Category: Crude oil

U.S. drillers scrambling to thwart OPEC threat

Companies are leaning on new techniques and technology to get more oil out of every well they drill, and furiously cutting costs in an effort to keep U.S. oil competitive with much lower-cost oil flowing out of the Middle East, Russia and elsewhere.  More »

Houston companies partnering with Tennessee refiner to build pair of Texas pipelines

Delek Chairman and CEO Uzi Yemin said in a written statement that the pipelines would be the company’s first major U.S. development projects.  More »

Norway on bubble watch as anxiety over oil plunge recedes

Threats from Norway’s hot housing market have trumped anxiety that forced Governor Oeystein Olsen, 63, to deliver a surprise rate cut in December, when oil sank to about $63.  More »

Texas landmen left out of work as oil patch boom times go bust

Land managers, or landmen as they’re known, are part of a once dying oil patch profession resurrected when production soared.  More »

Commentary: Amid a crude oil crash, producers are hoarding cash to survive

With dozens of firms offering new opportunities to invest, understanding what signifies a healthy oil company is more important than ever as stock and bond prices are attractive now.  More »

Oil field services company cuts 200 of 250 employees in Arkansas

M&M Environmental Group CEO Sam McFadin told the Arkansas Democrat-Gazette that employees were told of the layoffs Friday and that remaining employees will be offered transfers to company offices in Oklahoma.  More »

House committee to vote on crude exports

The House Foreign Affairs Committee is scheduled to take up legislation that would overturn the nation’s longstanding ban against exporting crude.  More »

Crudes’ good day continues as rig count falls

Rigs chasing crude are now at their lowest level since 2011.  More »

Russian exports could be the next biggest threat to global crude oil prices

Russia may increase oil exports by as much as 250,000 barrels a day this year, according to the Oxford Institute for Energy Studies.  More »

Exxon finishes $1.3 million in work from 2011 Montana spill

The Texas oil giant paid for emergency training for local responders, fisheries improvement projects on the river and new leak detection equipment for the state.  More »

More Iran oil may flow within months of deal, officials say

Both sides are seeking a final deal by the end of June laying out steps that Iran would have to take to limit its ability to enrich uranium and produce plutonium in exchange for phasing out economic sanctions on energy and banking that have cut crude exports, choked cash flow and halted most oil investment.  More »

Crude inventories offer enough supply for a month of refining runs

The U.S. has enough oil to feed 29 days of refinery demand, the highest level in decades, according to a new government report.  More »

Siemens drops as oil price slump hurts profitability, sales

Siemens is in the midst of cutting 9,000 jobs to save 1 billion euros in costs by 2017.  More »

Dallas Fed: Texas job growth to slow, Houston to see the biggest impact

Declines in the oil and gas industry, tight labor markets and weakening exports led to the revision, the Federal Reserve Bank of Dallas wrote Tuesday.  More »

Drilling data shows U.S. oil production is slowing

Drillinginfo’s latest index shows 794,000 new barrels of oil equivalent per day were reaching the U.S. market in February.  More »