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Moody's: Oil, Gas Loans Not Likely to Choke Big U.S. Banks
Friday, February 05, 2016 Losses from souring oil and gas loans at the largest U.S. banks are probably manageable, even if fuel prices remain low, according to Moody's Investors Service.
Hess Falls 11% on Stock Sales to Raise $1.43 Billion
Friday, February 05, 2016 Hess Corp, the New York-based oil and gas producer, says it will raise $1.43 billion from sales of stock and deposit shares after reporting its first annual loss since 2002.
Fairway Energy Finds 1 Million Barrels of Crude Storage in Houston
Friday, February 05, 2016 Early construction of Fairway Energy's underground crude storage caverns in south Houston yields unexpected capacity.
Oil Falls in Volatile Trade Ahead of Key Oil Producer Meeting
Friday, February 05, 2016 Oil prices end the week lower in choppy trading, snapping two weeks of gains, as speculation about possible deal between top oil producers clash with concerns about a growing supply glut.
Kemp: Obama's Budget Will Not Lead to $10 Oil Tax
Friday, February 05, 2016 President Barack Obama's proposed $10 per barrel oil tax, designed to address transportation issues, has no chance of becoming law says market analyst.
Obama Says US Should Take Advantage of Cheap Fuel With Oil Tax
Friday, February 05, 2016 President Obama defends his proposal for a $10-per-barrel tax on oil, says low gasoline prices provide an opportunity to finance transportation improvements.
Battle of Three Oil Benchmarks Upending Crude Flows Across Globe
Friday, February 05, 2016 The oil tanker Tofteviken setting sail from the UK this month carrying the first shipment of North Sea Ekofisk crude to the US Gulf Coast in five years.
Baker Hughes: US Oil Drillers Deepen Cuts in 7th Week of Declines
Friday, February 05, 2016 US energy firms cut oil rigs for a seventh week in a row to the lowest levels since March 2010, data shows.
ConocoPhillips Cuts Dividend, Lowers Budget as Low Crude Weighs
Thursday, February 04, 2016 ConocoPhillips lowers its capital budget for 2016 as the fall on crude oil prices takes its tool on the US's largest independent oil and gas company.
ConocoPhillips Cannibalizes Dividend as Occidental Holds Firm
Thursday, February 04, 2016 ConocoPhillips joins the ranks of oil explorers curtailing dividend payouts after suffering its steepest quarterly loss in almost a decade.
US House Republicans Vow to Kill Obama Oil Tax Idea
Thursday, February 04, 2016 Congressional Republicans promise to kill what they called an "absurd" idea by President Obama to levy $10-per-barrel oil tax.
Senate Blocks Energy Bill in Dispute Over Flint's Water
Thursday, February 04, 2016 Democrats block a bipartisan energy bill in the US Senate based on disagreements on aid for the lead-poisoned water system of Flint, Michigan.
Stronger. Safer. Together.
Thursday, February 04, 2016 It's during the hard times in life when you discover who will work with you as a team. You find out who is willing to do what’s necessary to be successful.
Investors, Analysts Pan ConocoPhillip's Decision to Slash Payout
Thursday, February 04, 2016 Investors punish ConocoPhillips after slashing its payout for the first time in 25 years due to low oil prices and an uncertain outlook.
Occidental Suffers Biggest Loss in 25 Years on Oil's Slump
Thursday, February 04, 2016 Occidental Petroleum posts its deepest quarterly loss in at least 25 years as plummeting crude prices destroy oil field value.
Crude Falls as Global Oil Supply Glut Outweighs Dollar Weakness
Thursday, February 04, 2016 Oil retreats as highest US crude supplies in more than 80 years outweigh the weakening US dollar.
Oil Tycoon Pickens Cashes Out on Oil, Awaits Time to Get Back
Thursday, February 04, 2016 Oil tycoon T. Boone Pickens, who made and lost fortunes targeting some of the largest U.S. crude explorers over the past 40 years, cashes out.
