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

(Cody Duty / Houston Chronicle)

Southern segment of Keystone XL is halfway finished

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While the debate continues over whether the United States will approve a proposed oil conduit from Canada to the Gulf Coast, the segment from Cushing, Okla., to the Texas Gulf Coast is halfway toward completion and could be transporting oil by the end of the year.
The Ain Amenas gas field in Algeria, where Islamist militants raided and took hostages Wednesday Jan. 16, 2013. (AP Photo/Kjetil Alsvik, Statoil via NTB scanpix, File)

Algerian gas plant in terror siege resumes work

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A gas installation in Algeria that was the site of a terrorist attack last month that left 37 hostages dead partially resumed production Sunday, as the head of the state-owned energy company said he would request armed personnel for energy plants to help prevent future assaults on sites that can be hundreds of miles from the nearest city.
Categories: General

Italy goes to the polls in close election

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Italians say they are making their most difficult choice ever, unsure whether to remain faithful to mainstream parties or be swayed by anger at the establishment
Categories: Uncategorized

UK downgrade reignites austerity debate

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Business secretary Vince Cable calls for alternative stimulus by allowing councils to borrow more and use the money to build new houses
Categories: Uncategorized

Battle over wireless power standards

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Analysts say the different standards and alliances make it difficult to predict how quickly the market for wireless power will grow
Categories: Uncategorized

‘Captain Magic’ conjures up hedge launch

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Raffaele Costa, former GLG partner, is set to unveil the first fund from his new firm Tyndaris at an ostentatious launch in Savile Row
Categories: Uncategorized

Osborne feels heat over rating blow

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Tory backbenchers are demanding further tax and spending cuts, while Lib Dems are lobbying the chancellor for more money to be spent on housing
Categories: Uncategorized

Cyprus victor vows to finalise bailout

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Nicos Anastasiades vowed to resume talks quickly with international bailout lenders as he swept to an overwhelming victory in the island’s presidential election
Categories: Uncategorized

Asian banks win record share of debt deals

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Eastern groups more than double the market share of corporate debt activity in the US and Europe over the past year, according to Dealogic data
Categories: Uncategorized

Turkey scraps $5.7bn privatisation

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Veto over highway and bridges concession causes analysts to question how much certainty investors can expect from entering tender processes
Categories: Uncategorized

RBS plans partial float of US unit

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A partial float of Citizens in two years’ time could raise up to £2bn for RBS, which, like other UK banks, needs to find new capital
Categories: Uncategorized

Silicon Valley in immigration reform call

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A coalition of entrepreneurs, venture capitalists and social media experts are launching a campaign for comprehensive immigration reform
Categories: Uncategorized

BP stuck in holding pattern

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The oil company’s underlying business simply isn’t growing, and the promise of improved profitability remains just that – a promise
Categories: Uncategorized

Minister rejects anti-France ‘falsehoods’

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Firebrand industry minister hits back at ‘negative campaign’, pointing to ‘a tradition of welcome for foreign companies that goes back a long way’
Categories: Uncategorized

Kuroda emerges as BoJ frontrunner

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Prime minister Shinzo Abe is set to make a final decision on the nomination in the coming days, having consulted with opposition parties
Categories: Uncategorized