil next year, the company said on Thursday.  More »

Holiday gift guide for the roughneck or petroleum engineer in your life

I’ve got you covered with the list of things anyone would be proud to show off both in the field (well, some of them anyways) or the office.  More »

Enterprise abandons Bakken pipeline

The proposed line would have run 1,200 miles from the prolific oilfields of North Dakota to the oil transportation hub in Cushing, Oklahoma.  More »

Big oil could chop $930B in projects as prices fall

Global oil markets could lose as much as 7.5 million barrels of crude over the next decade if sunken oil prices stall the slate of new oil and gas projects around the world, a new report says.  More »

Lower price at the pump doesn’t mean much more driving, report says

But the relationship between prices and number of drivers used to be closer.  More »

OPEC chief urges oil investment despite low prices

The secretary-general of OPEC on Sunday urged Gulf Arab nations to keep investing in oilfield development despite the plunge in crude prices and gave no indication the cartel was prepared to shift its strategy to halt the slide.  More »

Enbridge lays off some Houston-area workers

The Houston-based pipeline company last week cut positions in its under-performing domestic gas pipelines and processing business unit, including jobs in the office and field locations.  More »

Magellan condensate splitter in Corpus Christi gets clearance

A $250 million condensate splitter proposed for Corpus Christi got clearance from federal regulators on Friday, bringing it one step closer to construction.  More »

A Martian Looks at Climate Negotiations

An interesting mind game involves thinking about what a Martian would think if he/she came down and observed the activities in Lima at this year’s COP.  It doesn’t take much a stretch of the imagination to conclude that upon returning to Mars, he/she would report that there doesn’t appear to be intelligent life on earth. […]  More »

Cheaper crude doesn’t mean cheaper products yet

Raw materials and fuel have gotten less expensive as oil prices plunge to their lowest levels in five years, but manufacturers may be reticent to pass on those savings to consumers until the volatile oil and gasoline markets begin to settle.  More »
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