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

Gold falls below $1,600 on recovery hopes

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High-profile funds sold down their holdings of gold exchange traded funds in the last quarter of 2012 as signs of recovering US growth sap haven appeal
Categories: Uncategorized

SAC fund investors withdraw $1.7bn

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The hedge fund managed more than $15bn at the start of the year, with 60 per cent of its capital controlled by employees and founder Cohen
Categories: Uncategorized

UK favourite tax regime for big business

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The chancellor is trying to balance his push to increase Britain’s tax competitiveness with pressure to clamp down on corporate tax avoidance
Categories: Uncategorized

Kevin Brady to head House tax reform task force on energy

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Rep. Kevin Brady is a busy man these days. He’s chairing Congress’ Joint Economic Committee. He’s heading up the House Ways & Means Committee Health Subcommittee. And now he’s taking on new and significant responsibilities: He’s been asked by House Ways & Means Committee Chairman Dave Camp to coordinate a bipartisan task force looking at  
Categories: Uncategorized
A Tenaris Conroe employee lines up a stack of pipes so a Petibone forklift can pick the up to put into another pile waiting to be finished for sale in Conroe. ( Nick de la Torre / Chronicle )

Tenaris announces $1.5B pipe plant in Matagorda County

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Tenaris, an international company with North American headquarters in Houston, will build a $1.5 billion pipe mill in Matagorda County to serve drillers in the Eagle Ford and other unconventional shale plays.
Categories: Eagle Ford

Pistorius denies murder charge

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The Paralympic athlete has issued a strongly worded statement after his court appearance as the South African media report national shock and dismay
Categories: Uncategorized

Central banks face superpower test

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Global equities have rallied strongly over the past half year on the “central bank put” but this week has seen signs more muscle-flexing may be needed
Categories: Uncategorized

Burger King boosts 3G after Heinz deal

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The US’s third-largest burger chain by sales, cut costs by moving to a franchisee-owned model, a strategy touted by 3G as a way to increase margins
Categories: Uncategorized
Bay City resident, Dr. Robert Malina stands by a large "Stop White Stallion Coal Plant" on his property in Bay City, where The Texas Commission on Environmental Quality is set to approve the proposed White Stallion Energy Center, a coal-fired power plant, in Matagorda County over the objections of local officials and residents.  ( Karen Warren / Houston Chronicle )

Developers drop plans for Texas coal plant

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Developers have pulled the plug on the proposed White Stallion Energy Center, a coal-fired power plant planned for Matagorda County, about 90 miles southwest of Houston.
Categories: General

Dual screw compressor designs aims to cut emissions offshore Brazil

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Petrobras has ordered six two-stage screw compressor units from MAN Diesel & Turbo to go onto six FPSOs.
Categories: Offshore
Gina McCarthy testifies during a public hearing in 2007, when she was head of the Connecticut Department of Environmental Protection. (AP Photo/Jack Sauer)

Top EPA contender draws fire

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Senate Republicans are stepping up their complaints about the Environmental Protection Agency’s top clean air official, Gina MCCarthy, as she emerges as President Barack Obama’s likely pick to head the agency.
Categories: Politics/Policy

Jack/St. Malo hull leaves shipyard

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The semisubmersible hull for Chevron’s Jack/St. Malo deepwater Gulf of Mexico project has sailed out of the Samsung Heavy Industries yard in Geoje, South Korea, bound for the Kiewit yard in south Texas.
Categories: Offshore

Statoil gets go-ahead to produce heavy oil from Mariner

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Britain’s government has approved Statoil’s plan for the $7 billion-plus development of the heavy oil Mariner field.
Categories: Offshore

STX Norway, Romanian yards get subsea construction vessel orders

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STX OSV Holdings (STX OSV) has won contracts to design and build three new subsea construction vessels.
Categories: Offshore

From workhorse to main course

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From field to slaughterhouse to supermarket, the chain that our food follows is complicated and fragmented while quality control checks are sporadic
Categories: Uncategorized