Fuel Fix

OTC 2013

Technip to lay off 6,000 workers

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The Paris-based firm, which has its main U.S. offices in Houston, said Monday the move will save it $919 million over the next two and a half years, with the bulk of those savings coming in 2016.

Technip to lay off 6,000 workers

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OTC 2013
The Paris-based firm, which has its main U.S. offices in Houston, said Monday the move will save it $919 million over the next two and a half years, with the bulk of those savings coming in 2016.
A Linn Energy relief driller loads drill rods onto a rig in Indiana, Pennsylvania in the Appalachian Basin. (AP file photo/Andrew Rush)

Linn Energy sells Permian assets, finalizes $1.5 billion in equity deals

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The assets include 6,400 net acres northeast of Midland for prospective horizontal drilling in the Wolfcamp area of the Permian. The deal also includes existing production from 133 wells in the area.

FRACKING WELL 01 JL

Shale well depletion raises questions over US oil boom

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Hydraulic fracturing creates an initial production spike that soon turns south. Behind the headlines boasting of a U.S. oil boom, producers have been grappling with rapid production declines at aging shale-play wells. The only answer: drill more and more wells.
Thilde Jensen of Truxton, N.Y, protests against natural gas drilling in New York state during a rally in Albany, N.Y., on Monday, Jan. 25, 2010.  (AP Photo/Mike Groll)

NY gov could delay fracking ban decision until after election

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Gov. Andrew Cuomo on Monday said he would decide whether New York should allow hydraulic fracturing for natural gas by Election Day next year — maybe.

(StockMonkeys.com)

Billionaire pushes California lawmakers for oil tax

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Billionaire environmentalist Tom Steyer said Monday that he will launch a campaign next year urging California lawmakers to approve taxes on companies that extract oil in the state.
(Image: Fotolia)

State regulators OK NV Energy sale to MidAmerican

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Nevada utility regulators gave their approval Monday for the sale of the state’s largest electric utility to a company controlled by billionaire Warren Buffett.
Categories: Deals, Electricity
(Image: Fotolia)

Crude oil edges lower as Fed meeting in focus

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The price of oil edged lower Tuesday as investors waited to see whether or not the U.S. Federal Reserve would start reducing its economic stimulus program at a key policy meeting this week.
Categories: Crude oil, Markets
Drillships work near the Tahiti field in the deepwater Gulf of Mexico. (Simone Sebastian/Houston Chronicle)

Court won’t take Gulf spill moratorium case

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The Supreme Court won’t decide if the Obama administration violated a judge’s order that struck down its temporary moratorium on deep water drilling after BP’s 2010 oil spill in the Gulf of Mexico.
Categories: Legal issues, Offshore
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Jury deliberates in ex-BP engineer’s trial

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federal jury is weighing the Justice Department’s case against a former BP engineer charged with deleting texts messages to obstruct a probe of the company’s massive 2010 oil spill in the Gulf of Mexico.