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

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

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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

Drumbeat: March 13, 2013

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US oil boom ‘protects world from supply shocks’
LONDON — SOARING US oil production should be enough to allow consumers withstand most potential supply shocks, the International Energy Agency (IEA) said on Wednesday, as it cut estimates for global oil…
Categories: Uncategorized

Xi’s wife to play role in charm offensive

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Peng Liyuan, a famous Chinese folk singer, will have her own speaking engagement when she accompanies her husband to South Africa for a Brics summit
Categories: Uncategorized

ABB to supply electrical power systems for Ramform Titan seismic vessels

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Mitsubishi Heavy Industries has contracted ABB to supply electrical power and propulsion systems for two Ramform Titan-class seismic vessels.
Categories: Offshore

Aker joins Schiehallion, Loyal redevelopment work in North Sea

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Aker Solutions (OSLO:AKSO) has a NOK 650-million ($113-million) contract with BP (NYSE:BP) to help redevelop the Schiehallion and Loyal fields in the North Sea.
Categories: Offshore

Pemex signs Petrofac, Doris for deepwater GoM subsea well assistance

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Petróleos Mexicanos (Pemex) has awarded a project management contract to a partnership of Petrofac (LONDON:PFC.L) and Doris Engineering for technical assistance and supervision on construction, installation, commissioning, testing, and startup of de…
Categories: Offshore

DNV, Statoil combine to address Arctic offshore challenges

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DNV and Statoil (OSE:STL;NYSE:STO) have joined to develop a competence program that addresses Arctic challenges.
Categories: Offshore

Petrobras contracts Endeavor for Papa Terra review

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Petrobras has retained Endeavor Management to provide third-party review and advisory services on Papa Terra.
Categories: Offshore

Road to natural gas vehicles vexes GM chief

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Only government can break the economic stalemate, but the potential payoff for businesses and the economy is profound.
Categories: Natural gas
General Motors CEO Daniel Akerson (Johnny Hanson/Houston Chronicle)

Steffy: Road to natural gas vehicles vexes GM chief

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Daniel Akerson is a bit chicken of the egg.
Categories: Natural gas
The Deepwater Millennium drillship works on an Anadarko project off the coast of Mozam-bique, one of a dozen African countries Anadarko has interests in.

Anadarko holds talks with Japan over Mozambique LNG supply

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Anadarko Petroleum Corp. (APC) said it’s in talks with potential customers in Japan to buy supplies from a joint liquefied natural gas plant in Mozambique it’s planning with Eni SpA.
Categories: LNG, Natural gas
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OPEC in talks to replace Iranian oil supply to India

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OPEC’s biggest oil producers are in talks to supply extra crude to India, as the nation prepares to halt purchases from Iran because of global sanctions, four people with knowledge of the matter said.
Categories: Crude oil

China’s central bank warns on inflation

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Comments by governor is latest sign the government is willing to tolerate slightly slower growth to keep prices and the property market in check
Categories: Uncategorized
(AP file photo/John Moore)

Saudi Arabia’s shale plans may be slowed by lack of water

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Saudi Arabia may need at least a decade to develop shale-gas production to a scale comparable to the U.S. because of the desert kingdom’s short supplies of water, state oil company officials said.
Categories: Natural gas, Shale
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Houston energy giants weak in diversity, report finds

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Houston-based energy companies rank near the bottom of Calvert Investments’ diversity index for S&P 100 companies, with Apache Corp. and National Oilwell Varco falling into the bottom five.
(Tom Reel/San Antonio Express-News)

Energy companies lose appeals court bid over parcel leasing

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A group of oil and gas companies failed to persuade an appeals court to compel the U.S. to issue parcel leases on which they were the high bidders within 60 days of payment.