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

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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

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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

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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

Airbus wins $24bn Lion Air order

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Fast-growing Asia carrier has previously bought aircraft from Boeing but now plans to purchase 234 single aisle jets from the European group
Categories: Uncategorized

Drumbeat: March 18, 2013

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Days of Promise Fade for Ethanol
MACON, Mo. — Five years ago, rural America was giddy for ethanol.

Backed by government subsidies and mandates, hundreds of ethanol plants rose among the golden fields of the Corn Belt, bringing jobs and business to…

Categories: Uncategorized

ZaZa Energy is emphasizing its assets in the Eaglebine with a joint venture with EOG Resources; the company is selling some of its assets in the Eagle Ford. (ZaZa photo)

Oil-rich area may not get tax windfall

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If South Texas’ oil-producing counties thought this was the year they finally would tap deep reserves of state funding for the crumbling roads, lack of housing and increased water demands brought on by their energy boom, they might want to think again.
Categories: Crude oil, Eagle Ford, Wind

Deregulation is working against clean coal in Texas

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Summit’s project is promising, but it remains a subsidized laboratory, not a viable solution to our generating problems.
Categories: Electricity

China joins top five arms exporters

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Chinese arms exports rose 162% in 2008-2012 mainly because of sales to Pakistan, ousting the UK as the world’s fifth-largest weapons exporter
Categories: Uncategorized
Tim Thornton, global technical assurance manager, global subsea engineering for FMC Technologies, next to a subsea Christmas tree built for Shell Oil, March 14, 2013 in Houston. (Photo: Houston Chronicle)

From orbit to drill bit, NASA exes bring deep understanding of risk

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When the shuttle program ended with the last flight of Atlantis in 2011, thousands of workers at NASA’s Johnson Space Center hoped that their skills would transfer over to Houston’s booming energy business.
Lightning storm over Albuquerque, N.M. (Roch Hart/Barcroft Media)

Some companies don’t wait for lightning to strike

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Lightning strikes are the most common cause of accidents involving storage tanks at refineries and petrochemical plants, according to a study in the Journal of Loss Prevention in the Process Industries.
Categories: Crude oil, Natural gas
(Photo: Loozrboy/Flickr)

Keystone fears resonate along New England pipeline

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The Canadian energy industry insists it has no plans to reverse the flow of a pipeline that carries crude oil from Maine to Montreal, but that has done little to reassure New England towns that oppose the idea and the 18 members of Congress asking for a full environmental review.
Crewmen work a site for TransCanada's Keystone XL project in Wood County, Texas. (Cody Duty / Houston Chronicle)

Unions split on plans for Keystone XL pipeline

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While the rest of the economy was in a free fall beginning in 2008, pipeline workers across the country have been busy, said Daniel Hendrix, business manager for Tulsa-based Pipefitters Union Local 798.
Categories: Keystone XL
(Helge Hansen / Statoil)

Statoil, Exxon make third ‘high-impact’ gas find off Tanzania

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Statoil ASA (STL), Norway’s largest energy producer, reported a third “high-impact” natural-gas find off Tanzania and increased its resource estimate for the block to as much as 17 trillion cubic feet.
Categories: Crude oil
A woman walks outside the TNK-BP headquarters in Moscow, Russia, Thursday, Oct. 18, 2012. (AP Photo/Mikhail Metzel)

Russia adopts Texas drilling to revive Soviet oil fields

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Fracking isn’t just for shale. In Russia, producers are importing techniques from the U.S. to squeeze billions of dollars of extra oil from Soviet-era fields.
Categories: Crude oil
(HerryLawford/Flickr)

Japan’s bid to enter trade talks opens route for U.S. LNG

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Japan’s bid to join negotiations for the Trans-Pacific Partnership trade agreement may make it easier for the nation to import U.S. liquefied natural gas, a prospect that is raising the hackles of environmental groups.
Categories: LNG, Natural gas
Sean Lennon and Yoko Ono help deliver boxes of comments to the New York State Department of Environmental Conservation on its proposed natural gas drilling regulations recently in Albany, N.Y. (AP Photo/Mike Groll)

Celeb fracking group not registered

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Dozens of celebrities may be running afoul of the law as they unite under the banner of one group that is seeking to prevent a method of gas drilling in New York state.
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BNK Petroleum sells Okla. property to Exxon unit

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California-based oil and gas producer BNK Petroleum Inc. on Sunday said it reached a deal to sell property in Oklahoma to a unit of Exxon Mobil Corp. for $147.5 million.
Categories: Deals, Natural gas
A crew works on a Marcellus Shale drilling rig to produce natural gas. (AP Photo/Keith Srakocic)

Pa. pushes drillers to fracture with coal mine water

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Each day, 300 million gallons of polluted mine water enters Pennsylvania streams and rivers, turning many of them into dead zones unable to support aquatic life. At the same time, drilling companies use up to 5 million gallons of fresh water for every natural-gas well they frac.