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)

Houston crude-by-rail company files for $150 million IPO

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Houston rail terminal operator USD Partners told regulators Friday it plans to make a $150 million Wall Street debut later this year as U.S. oil companies turn to trains to transport crude.
Categories: Deals, Markets, Rail
Pictured is a hydraulic fracturing operation in the Permian Basin that took place on Oct. 1, 2012. Apache is an active driller in the Permian Basin and during the quarter averaged 35 rigs drilling 201 wells of which 26 were horizontal. (Apache)

Feds advance hydraulic fracturing rule

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The Obama administration is on track to impose new mandates governing hydraulic fracturing on public land by the end of the year, a move that threatens to topple the White House’s delicate balancing act assuaging worried environmentalists while still sustaining a domestic drilling boom that is bolstering the U.S. economy.

Illinois state agency issues fracturing rules

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he lengthy report follows months of delays and complaints over the process to draft rules governing hydraulic fracturing, or fracking, in Illinois. Industry officials say southern Illinois has rich deposits of natural gas, but a final draft of the rules — initially touted as a national model of both sides working together — has taken months for the agency to produce as industry groups warned the state was losing business.
The Stripes convenience on Southmore Blvd. on Monday, April 28, 2014, in Houston. ( J. Patric Schneider / For the Chronicle )

Energy Transfer Partners completes $1.8 billion Susser deal

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Dallas-based pipeline company Energy Transfer Partners completed a deal to acquire Corpus Christi’s Susser Holdings Corp. in a transaction that will ultimately bring the Stripes and Sunoco convenience stores under the same umbrella, the companies announced Friday.
Categories: Deals, Gasoline
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Green Dragon Gas settles with ConocoPhillips for $40 million

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Green Dragon Gas Ltd., a Chinese producer of coal-bed methane gas, has agreed to pay ConocoPhillips a $40 million arbitration settlement to end a contract dispute.
Categories: Asia, Coal, Legal issues
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Commentary: Mexico enters shale play

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While the energy world has been focused on Canadian shale over the past few years, Mexico has been quietly emerging as a major player in the crude oil and natural gas industry. With the recent passage of massive energy reforms in Mexico, billions of barrels of oil and trillions of cubic feet of natural gas […]
Pemex's Yuum K'ak' Naab floating production, storage and offloading vessel works in Mexico's Bay of Campeche. (Susana Gonzalez/Bloomberg)

Hearing to discuss Mexico’s energy impact on Texas

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An energy boom is brewing across the border, and a joint legislative hearing in September will talk about the potential impact on the Rio Grande Valley.