Q&A: The BSEE's Latest OCS Safety Program Initiative
Thursday, February 04, 2016 Rigzone speaks to BSEE Director Brian Salerno about the intricacies and implications of its latest pilot program, which is designed to improve offshore safety on the US Outer Continental Shelf.
Shell Posts Worst Performance on Oil Reserves Since 2004 Scandal
Thursday, February 04, 2016 Royal Dutch Shell says it depleted its oil and gas reserves faster than it replenished them in 2015, its poorest showing in 12 years.
Texas Toughness In Oil Patch Shows Why US Still Strong At $30
Thursday, February 04, 2016 Texas has a message for $30 crude doomsayers: Bring it on.
Obama To Seek New Tax On Oil In Budget Proposal
Thursday, February 04, 2016 US President Obama proposing a $10-a-barrel fee on oil in his budget plan next week in effort to boost investments in clean transportation.
Keystone Foes Take Aim at Obama's Atlantic Oil Drilling Plan
Wednesday, February 03, 2016 Keystone XL environmentalists trying to convince the White House to reverse decision to allow oil drilling off the Atlantic coast.
Marathon Petroleum's Profit Beats amid Crude Price Slump
Wednesday, February 03, 2016 Marathon Petroleum Corp reports a 77-percent fall in quarterly profit.
Macquarie Cuts Its Profit Forecast for Commodities Business
Wednesday, February 03, 2016 Macquarie cuts full-year forecast as falling oil prices and a selloff in US credit markets take a toll on client activity.
Texas Railroad Commission, Mexico Discuss Shale Development
Wednesday, February 03, 2016 Mexico's Ministry of Energy (SENER) is seeking to learn how it can replicate the success of South Texas' Eagle Ford shale.
Despite Extremely Bearish EIA Data, Oil Markets Gain on Weaker Dollar
Wednesday, February 03, 2016 A weaker dollar and relatively positive Chinese economic data lift prices.
Barometer of Shale Oil Industry's Health Warns Agony to Get Worse
Wednesday, February 03, 2016 Oilfield equipment giant National Oilwell Varco warns the pace of drilling and fracking will only slow more as 2016 drags on.
Kemp: Global oil demand growth is slowing going into 2016
Wednesday, February 03, 2016 The United States was one of the biggest sources of oil demand growth in 2015 but the outlook for 2016 is much more muted, forecasters say.
EIA: US Crude and Gasoline Stocks Swelled More Than Expected
Wednesday, February 03, 2016 US crude and gasoline stocks jumped more than expected last week, while distillate inventories fell, according to date from the EIA.
National Oilwell Posts 4th-Qtr Loss on $1.63B Charge
Wednesday, February 03, 2016 US oilfield equipment supplier National Oilwell Varco reports a loss for the fourth quarter of 2015.
Oilfield Services Provider Weatherford to Cut 6,000 Jobs
Wednesday, February 03, 2016 Weatherford says it will cut about 6,000 jobs during first half of 2016 in response to steep drop in oil prices.
Exxon's Profit Tumbles 58 Percent, Slashes Capex by One-Quarter
Tuesday, February 02, 2016 Exxon Mobil Corp reports its smallest quarterly profit in more than a decade, saying it will cut 2016 spending by one-quarter and suspend share repurchases as it copes with a prolonged downturn in crude prices.
Anadarko Says It May Cut Dividend Due to High Yield
Tuesday, February 02, 2016 Oil producer Anadarko Petroleum Corp may cut its dividend because its falling share price amid the oil price plunge has pushed the yield too high.
Texas Shale Drillers Lure $2 Billion in New Equity to Permian
Tuesday, February 02, 2016 Oil producers in West Texas, defying expectations they would fall victim to OPEC’s price war, are instead selling investors on the idea that they can still profit with prices below $35 a barrel.
