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

Pharma group sues European regulator over data

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US group seeks injunction to block the release of data on one of its medicines amid concerns rival companies could exploit such information
Categories: Uncategorized

Karzai accuses US of Taliban link

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The Afghan president accused the US and the Taliban of colluding to convince Afghans that foreign forces were needed to maintain peace
Categories: Uncategorized

Europe’s woes leave Brics exasperated

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To many of the non-European participants at the Ambrosetti finance forum, Europe appears as a cause for concern more than a model worthy of emulation
Categories: Uncategorized

Egypt hits problems over IMF loan

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IMF has expressed reservations over economic plan needed to seal a financial agreement two years in the making
Categories: Uncategorized

US and Europe launch derivatives reform

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All swaps trades to be processed through clearing houses as regulators seek to reduce opacity and counterparty risk in the $640tn industry
Categories: Uncategorized

Saudi jailings renew human rights fears

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Two prominent activists have been sentenced to at least 10 years in prison for offences including sedition and giving inaccurate information to foreign media
Categories: Uncategorized
An oil pump jack is shown in a a field adjacent to a sub-division near Fredrick, Colo.  (AP Photo/Ed Andrieski)

Georgia tees up for next shale gas boom

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Shale gas drilling is slowing across the country, but a handful of companies are poking around this corner of the state looking for the next natural gas “play.” If they succeed, Georgia could join the ranks of states reaping jobs, revenue and fears of environmental damage from energy production.
Categories: Natural gas, Shale

Norfolk Southern chief promises to invest

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Norfolk Southern rail chief vows to resist price cutting after group reported coal volumes down 13% in 2012 and coal freight revenues down 17%
Categories: Uncategorized

NYSE short sellers bet against Tiffany

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Short-sellers gamble on near-term woes for US jeweller, battling higher inventory costs and falling sales while Qataris back long-term gains
Categories: Uncategorized

Lib Dems revolt over secret courts

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Vote will not force the party MPs or peers to vote against the bill, but strengthens the hand of rebels who have tried, and so far failed, to have it amended
Categories: Uncategorized

Brazil ethanol industry set for tax cut

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After talks, authorities are preparing to reduce the tax burden on ethanol from R$120 ($62) per cubic metre to R$25, according to industry insider
Categories: Uncategorized

Archbishop of Canterbury attacks welfare reform

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Government insists reform is necessary to keep the welfare sustainable but it is mindful that it needs to be seen to be helping families
Categories: Uncategorized

India banks urged to follow China’s lead

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ICICI chief predicts consolidation in sector as Indian banks, which are minor by international standards, seek global scale over the next decade
Categories: Uncategorized
Workers move a section of well casing into place at a Chesapeake Energy natural gas well site near Burlington, Pa. (AP Photo/Ralph Wilson, File)

Fracturing health study results likely years off

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With New York entering the fifth year of review of the process known as hydraulic fracturing, growing calls to wait for the study could push a final decision back several more years, frustrating landowners and the natural gas industry.

Tech Talk – Venezuela after Hugo Chavez

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With the death of the Venezuelan President Hugo Chavez, the future production and exports of Venezuelan crude are gaining a little new attention. I had noted in the last post that there is a difference of around 400 kbd between the 2.379 mbd that outs…
Categories: Keystone XL