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

Cities named for electric F1 series

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Plans for motor racing’s electric car world championship have been stepped up after eight cities were named as venues for next year’s inaugural series
Categories: Uncategorized

China warns over fresh currency tensions

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Competitive devaluations will hurt emerging countries, says Beijing’s commerce minister, reminding G20 nations of promises to avoid currency wars
Categories: Uncategorized

New Year blamed for China imports dip

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Economists say fall-off in China’s imports and slowing export growth in February can be explained, at least partly, by country’s New Year holiday
Categories: Uncategorized
Bill Gates

Bill Gates urges government to spend more on energy R&D

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Billionaire philanthropist Bill Gates urges more government funding for energy research.
(Photo: Fotolia)

Valero considering more heavy Canadian crude for refining

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On Thursday, Valero President Joe Gorder said the company is considering shipping by rail 30,000 barrels a day of heavy sour Canadian crude to its 135,000-barrel-a-day Wilmington plant.
Categories: Canada, Refining
The Valero Three Rivers Refinery in Three Rivers, Texas between San Antonio and Corpus Christi refines a lot of oil from the Eagle Ford Shale. (San Antonio Express News/John Davenport)

Valero refinery revived on Eagle Ford crude

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Valero Energy Corp.’s refinery in Three Rivers was headed for mothballs a few years ago. Now that it sits in the middle of the Eagle Ford Shale, it’s called a “crown jewel.”
Categories: Eagle Ford, Refining
Crewmen work a site for TransCanada's Keystone XL project in Wood County, Texas. (Cody Duty / Houston Chronicle)

Landowners meet oil industry in Beaumont courtroom over Keystone XL

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TransCanada and the Texas Land Partners presented their cases to the judges of the Ninth Court of Appeals in a dispute over the condemnation of Southeast Texas farmland for the Keystone XL pipeline.
Categories: Legal issues, Pipelines

US urges China to enact N Korea sanctions

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A UN resolution to restrict cargo movements was the product of three weeks of talks between Washington and Beijing after Pyongyang’s nuclear test
Categories: Uncategorized
Deborah Caplan , COO, Florida Power & Light Company talks about what she learned dealing with three hurricanes in 2005. (Nick de la Torre/Houston Chronicle)

Hurricanes are trial run for cyberattacks, energy leaders say

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Power utilities are better prepared for cyberattacks aimed at energy companies and the electric grid because of their responses to hurricanes and other natural disasters, but better planning and coordination are needed, executives said at the CERAWeek energy conference Thursday.
Categories: CERAWeek

Bin Laden son-in-law taken to US

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Sulaiman Abu Ghaith, who appeared in militant videos representing al-Qaeda after the 9/11 terror attacks, was detained in an FBI-led operation
Categories: Uncategorized

Stocks firm ahead of US jobs data

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Wall Street extends gains ahead of Friday’s non-farm payrolls numbers as traders absorb latest BoE and ECB policy decisions
Categories: Uncategorized

Goldman exposed to $20bn loss in a crisis

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Seventeen out of 18 institutions passed Federal Reserve stress tests, with only Ally Financial failing to meet minimum capital levels in the hypothetical scenario of a deep global recession
Categories: Uncategorized

DOF Subsea charters Harvey Deep-Sea

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DOF Subsea USA has entered into a long-term charter agreement with Harvey Gulf International Marine for the new build DP-2 Multipurpose Construction Vessel, the Harvey Deep-Sea.
Categories: Offshore

North Sea Pelican redevelopment gets green light

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Britain’s Energy Minister has approved TAQA Bratani’s revised development plan for its Pelican field in UK North Sea block 211/26a.
Categories: Offshore

BP warns of higher settlement costs

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Oil company says it expects claims received and processed so far to cost $7.7bn, with any future claims not yet processed adding to that bill
Categories: Uncategorized