Oil Sinks for 2nd Day on Fading Hopes of Output Deal, Weather
Tuesday, February 02, 2016 Oil slumps for the second straight day, with U.S. crude ending 5.5 percent lower, as hopes of a deal to curb one of the worst supply gluts in history continued to fade amid concerns that mild winter weather in the U.S. will dampen demand.
Oil Industry's Plan to Keep Investors Happy: Borrow More Money
Tuesday, February 02, 2016 The world’s largest oil companies have a plan to weather the worst market in over a decade: borrow more money.
E&P Lifeboat Hedges Fall to Lowest Rate in a Decade
Monday, February 01, 2016 Most upstream companies were hesitant to lock in hedges when oil was trading in the $50s, hoping for a rally to raise prices.
Anadarko Posts Record Loss in Industry's Worst Year Since 1986
Monday, February 01, 2016 Anadarko Petroleum Corp. posts its worst annual loss on record, underscoring the bleakest times for the oil industry since the producer spun off from Panhandle Eastern Pipe Line Co. during the 1986 price crash.
Shaking Things Up: BP Reorganizes its Senior Executives
Monday, February 01, 2016 BP announces a realigning of its senior leaders, which includes the appointment of upstream chief executive Lamar McKay to deputy group chief executive.
Oil, Gas Companies Cut Hundreds More Jobs in Texas
Monday, February 01, 2016 Four more oil and gas companies announce hundreds of layoffs in Texas.
Kemp: U.S. Economy Slows Sharply as Oil and Gas Slump Deepens
Monday, February 01, 2016 The U.S. economy ekes out anaemic growth in the final three months of 2015, and the struggling performance of the oil and gas sector was a major contributor to the slowdown.
Oil Sinks, Pressured by China, OPEC and Warmer U.S. Weather
Monday, February 01, 2016 U.S. crude oil prices slide as much as 7 percent, pressured by weak economic data from China, a U.S. forecast for mild weather and growing doubts that OPEC and non-OPEC producers would come together to reduce the swelling global supply glut
JIP Testing Potential of Microbial Oil Recovery Technology in Alberta
Friday, January 29, 2016 Glori officials are confident that its microbial oil recovery technology can enhance production at a heavy oil field in Alberta.
Oil Rises, Pares Losses in January on Hopes for Production Deal
Friday, January 29, 2016 Oil prices rise, rebounding more than 25 percent from 12-year lows hit last week and cutting losses for the month, on prospects of a deal between major exporters to cut production and curb one of the biggest supply gluts in history.
California Senators Seek Methane Leak Task Force in U.S. Energy Bill
Friday, January 29, 2016 The two U.S. Senators representing California say they will propose a federal task force to investigate the cause and response to the massive natural gas leak near Los Angeles.
Baker Hughes: U.S. Oil Drillers Cut Rigs for Sixth Straight Week
Friday, January 29, 2016 U.S. energy firms cut oil rigs for the sixth straight week, and are expected to shed more in coming weeks with three major U.S. shale oil companies slashing their spending plans after crude prices hit 12-year lows.
Lower Oil Prices Squeezing U.S. Manufacturing Sector
Thursday, January 28, 2016 New orders for long-lasting U.S. manufactured goods in December recorded their biggest drop in 16 months as lower oil prices and a strong dollar pressured factories, the latest indication that economic growth braked sharply at the end of 2015.
Oil Climbs On Hopes For Output Cut, Dollar Slips
Thursday, January 28, 2016 Crude oil prices rise to their highest in three weeks on hopes for a pact among oil producers to cut output, while the dollar slips on bets that interest rate hikes by the Federal Reserve would be more gradual than it has suggested.
Wood Mac: 2016 Promises Upstream Opportunities despite Tough Times
Thursday, January 28, 2016 A new report from oil and gas consultancy Wood Group shows that 2016 promises many opportunities around the world for the upstream sector in spite of challenging times.
Houston Metro Most Profitable for STEM Professionals
Thursday, January 28, 2016 Analysis by WalletHub finds that the Houston metropolitan area has the highest annual median wage for STEM workers.
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