Fuel Fix

An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)
The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.
(Daniel Acker/Bloomberg)

Wyoming oilmen diversify to survive the bust

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Casper businesses were the hub for Wyoming’s oilfields during the boom years. Today, they are rewriting business plans, reassigning machines for jobs outside the oil patch and experimenting with new product lines.
Russ Girling, President and CEO of TransCanada Corp., during CERA Week at the Hilton Americas on March 4, 2014, in Houston. (Mayra Beltran/Houston Chronicle)

TransCanada ups stake in Canadian electricity generator

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TransCanada, best known in the U.S. for the now-shelved Keystone XL pipeline, is the largest independent power generator in Ontario.
Categories: Deals, Electricity, Pipelines
(Patrick Semansky/Bloomberg)

Wood Group buys The Infinity Group for $150 million

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The privately-owned Infinity was founded in 1952 and is headquartered south of Houston in Clute, but the company also operates in La Porte along the Houston Ship Channel.
David Crane, president and chief executive officer of NRG Energy Inc., speaks during a Bloomberg Television interview at the Robin Hood Investors Conference in New York, U.S., on Tuesday, Nov. 17, 2015. Crane said that the market is craving simplification and that he would not focus on acquisition. Photographer: Michael Nagle/Bloomberg  *** Local Caption *** David Crane

NRG Energy CEO David Crane steps down amid financial woes

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Crane, who led NRG for 12 years out of bankruptcy and into greater national relevance, is being replaced by Executive Vice President and Chief Operating Officer Mauricio Gutierrez.
Categories: Coal, People, Solar
A OPEC logo sits on a sign outside the 167th Organization of Petroleum Exporting Countries (OPEC) conference in Vienna, Austria, on Friday, June 5, 2015. The Organization of Petroleum Exporting Countries has exceeded its own target of 30 million barrels a day for 12 straight months. Photographer: Lisi Niesner/Bloomberg

European stimulus, pre-OPEC meeting jitters propel crude higher

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Eighty-five years after the birth of French filmmaker Jean-Luc Godard, and the crude complex is acting suitably surreal today. As expected, rhetoric is ratcheting up out of Vienna ahead of tomorrow’s OPEC meeting, with the crude market shaken up like a snowglobe. Today’s quote of the day is from an unnamed delegate in Vienna, who has […]
Categories: Middle East
(Andrey Rudakov/Bloomberg)

Russian energy minister says cutting oil output isn’t viable

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Russia will stick to its strategy of maintaining oil production and has no plans to take part in Friday’s OPEC meeting, said Energy Minister Alexander Novak.
Categories: Crude oil, Europe
The silhouettes of emissions are seen rising from stacks of the Duke Energy Corp. Gibson Station power plant at dusk in Owensville, Indiana, U.S., on Thursday, July 23, 2015. (Luke Sharrett/Bloomberg)

‘Clean coal’ technology fails to capture world’s attention

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Carbon capture entails catching the carbon emissions from a power plant or cement or steel factory and injecting them underground for permanent storage.
Categories: Coal, Environment
(Andrew Burton/Getty Images)

Warburg Pincus pours $300 million into oil field services startup

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New York-based private equity firm Warburg Pinucs announced that it has financed two deals: A $300 million infusion of cash to a Houston oil field services startup, and an undisclosed amount of equity to a midstream company, based in The Woodlands, to buy up West Texas gas assets.
Categories: Deals, Finance/Earnings
Brazil's President Dilma Rousseff attends the opening session at the COP21, United Nations Climate Change Conference, in Le Bourget, outside Paris, Monday, Nov. 30, 2015. (Eric Feferberg/Pool Photo via AP)

India, Brazil resist bid for long-term carbon goals

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Negotiators from both countries said Wednesday they favor sticking to the already established goal of limiting global warming to 3.6 degrees F.
Workers prepare drilling pipe on the Petroleos Mexicanos (Pemex) La Muralla IV deep sea crude oil platform in the waters off Veracruz, Mexico, on Friday, Aug. 30, 2013. (Susana Gonzalez/Bloomberg)

Pemex sees total debt rising above $100 billion next year

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Pemex, as the world’s eighth-largest oil producer is known, estimates it will borrow $21 billion in 2016.
Categories: Crude oil, Latin America
Exxon Mobil Corp. signage is displayed at a gas station in Richmond, Kentucky, U.S., on Wednesday, April 29, 2015. Exxon Mobil Corp. is scheduled to release earnings data on April 30. Photographer: Luke Sharrett/Bloomberg

Under fire from green groups, Exxon Mobil declares support for Paris climate talks

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As the United Nations negotiations moved into a third day, the world’s biggest oil explorer said in an blog post that it supports “meaningful action to address the risks of climate change” as long as it preserved access to the reliable and affordable energy.
Categories: Crude oil, Environment
In this March 25, 2014 photo, a worker oils a pump during a hydraulic fracturing operation at an Encana Corp. well pad near Mead, Colo. The first experimental use of hydraulic fracturing was in 1947, and more than 1 million U.S. oil and oil wells have been fracked since, according to the American Petroleum Institute. The National Petroleum Council estimates that up to 80 percent of natural oil wells drilled in the next decade will require hydraulic fracturing. (AP Photo/Brennan Linsley)

Bill opening door to fracking in Florida moves forward

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The bill calls for a $1 million study on how fracking would affect surface and groundwater, underground geology and how water and chemicals used in the process are disposed.
(Jeff Kowalsky/Bloomberg News)

Investors approve MarkWest acquisition by Marathon Petroleum spinoff

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The deal is expected to close Friday with Marathon making an analyst and investor presentation touting the deal on Thursday.