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

A government at the mercy of events

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The most significant effect is likely to be political for a government that staked credibility on events beyond its control, writes Martin Wolf
Categories: Uncategorized

Drumbeat: February 23, 2013

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U.S. Oil Demand Fell to 18-Year Low for January, API Says
U.S. January oil demand fell to the lowest level for the month in 18 years as a weak economy reduced consumption, the American Petroleum Institute reported.

Total petroleum deliveries, a measur…

Categories: Uncategorized

UK loses triple A credit rating

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Moody’s lowers the UK rating by one notch to Aa1, citing the deterioration in the government’s balance sheet and medium-term sluggish growth
Categories: Uncategorized
(Photo: Fotolia)

New pipeline to move Eagle Ford gas to Mexico

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Houston-based NET Midstream on Friday announced it will build a 124-mile pipeline to transport natural gas from the Eagle Ford Shale region to the Mexican border.
Categories: Eagle Ford, Pipelines

Sterling hits two-year low on downgrade

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The UK’s government bond rating was downgraded by one notch to Aa1 by the rating agency, which said its outlook was now stable
Categories: Uncategorized
Trailers used as temporary housing for oil industry workers are are parked along a dirt road outside Dore, N.D. (AP Photo/ James MacPherson)

Oil boom makes employers landlords in North Dakota

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Booming oil production means unemployment in Williams County, N.D. is the lowest in the nation, less than 1 percent. Halliburton Co. has built 50 single-family homes in the county seat over the last two years and is completing 44 townhouses and two apartment buildings.

Abe lays out vision of Japan power in Asia

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Declaration that ‘Japan is back’ could raise hackles in China, where a new leadership is keen to establish country as a more dominant political force
Categories: Uncategorized

Google looks to beat music rivals

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Discussions with music labels reflect the search group’s ambition to extend its influence into new business areas and diversify from advertising
Categories: Uncategorized

Einhorn wins battle to block Apple vote

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Some shareholders, including Calpers, the public pension fund, have argued the proposal would have marked an improvement in corporate governance
Categories: Uncategorized

Negligence at heart of BP gulf spill trial

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Four companies are set to begin a trial over the 2010 disaster in which billions of dollars in penalties hinge on an unclear legal distinction
Categories: Uncategorized

HTC settles with FTC over security flaws

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The settlement comes just after the launch of HTC’s latest flagship device which the Taiwanese company is hoping will reverse tumbling profits and declining market share
Categories: Uncategorized

Abercrombie to shutter up to 50 US stores

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Like-for-like sales fell 1 per cent at youth fashion retailer’s US stores, extending previous declines in an intensely competitive sector
Categories: Uncategorized

Boeing tells FAA of plans to fix battery

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Fixes involve measures to ensure short-circuiting or overheating in one battery cell does not spread, people familiar with the company’s plans said
Categories: Uncategorized
Former U.S. Energy Secretary Steven Chu

Energy Sec. Chu addresses US solar power

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In less than twenty years, the Energy Department hopes to help lower the cost of generating solar-powered electricity to be competitive with power generated from coal or natural gas.
Categories: Solar

CIA shifts Hollywood gaze to its best side

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Films in contention for Oscars have recast once sinister or buffoonish secret agents as American heroes, despite the surge in drone attacks
Categories: Uncategorized