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

Central bank succession grips Russia

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End of Ignatiev term turns Moscow into hive of intrigue as contenders jostle for position against a background of little consensus over policy
Categories: Uncategorized
Hess's Port Reading refinery and terminal in New Jersey, which the company plans to close by the end of February 2013. (Hess)

Hess to shed businesses after shareholder Elliott’s demands

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Hess Corp., the New York oil company targeted by Paul Singer’s Elliott Management Corp., plans to name six new board members, exit the energy trading and marketing businesses and sell its gasoline stations as it transforms to an exploration and production company.
Categories: Refining

Norway approaches offshore reserves growth target

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Norway’s total recoverable petroleum resources are 13.6 bcmoe, according to the latest estimate from the Norwegian Petroleum Directorate (NPD).
Categories: Offshore

BP awards AMEC Clair Ridge hook up

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AMEC will hook up and commission the two new Clair Ridge platforms BP is installing west of the Shetland Islands.
Categories: Offshore

Obama taps EPA veteran to lead agency

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Gina McCarthy will take on a job that frequently clashes with businesses because of the EPA’s role in regulating air and water pollution
Categories: Uncategorized
woman with laptop computer

Energy firms named top spots for women-owned businesses

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A number of energy companies earned top marks from the Women’s Business Enterprise National Council, which recently released its 14th annual listing of America’s Top Corporations for Women’s Business Enterprises.

Iran completes South Pars 19 pipelay

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Offshore installation of the second South Pars Phase 19 sour gas 32-in. pipeline is complete in the Persian Gulf.
Categories: Offshore

New safety alert on North Cormorant platform

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Another hydrocarbon release has been detected in one of the Cormorant Alpha platform legs in the UK northern North Sea.
Categories: Offshore

Shell orders further Qatar crew transfer system

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Qatar Shell GTL has ordered another Offshore Access System (OAS) from Offshore Solutions.
Categories: Offshore
Workboats operate near the Transocean Development Driller II at the site of the Deepwater Horizon incident in the Gulf of Mexico. (AP file photo/Dave Martin)

Transocean chief disappointed with Gulf oil spill insurance ruling

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Transocean will fight for its fair share of proceeds from insurance policies providing for at least $750 million in coverage amid an appeals court ruling that allows BP to tap into the money to help pay for its liabilities related to the 2010 Gulf of Mexico oil spill.

Drumbeat: March 4, 2013

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‘Peak oil’ doomsayers proved wrong
Washington (CNN) — Remember “peak oil”?

Five years ago, some oil market speculators became convinced that the world was nearing the limits of oil production. Sometime soon — the 2010s? the 2020s? — oil production …

Categories: Uncategorized

Warning signs for US corporate bonds

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The debt market is looking expensive after a recent boom and even the largest and safest borrowers are having to pay higher premiums
Categories: Uncategorized

Hot Air About Natural Gas Exports

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In his February 1 article on Reason.com, Ron Bailey writes, “To the extent we live in a ‘post-truth’ era” lobbying policy-makers “is in good measure because it pays so well to dissemble, exaggerate, and spin for government grants and favors.”  If he had written that today, he might have been referring a recent Wall Street Journal opinion […]
Categories: General

Weibo alters China’s environmental debate

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Citizens are increasingly turning to the Twitter-like microblog service to vent their anger over pollution, forcing government to respond
Categories: Uncategorized
Barack Obama has nominated Massachusetts Institute of Technology physicist Ernest Moniz to head the Energy Department. (Denis Poroy/AP)

Obama names picks to head energy and environment agencies

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President Barack Obama on Monday nominated Ernest Moniz to lead the Department of Energy and named Gina McCarthy as his pick to head the Environmental Protection Agency.
Categories: People, Politics/Policy