Fuel Fix

(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

on
The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”

Shell to ax thousands of jobs amid $7 billion in spending cuts

on
(Photographer: Andrey Rudakov/Bloomberg)
The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”
Anadarko Petroleum Corporation CEO Al Walker, gives a speech after his company won top ranked large employer during the Houston Chronicle's Top Workplaces Awards Gala, Thursday, Nov. 8, 2012, in Houston. (Nick de la Torre/Houston Chronicle)

Anadarko CEO: Outlook still uncertain for shale comeback

on
Earlier in the year, before initial declines in service costs, Anadarko had estimated it would take $3 billion in capital expenditures to keep production levels flat. Now, Walker said, it would take about $2.7 billion, and there is still room for improvement.

A jar holding waste water from hydraulic fracturing is held up to the light at a recycling site in Midland, Texas. (AP Photo/Pat Sullivan)

EPA to block drillers from sending wastewater to municipal treatment plants

on
The oil and gas industry faces winnowing options for getting rid of the wastewater that flows out of wells, as the EPA moves to block municipal treatment facilities from accepting it and earthquake fears prompt some states to restrict underground disposal.
In this Wednesday, April 8, 2015 file photo, Ben van Beurden, CEO of Royal Dutch Shell, left, shakes hands with the Chairman BG group Andrew Gould during a press conference to announce Royal Dutch Shell has agreed to buy British Gas, in London. The current wave of corporate takeovers and mergers is set to grow as the appetite for deals among global executives hits a five-year high amid a strong dollar and low oil prices, a survey found Monday April 13, 2015. (AP Photo/Alastair Grant, File)

Deal making down sharply in second quarter

on
A total of 137 deals were announced between April 1 and June 30, the lowest number since the fourth quarter of 2008, according to the U.S. Energy Information Administration.
Categories: Crude oil, Deals

(SAMAD/AFP/Getty Images)

Oil ends trading below $50 for first time since April

on
The price of light, sweet crude oil for September delivery fell to a low of $49.67 per barrel in early trading on the New York Mercantile Exchange.
Categories: Crude oil, Markets
Subsea trees are shown at FMC Technologies, 1777 Gears Road, Wednesday, June 4, 2014, in Houston. ( Melissa Phillip / Houston Chronicle )

FMC Technologies plans further layoffs

on
FMC Technologies executives say its joint venture with another subsea oil-equipment maker has been welcomed by operators but it will have to continue to cut its workforce in coming quarters as activity stagnates.
A Cadillac Escalade with retractable running boards is shown during the Seattle Auto Show at CenturyLink Field Events Center. The Seattle Auto Show continues through October 19th. Photographed on Wednesday, October 15, 2014. (Joshua Trujillo, seattlepi.com)

The 15 least efficient SUVs of 2015

on
SUVs have come a long way to deliver performance, style and efficiency features normally reserved for sedans. However, there are still SUVs out there that have excellent performance and technological features, but fail to deliver on the efficiency end.
Categories: Gasoline, Transportation
In this Thursday, Jan. 28, 2010 file photo, A worker walks past tanks at a Petrochina storage base in Suining, in southwest China's Sichuan province. (AP Photo)

ConocoPhillips halts Sichuan shale gas talks with PetroChina

on
While China has sought to replicate the U.S. shale boom, the nation last year cut its 2020 shale gas production target to about a third of its original estimate amid difficult geology, lack of infrastructure and limited exploration rights.
Categories: Asia, Shale
A boat of tourists moves on Dubai creek, with the city skyline in the background in Dubai, United Arab Emirates. (AP file photo/Kamran Jebreili)

U.A.E. cuts fuel subsidy as oil crash hammers Arab economies

on
“There was no reason to subsidize in a country that is as rich as the U.A.E.,” said Nasser Saidi, former chief economist at Dubai International Financial Centre and head of Nasser Saidi and Associates.
Categories: Crude oil, Middle East