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Oil prices settle above $50 a barrel
by Collin Eaton
30 Mar 2017 at 1:02pm
U.S. oil prices settled above $50 a barrel on Thursday after nearly three weeks of trading below that level, which analysts consider a psychological threshold for the oil industry. Traders reacted to media reports that Kuwaiti officials signaled OPEC is considering continuing oil-production beyond this summer, when agreements between OPEC countries and non-OPEC counterparts expires. ...

Crude climbs back towards $50 a barrel on rising U.S. fuel demand
by Bloomberg
30 Mar 2017 at 7:02am
Oil climbed towards $50 a barrel as signs of growing U.S. fuel demand means more refinery purchases seen helping ease a glut in American crude stockpiles. Futures in New York advanced after rising 2.4 percent Wednesday, when U.S. government data showed that gasoline inventories dropped more than expected. Additionally, refineries boosted the amount of crude ...

Solar power jobs on the rise in Texas
by ryanhandy
30 Mar 2017 at 6:00am
Solar industry jobs in Texas grew by 34 percent last year, giving the state the third largest number of solar jobs in the nation, according to a study released Wednesday by the Solar Foundation, an industry research group. Solar jobs include manufacturing and installation of solar panels, sales and distribution and project development. Texas has9,396 ...

House votes to limit EPA to science based on ?public data?
by James Osborne
29 Mar 2017 at 2:34pm
Legislation putting stricter limits on what scientific findings the U.S. Environmental Protection Agency can and can not useto justify its regulationspassed the Republican-controlled House Wednesday. The bill, called the HONEST Act, would require the agency to use only scientific findings for which the underlying data is publicly available, potentially leaving out medical studies that do ...

ConocoPhillips to sell Canadian assets for $13.3 billion
by Collin Eaton
29 Mar 2017 at 2:07pm
ConocoPhillips plans to sell its stake in a Canadian oil sands project and separate natural gas assets for $13.3 billion to Canadian producer Cenovus Energy, the company said Wednesday. The Houston driller is selling its 50-percent share in the Forest Creek Christina Lake oil sands partnership, a 21-year-old project that pumps steam underground to extract ...

Rockwater Energy buys Crescent Companies from White Deer Energy
by Jordan Blum
29 Mar 2017 at 8:55am
Houston’s Rockwater Energy Solutions is buying Crescent Companies in a $207 million deal to create a larger water management company serving the oil and gas sector. Rockwater is acquiringOklahoma City-based Crescent from Houston-based private equity firm, White Deer Energy. Another Houston private equity firm, SCF Partners, owns a majority of Rockwater. The companiesare oilfield services ...

Fed survey: Texas oil producers whittle down costs, boost output
by Collin Eaton
29 Mar 2017 at 8:03am
In Texas and Oklahoma, oil companies can wring money out of newly drilled wells in major basins for less than $50 a barrel, a new Dallas Fed survey says. As producers cut down on drilling time and pump greater quantities of crude, break-even costs in active U.S. oil fields have dropped 6 percent over the ...

Fuel withdrawals offset small crude oil inventories build
by Jordan Blum
29 Mar 2017 at 7:53am
The nation’s record-high stockpile of crude oil rose by another 900,000 barrels last week, but that was more than offset by large draw downs in fuel inventories. Gasoline stockpiles fell by 3.7 million barrels, while inventories for distillate fuel oil, which is used to make diesel and heating oils, dipped by 2.5 million barrels, according ...

World?s largest beer maker commits to renewables
by David Hunn
29 Mar 2017 at 6:32am
The world?s largest beer maker, Anheuser-Busch InBev, announced on Tuesday that 100 percent of its purchased electricity will come from renewable sources by 2025. Even as President Donald Trump begins rolling back climate regulations, AB InBev said it will shift 6 terawatt-hours of electricity a year to renewable sources — the equivalent of 400 soccer ...

Baker Hughes offering buyouts in Europe
by Jordan Blum
29 Mar 2017 at 4:46am
Houston oilfield services giant Baker Hughes is offering buyout packages to its Norway employees to help cut costs as the international energy sector continues to languish. The move comes while Baker Hughes prepares to combine with a unit of General Electric in a $32 billion merger that would create an expanded Baker Hughes. The deal ...

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