Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

Oil majors delay $200 billion of spending, Wood Mackenzie says

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Brent crude prices have dropped by half in a year after the Organization of Petroleum Exporting Countries decided to maintain output to defend market share amid a global supply glut.
This  April 17, 2015 file photo, with the Olympic Mountains in the background, a small boat crosses in front of an oil drilling rig as it arrives in Port Angeles, Wash., aboard a transport ship after traveling across the Pacific.  (Daniella Beccaria/seattlepi.com via AP, File)

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.
A wind farm under construction off the southeast side of Block Island R.I., July 21, 2015. A few miles off the coast, a small flotilla has been gathering: crane vessels, tugboats and barges that began this week installing the 840-ton foundations of the nation’s first commercial-scale offshore wind farm. (Gregg Vigliotti/The New York Times)

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.
NuStar Energy LP has invested millions of dollars to transform the only refinery in San Antonio’s city limits, which was once owned by AGE Refining. Photo: Photo By Robin Jerstad/Special T / SA

NuStar Energy’s net income declines

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Pipeline partnership NuStar Energy LP on Friday reported second-quarter 2015 net income applicable to limited partners of $42.4 million, or 54 cents a unit, compared with $43.6 million, or 56 cents a unit, for the same period a year ago.
An oil tanker, right, cruises past a new liquefied natural gas tanker at the Cheniere terminal in Cameron Parish, La. (Michael Stravato/The New York Times)

Flotilla of European gasoline tankers fuels U.S. driving binge

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Surging demand and rising prices for gasoline in the U.S. are luring about double the number of tankers compared with 2014, boosting shipping rates to the highest seasonal levels in seven years.
BPsign

BP asks Montana judge to dismiss lawsuit alleging deceit

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Attorneys for BP asked a Montana judge Thursday to dismiss a lawsuit by the state alleging the oil giant has deliberately concealed information for decades.
Categories: Crude oil, Legal issues
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EFS 16

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.
A row of pump jacks operate in Apache Canada’s Provost field, located in the southeast part of Alberta (Apache Corp.)

AS Canada’s oil patch faces more job losses, robots add to the misery

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The burgeoning use of robots is one more reason there probably won’t be a quick jobs rebound in Canada’s energy industry as it grapples with cheap crude, tougher environmental controls, higher taxes and elevated costs.
Arthur Perales III works on a gear reducer at the Weatherford rod-pump manufacturing plant Thursday, June 26, 2014, in Katy. (Brett Coomer/Houston Chronicle)

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.
Man passing woman large wad of banknotes, close-up, side view

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.