Fuel Fix

(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”

Shell to ax thousands of jobs amid $7 billion in spending cuts

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(Photographer: Andrey Rudakov/Bloomberg)
The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”
Anadarko Petroleum Corporation CEO Al Walker, gives a speech after his company won top ranked large employer during the Houston Chronicle's Top Workplaces Awards Gala, Thursday, Nov. 8, 2012, in Houston. (Nick de la Torre/Houston Chronicle)

Anadarko CEO: Outlook still uncertain for shale comeback

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Earlier in the year, before initial declines in service costs, Anadarko had estimated it would take $3 billion in capital expenditures to keep production levels flat. Now, Walker said, it would take about $2.7 billion, and there is still room for improvement.

The red-handled gas pump signifies 100 percent gasoline at the BG Jr. gas station in Vicksburg,  Miss. (AP Photo/The Vicksburg Evening Post)

Texans push feds to change biofuel quotas

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From Democratic Rep. Joaquin Castro to a Fredericksburg RV enthusiast, Texans are weighing in on the Obama administration’s proposal to slash the amount of biofuels that must be blended into the nation’s gasoline supply.
This drilling rig is working in the South Texas Eagle Ford where EOG Resources had been active.  Photo: Courtesy Photo / HC

Houston companies scored major stock gains in 2013

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Companies that invested in North American oil plays were rewarded with big stock gains in 2013, even as the largest energy companies saw little change in their value overall, according to a new report from the research firm IHS.

Petroleos Mexicanos oil platforms in the Cantarell oil field in the Gulf of Mexico.  (Photo: Pemex/Bloomberg)

Mexico energy reform could bring $1.2 trillion to border towns

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As Mexico moves to open its energy sector to international companies, the new investments and increased activity could mean a bonanza for border towns on both sides, attracting as much as $1.2 trillion in economic activity to the region in the next decade, according to a BBVA Compass economist.
Categories: Latin America

Energy Water Solutions recycling Eagle Ford water for EP Energy

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  Houston-based Energy Water Solutions is recycling water for Eagle Ford Shale operator EP Energy, the company announced Tuesday. The movable water recycling facilities are cleaning produced water – which comes up alongside the well with oil and gas – so that it can be used for hydraulic fracturing. Energy Water Solutions said that the […]
Categories: Uncategorized
A BP company logo sits on display on the forecourt of a gas station operated by BP in London. (Chris Ratcliffe/Bloomberg)

BP to sell off $100M turbine oils business

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Even after selling off billions in assets to pay for oil spill costs, BP is still slimming down.
Categories: Crude oil, Deals
A Canadian Pacific Railway Ltd. train transporting oil leaves Hardisty, Alberta, Canada. (Brett Gundlock/Bloomberg)

Keystone opponents use rail constraints to urge pipeline’s rejection

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Environmentalists are making an unusual argument in their attempt to stop the Keystone XL pipeline: that trains can’t move all the oil out of Canada.
(shankool007/Flickr)

Alaska natural gas project agreement called ‘groundbreaking achievement’

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An agreement with major oil and pipeline companies to advance a liquefied natural-gas project represents a “groundbreaking achievement” for Alaska, says the state’s revenue commissioner.
Categories: Arctic, LNG