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

A flare is seen as gas from methane hydrate was produced from drilling in the Nankai Trough about 50 kilometers (31 miles) off the coast of Honshu island, Japan, in this handout photograph released to the media on March 12, 2013. Japan Oil, Gas and Metals National Corp. via Bloomberg

Japan begins test production of frozen gas under seabed

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Japan, which imports almost all its energy, produced gas in the world’s first tests to extract the fuel from methane hydrate deposits under the seabed, Japan Oil, Gas & Metals National Corp. said in an e-mailed statement.
(AP Photo/Gerald Herbert, File)

Halliburton exec testifies at Gulf spill trial

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An executive from the company that was BP’s cement contractor on the Deepwater Horizon drilling rig testified Monday that he learned of some “irregularities” in tests that the contractor’s employees performed after the massive 2010 oil spill in the Gulf of Mexico.

(AP Photo/Ed Andrieski)

Colorado sees surge in oil production

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The Colorado Oil and Gas Commission says the state produced nearly 48 million barrels of oil in 2012, an amount not seen in decades.
Categories: Crude oil

SFO launches probe into Autonomy

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Hewlett-Packard passes on information to the UK watchdog as it launches an investigation into the $11bn acquisition of the software group
Categories: Uncategorized

Conclave begins with no clear favourite

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The 115 voting cardinals of the Catholic Church begin their conclave on Tuesday to elect a new pope with several considered to be in the running
Categories: Uncategorized

HK woman jailed for money laundering

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Public housing tenant jailed for ten years after being found guilty of laundering more than $877m through 9 banks between 2002 and 2005
Categories: Uncategorized

Australia’s new media law irks News Corp

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Media groups will have to pass a public interest test to expand their media empires in Australia under rules proposed by the Labor government
Categories: Uncategorized
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Republican wants answers about feds’ offshore drilling strike team

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A top congressional Republican wants to know more about a new Interior Department “strike team” dedicated to rooting out wrongdoing by companies drilling offshore and the government officials who police them.
Categories: Politics/Policy

GE aims to double African sales

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Chief Jeff Immelt says sub-Saharan region had been ‘off the radar’ when he took over the US’s largest industrial group in 2001 but was now ‘essential’
Categories: Uncategorized

US urges China to crack down on hacking

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Thomas Donilon, White House national security adviser, said incidents of hacking of US companies coming from China were at an ‘unprecedented scale’
Categories: Uncategorized
(AP Photo/LM Otero)

Nuclear industry withers in US as wind pummels prices

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The U.S. wind-energy industry went on a $25 billion growth binge in 2012. The surge is creating havoc for nuclear power and coal generators that sell their output into short-term markets.
Categories: Electricity, Nuclear, Wind
(Photo: Phil Hollman/Flickr)

Steel company says no deal with Cape Wind

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The president of a Massachusetts company once touted as a supplier of steel foundations for turbines for the project that aims to be the nation’s first offshore wind farm said his deal with Cape Wind is dead and he questions the developer’s commitment to the landmark project.
Categories: Offshore, Wind

Stocks rise in afternoon rebound

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Stock markets are mixed after last week’s highs as disappointing Chinese economic data damp response to unexpectedly strong US jobs report
Categories: Uncategorized

Algorithms reveal Facebook users’ secrets

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Sexuality, drugs and politics predicted from program data with techniques that could easily be replicated by companies to infer personal attributes
Categories: Uncategorized

Judge blocks New York’s sugary drinks ban

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New York state judge says the city’s proposed ban on sales of supersized sugary drinks is ‘fraught with arbitrary and capricious consequences’
Categories: Uncategorized