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

Stocks firm but bulls struggle for impetus

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Europe firms and Wall Street on course to pull back from five-year peak, but Tokyo surges 1.9% after Japanese yen hits multiyear trough
Categories: Uncategorized

Goldman eyes higher shareholder returns

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The bank has previously said it is trimming costs and trying out new technology to offset lower revenues and new regulation
Categories: Uncategorized

(AP Photo/Pablo Martinez Monsivais)

Climate change, energy plans to get mention in SOTU address

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Since taking office four years ago, President Barack Obama has used his annual State of the Union addresses to tout America’s natural gas bounty and challenge the U.S. to take the lead developing new energy technologies. Don’t expect that tonight.
Categories: Politics/Policy
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World’s largest hospital complex depends on gas turbine

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GE’s aeroderivative turbines, assembled in Houston, have become increasingly popular as a reliable option for both regular and backup power for major facilities, including the Texas Medical Center. See how the technology works.
Categories: Electricity, Natural gas

Kengeter set to leave UBS in shake-up

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Baton passed as head of bank’s non-core and legacy portfolio to Sam Molinaro, according to an internal memo seen by the Financial Times
Categories: Uncategorized
Jim Borthwick, BP Helios Simulator operator, talks about drilling safety training. (Brett Coomer/Houston Chronicle)

BP displays new Gulf of Mexico safety system

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BP put its enhanced well monitoring capabilities in the Gulf of Mexico on display Tuesday to demonstrate the extra layers of safety the company put in place following the 2010 oil spill at its Macondo well.
(Photo: Flickr/Stacy Spensley

Policymakers tickle tastebuds with culinary treats from oil patch

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Anyone care for a sip of a frac cocktail? How about a graham cracker chilled by liquefied natural gas? Senators and witnesses at a hearing on natural gas on Tuesday recounted tasting such gastronomic delights derived from the oilfield amid a high-pressure debate on exporting fossil fuels.
Categories: General

G7 fails to defuse currency tensions

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Developed nations reaffirm commitment not to target exchange rates in move intended to end market volatility, but joint statement has opposite effect
Categories: Uncategorized

Opposition grows to Dell buyout deal

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T Rowe Price, second largest outside shareholder, is part of a growing group of investors who believe the proposed buyout does not reflect the value of the computer maker
Categories: Uncategorized

Pyongyang presents test as self-defence

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As North Korea seeks to intimidate the US, its most feared enemy, it is putting its most important alliance with China under growing strain
Categories: Uncategorized

Court bars BNY Mellon tax credits claim

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Bank expects to take an $850m charge after a ruling that prevents it from claiming millions of dollars worth of foreign tax credits, but says it will appeal
Categories: Uncategorized
(AP Photo/The News & Observer, Robert Willett)

NY town sued for banning ‘frack’ talk at meetings

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Two environmental groups filed a federal lawsuit on Tuesday against an upstate New York town, claiming it violated residents’ right to free speech by banning discussion of natural gas drilling at town board meetings.

Obama speech to focus on jobs and trade

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The US president’s speech to the nation will focus on domestic economic policy issues
Categories: Uncategorized

US approves $18bn Cnooc bid for Nexen

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By winning approval from Committee on Foreign Investment, Cnooc clears the final hurdle in its long quest to gain a major foothold in North America
Categories: Uncategorized
Headquarters of the state-run energy company China National Offshore Oil Corp. (Cnooc) in Beijing. (AFP/AFP/Getty Images)

CNOOC gets US approval for Nexen deal

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Canadian energy producer Nexen Inc. says a U.S. government agency has given the final approval required for its acquisition by China’s state-owned CNOOC.
Categories: Canada, Deals