Archives for July 2016
Drillers closing financial gap with spending cuts
HOUSTON – After two years of deep spending cuts, U.S. oil companies have reduced a big gap between the cash they spend on drilling and the income from producing oil. Domestic drillers outspent their operating...
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Westlake Chemical takes $40 million hit on plant shutdown
Westlake said Monday it will report a $40 million financial loss for the lost income during the downtime. The Calvert City, Kentucky plant has sat offline since an unexpected shutdown, which began June 1, halted...
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Prices at the pump continue to fall
The average price of a gallon of regular unleaded gasoline dipped to $2.03 in the greater Houston area to $2.20 across the U.S. as oil prices remain low, and we move further from the Fourth...
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Feds postpone oil land sale in New Mexico after environmental protests
HOUSTON – After taking heat from environmental groups, regulators have put off the sale of almost 13,000 acres of federal oil and gas land in New Mexico for about two months. The Bureau of Land Management, which collected...
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On ‘life-support,’ Texas clean-coal project gets reprieve
A Texas clean-coal project was given more time to persuade the Obama administration to keep backing it, even after Summit Power missed a midnight deadline to line up financing and a government investigator warned the...
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