Archives for June 2016
Oil rig count makes first big jump of 2016
The number of rigs actively drilling for oil in the U.S. made its first sizable increase of the year this week now that the price of oil has increased for more than three months, according...
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Kinder Morgan cuts more than 100 jobs
The job cuts, which include 37 Houston positions, come after Kinder Morgan reduced its shareholder dividend and project backlog in recent months in order to shrink costs and increase cash flow. Kinder Morgan will still...
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Exxon CEO says Argentine shale project may top $10 billion
Exxon Mobil Corp. may invest more than $10 billion as it transplants the U.S. shale-drilling model to Argentina’s Vaca Muerta region in the next few decades, Chairman and Chief Executive Officer Rex Tillerson said Thursday....
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Market Currents: Iranian crude oil exports up to 2.5 million barrels per day
Seventy-four years after the birth of Curtis Mayfield, and oil prices are struggling to move on up, despite a wilting dollar due to a shocker of a U.S. jobs report. The combo of yesterday’s bearish-tilted...
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Market Currents: Oil rallies on EIA report, ignores OPEC
Sixty-three years to the day after the coronation of Elizabeth as Queen of England at Westminster Abbey, OPEC once again tries to prove itself as kingpin of the oil market. With an acronymtastic day today,...
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