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

Andrew Forrest, founder of Fortescue Metals Group Ltd., at his Minderoo property in Western Australia. Photo: Ron D'Raine, Bloomberg

Billionaire miner fights rivals to halt digs on his ranch

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Andrew Forrest, Australia’s richest man who made his fortune digging up iron ore, is fighting bids to exploit the mineral wealth under his own half-a-million acre family ranch in the nation’s remote northwest outback.
Categories: General
An oil clean-up vessels processes leaked oil on the sea surface around the C platform of the Penglai 19-3 oilfield in Bohai Bay, China on July 11, 2011. (Photo: Associated Press)

China says ConocoPhillips can resume production

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The Chinese subsidiary of ConocoPhillips can resume operations at an oil field off the coast of northeastern China that was closed in 2011 after two oil spills, a regulator said.

(Jerry Lara/San Antonio Express-News)

Vote slated Tuesday on Pa. airport drilling deal

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A deal that could be worth $500 million for rights to drill for natural gas and oil at Pittsburgh International Airport in western Pennsylvania could get final approval this week

Cameron urges India to remove barriers

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Business leaders and students offered easier access as prime minister seeks to reassure that UK is not becoming more hostile to migrants
Categories: Uncategorized

China’s lead property developer enters US

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Chinese developers have America and beyond in their sights as Beijing caps home purchases in major cities and many smaller cities suffer overbuilding
Categories: Uncategorized

Royal Mint to restart production in India

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Britain’s oldest manufacturer will make sovereign coins for the first time since 1918 in an attempt to tap into the world’s largest gold market
Categories: Uncategorized

Yen resumes slide after G20 meeting

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The group members pledged not to ‘target exchange rates for competitive purposes’ over the weekend but failed to single out Japan
Categories: Uncategorized
Protestors at the National Mall call on President Obama to reject the Keystone XL pipeline on Feb. 17, 2013. (AP Photo/Manuel Balce Ceneta)

Nebraska utility says power project for Keystone XL will be delayed

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Nebraska Public Power District officials said they won’t be able to build the transmission lines by the deadline TransCanada set for the end of 2014.
Categories: General, Keystone XL

Man Group set for management shake-up

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Overhaul will indicate the extent to which Emmanuel Roman, who takes over on February 28, will exercise far more executive control over day-to-day operations
Categories: Uncategorized

Basel eyes set periods for banks’ risk models

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Rule could set limit on time used for value at risk calculations which would force some lenders to increase sharply the amount of capital they hold against trading assets
Categories: Uncategorized

EU ready to set tough bank pay curbs

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Talks on reforms to make banks safer enter a decisive week with London outgunned after backroom diplomacy to blunt a bonus crackdown
Categories: Uncategorized

Eurozone core cashes in on cheap borrowing

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Barclays’ analysis suggests companies based in ‘core’ of bloc have been main beneficiaries of ECB’s promise to do ‘whatever it takes’ to save eurozone
Categories: Uncategorized

Investors turn their backs on sterling

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More speculators are shorting the pound than buying it for the first time in five months, according to figures from the US Commodity Futures Trading Commission
Categories: Uncategorized

Republican attacks Obama immigration plan

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A Florida lawmaker says the proposal would be ‘dead on arrival’ if sent to Congress – underscoring the uphill fight to reform the US migration system
Categories: Uncategorized

Anastasiades leads Cyprus presidency poll

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Cash-strapped Cyprus takes a big step towards an international bailout as voters give the centre-right opposition leader a commanding lead
Categories: Uncategorized