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

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

Much rides on Topshop’s new LA site

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Sir Philip Green says there is strong demand for the UK retailer’s products, explaining that probably 20% to 25% of its online business is to California
Categories: Uncategorized

Only one in three wants UK to stay in EU

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Given an in-out vote 50 per cent would support leaving bloc. Establishment faces uphill struggle to convince public before any referendum
Categories: Uncategorized

When Illusions Confront Reality

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The illusion of the electric car replacing the internal combustion engine didn’t begin with President Obama but he gave it a big boost with his $800+ billion stimulus package. And, crony capitalists were all too willing to take taxpayer money to pursue a grand illusion.  Some no doubt were motivated by the technological challenge but […]
Categories: General

G20 agrees to avoid currency wars

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Financial markets will be carefully parsing the language that emerges from the summit for any indication of the direction of the yen
Categories: Uncategorized

China faces culture of corruption

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China’s ruling Communist party faces an uphill task rooting out the graft at all levels of party and government if it resists outside scrutiny
Categories: Uncategorized

Dead lawyer to go on trial in Russia

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Case believed linked to Magnitsky law in US, which imposes visa blacklist and asset freezes on certain Russian officials accused of rights violations
Categories: Uncategorized

Gunmen kidnap foreign workers in Nigeria

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Briton, Italian, Greek and Lebanese among abducted in the biggest kidnapping of foreign nationals in north since Islamist insurgency there began
Categories: Uncategorized

Pressure builds in Iran nuclear stand-off

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The diplomatic dance cannot go on for ever: Iran is advancing its nuclear technology and the weight of sanctions is mounting. Something has to give
Categories: Uncategorized
A Keystone XL pipeline protester demonstrates outside of the White House on Wednesday, February 13, 2013. (Olivier Douliery/Abaca Press)

Texans join activists at Keystone XL rally in D.C.

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Thousands of environmental activists are descending on the nation’s capital today for a rally against the Keystone XL pipeline that would ferry oil sands crude from Canada to refineries along the Gulf Coast.

Brain implants give rats sixth sense

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Neurotechnology research could lead to brain-controlled prosthetic devices, such as artificial limbs, that give their users a sense of touch
Categories: Uncategorized
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)

ConocoPhillips can restart operations at closed China oilfield

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The State Oceanic Administration of China said in a statement that conditions at the Penglai 19-3 oilfield had returned to normal after a series of rectification measures. It says ConocoPhillips can gradually resume production there.
Categories: General

German banks fight to lend to Mittelstand

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With margins likely to be squeezed and muted corporate demand, regulators, bankers and analysts say there is not enough business to go around
Categories: Uncategorized

Della Valle makes offer for La7 network

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The timing of the luxury goods tycoon’s move just a week before national elections, reinvigorates a debate about media plurality in Italy
Categories: Uncategorized