Fuel Fix

OTC 2013

Technip to lay off 6,000 workers

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The Paris-based firm, which has its main U.S. offices in Houston, said Monday the move will save it $919 million over the next two and a half years, with the bulk of those savings coming in 2016.

Technip to lay off 6,000 workers

on
OTC 2013
The Paris-based firm, which has its main U.S. offices in Houston, said Monday the move will save it $919 million over the next two and a half years, with the bulk of those savings coming in 2016.
A Linn Energy relief driller loads drill rods onto a rig in Indiana, Pennsylvania in the Appalachian Basin. (AP file photo/Andrew Rush)

Linn Energy sells Permian assets, finalizes $1.5 billion in equity deals

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The assets include 6,400 net acres northeast of Midland for prospective horizontal drilling in the Wolfcamp area of the Permian. The deal also includes existing production from 133 wells in the area.

A boat of tourists moves on Dubai creek, with the city skyline in the background in Dubai, United Arab Emirates. (AP file photo/Kamran Jebreili)

Oil giants will pay more for UAE oil as 75-year pact ends

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The largest U.S. and European oil companies will pay more for Abu Dhabi crude when the end of a 75-year partnership reduces their direct stakes in the emirate’s output, according to two people with knowledge of the matter.
Categories: Middle East
The Baker Hughes research and development building in Tomball, Texas. (Todd Spoth/For the Chronicle)

Iraq protest costs Baker Hughes $80M

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A protest that left damage to Baker Hughes’ main facility in Iraq cost the company $80 million in profit in the fourth quarter, the company said Friday.

Smoke rises from oil refineries after explosion in Qingdao in east China's Shandong province, Friday, Nov. 22, 2013.  (AP)

China punishes state oil refiner chief over blast

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Chinese authorities are holding the chief of China’s largest oil refiner responsible for a November pipeline explosion that killed 62 people and injured scores of others.
Categories: Accidents, Asia
An Eagle Ford well near Kenedy, Texas. (Eric Gay/AP)

Buda Limestone scores new interest in South Texas

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The Buda Limestone lies just below the Eagle Ford Shale, and is a longtime target that is attracting renewed interest from drillers.
Categories: Deals, Eagle Ford
President Barack Obama . (AP Photo/ Evan Vucci)

President orders quadrennial study of energy strategy

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President Obama says the U.S. needs a comprehensive, coordinated strategy.
Categories: Politics/Policy
Offshore oil drilling platform 'Gail' operated by Venoco, Inc., is shown off the coast of Santa Barbara, Calif. (AP Photo/Chris Carlson)

EPA to require offshore fracturing reports for S. California

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Records indicate hydraulic fracturing has occurred off Southern California since the late 1990s with mixed success.
Wrecked oil tankers and debris from a runaway train are piled up following a deadly explosion in Lac-Megantic, Quebec, Canada in July 2013. (AP Photo/Surete du Quebec, The Canadian Press)

Senators: More scrutiny needed after train explosions

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Leading Democratic senators said the Obama administration needs to step up its scrutiny of safeguards governing oil transport, following train derailments and explosions.