Fuel Fix

Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)

A single oil rig was shut down last week, extending six month decline

on
As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.

A single oil rig was shut down last week, extending six month decline

on
Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)
As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.
Original byline: Jim Blecha/

Vanguard Natural Resources scoops up smaller Houston rival for $474 million

on
The most recent deal comes on the heels of Vanguard’s announcement in April that it will acquire LRR Energy LP for more than $250 million.
Categories: Crude oil, Deals, featured, Shale

The sun sets on a drilling rig in Frio County, Texas.  (Jerry Lara/San Antonio Express-News)

Next big oil boom could come in northwestern NM

on
Executives from some of the nation’s biggest oil and gas companies said Monday that the next big oil boom could take place in northwestern New Mexico.
(AP Photo/Charles Krupa)

Los Angeles aims to go coal-free

on
The Los Angeles Department of Water and Power is taking steps to wean its dependence on coal by the middle of next decade.
Categories: Coal, Electricity

Airlines on course for rise in profits

on
Trade body says carriers are set for a boost from improved passenger numbers and a recovery in air cargo, though the eurozone crisis poses a threat
Categories: Uncategorized

Cyprus crisis: The four scenarios

on
The island’s parliament has rejected the proposed bailout plan but its options for getting its banking system back on its feet are limited
Categories: Uncategorized

Cyprus holds crisis talks in Moscow

on
Nicosia seeks aid from Moscow to secure economic assistance as the island’s finance minister has his resignation rejected by the president
Categories: Uncategorized

South Korean broadcasters ‘hacked’

on
Intelligence agency investigates a potential cyber attack on broadcasting companies and a bank after their computer networks were paralysed
Categories: Uncategorized

Deutsche Bank hit by more legal costs

on
Capital strength dips as German lender sets aside further €600m to cover potential charges from mortgage-related litigation in the US
Categories: Uncategorized

Chinese factories struggle to keep staff

on
Factories are finding it hard to hire workers, partly because of the decline in the working age population, and are investing in incentives
Categories: Uncategorized

Anadarko finds ‘potentially giant’ oilfield

on
Shenandoah 2 appraisal well yields a field that could hold 500m or more barrels of oil and may open up a new area of the gulf for production
Categories: Uncategorized

MF Global reaches agreement with JPMorgan

on
Deal will result in return of more than $500m to former customers of MF Global, ending one chapter of the broker’s protracted bankruptcy process
Categories: Uncategorized

Freddie sues over ‘substantial’ Libor loss

on
Mortgage group claims it suffered losses from swap transactions indexed to the benchmark rate as well as on billions of dollars of mortgage securities
Categories: Uncategorized

Liberty Media in $2.6bn cable ‘pipes’ bet

on
Confirming plans to buy stake in Charter Communications, Liberty Media chief executive told the FT: ‘Pipe is only getting more valuable’
Categories: Uncategorized
A Dow Chemical plant in Freeport, Texas. (AP Photo/Pat Sullivan)

Dow adds more plants to $4B Gulf Coast expansion

on
Dow Chemical Company will build three new petrochemical facilities on the U.S. Gulf Coast, part of a $4 billion expansion plan inspired by the shale boom
Categories: Chemicals, Natural gas
The Constitution spar in the Gulf of Mexico (Anadarko)

Companies announce strong results from Gulf appraisal well

on
Anadarko Petroleum Corp. and ConocoPhillips said late Tuesday that their Shenandoah-2 well in the deepwater Gulf of Mexico could prove to be one of their largest discoveries in the Gulf.
Categories: General

UK set for one of bleakest Budgets in years

on
Faced with stagnant growth, the chancellor will on Wednesday attempt to put himself on the side of ‘people who want to work hard and get on’
Categories: Uncategorized