A record cut to the number of active U.S. drilling rigs and billions of dollars of spending reductions by companies since last year’s price plunge has yet to translate into a slump in barrels produced.
Crude plunged for eight of nine weeks prior to the group’s November gathering, when the kingdom faced down opposition from the majority of fellow members, who advocated output reductions to tackle a global glut.
Houston-based Nat G CNG Solutions has opened its newest center in Converse. Nat G converts new and in-service vehicles to run on compressed natural gas, or CNG. The company also designs, builds and installs natural gas fueling stations for commercial and government clients. Nat G’s clients in the region include San Antonio-based Lewis Energy Group, […]
There are 831 drilling rigs hunting oil and gas in Texas – 47 percent of U.S. rigs and 24 percent of drilling rigs worldwide, according to the latest Baker Hughes Rig Count. Most of the Texas rigs are working in five major fields. The Permian Basin in West Texas has the bulk of the state’s rigs (and more […]
Texas manufacturers are asking state regulators not to adopt a proposed modification to the state’s electricity market that would pay generators for keeping additional capacity available at peak times, saying the change would be costly to consumers and would dampen state growth.
Splitting off from National Oilwell Varco will give a new distribution company more control of its cash as it plans to grow beyond its nearly $4 billion in revenues, the incoming CEO of the business said Monday.
An explosion at a China Petroleum & Chemical Corp. oil pipeline and the nation’s deadliest spillage since at least 2005 may threaten the government’s efforts to lure investment to state-controlled industries as President Xi Jinping called for improved industrial safety.
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