Fuel Fix

(Photographer: Andrey Rudakov/Bloomberg)

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

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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

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(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

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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.

(Image: Fotolia)

BP asks Texas Supreme Court for ruling that would cut spill costs

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The legal question of the day, submitted by the 5th Circuit Court of Appeals to the justices in Texas, could change the way companies finance risky business operations well beyond the oil industry.
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Spectra Energy announces $3 billion New England project

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Spectra Energy Corp. announced a $3 billion expansion to its New England pipeline network, which it said will help meet growing demand for natural gas in the region.
Categories: General

Vanguard Natural Resources

Vanguard to spend $525 million for Colorado gas and NGL assets

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Vanguard Natural Resources LLC has moved further into Colorado’s Piceance Basin with a $525 million deal for producing acreage from Denver-based Bill Barrett Corp., Vanguard announced today.
The American Petroleum Institute is distributing toy shovels to mark the six years since TransCanada Corp. began seeking U.S. approval to build the Keystone XL pipeline. (Jennifer A. Dlouhy / The Houston Chronicle)

Keystone marks sixth anniversary with pipeline props

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Shovels, anniversary cards and tours are all designed to highlight the six years since TransCanada Corp. first asked the U.S. government for permission to build the Keystone XL pipeline.
In this Thursday, Sept. 11, 2014 photo, workers lay cables on a new oil rig under construction for China National Offshore Oil Corp. (CNOOC) in a shipyard in Qingdao in east China's Shandong province. The Chinese exploration rig at the center of a tense maritime standoff with Vietnam earlier this year has made its first deep sea gas discovery in the politically volatile South China Sea, state media announced Tuesday, Sept. 16. The discovery by CNOOC was made about a month after its rig withdrew in July from Vietnam's exclusive economic zone to far less-contested waters closer to China. (AP Photo) CHINA OUT

China rig finds gas after Vietnam sea standoff

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The discovery by China National Offshore Oil Corp. was made about a month after its rig withdrew in July from Vietnam’s exclusive economic zone to far less-contested waters closer to China.
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BP Alaska plans layoffs following Hilcorp sale

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Gov. Sean Parnell said he was “extremely disappointed” by the planned layoffs.
Categories: Arctic
Yellow oil barrels

Crude bounces back on dollar’s decline

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Oil for October delivery climbed 65 cents to end at $92.92 a barrel.