Archives for 2016
Two more rigs in U.S. oilfields; third increase in a row
Two more rigs crawled onto U.S. oilfields this week, the third increase in a row and the eighth in 10 weeks, adding to the oil industry’s slow recovery. Oil prices crested $50 on Thursday for...
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Chevron Phillips’ $6 billion expansion nears completion
Chevron Phillips’ “U.S. Gulf Coast Petrochemicals Project” is now more than 80 percent complete, although it still won’t be fully up and running for almost 12 more months. The effort involves building a massive ethane...
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IHI E&C terminates dozens of Houston employees this week
The energy engineering and construction company houses its IHI E&C subsidiary in Houston’s Energy Corridor. Fewer than 100 of the company’s roughly 400 Houston-area jobs were cut, although IHI declined to provide specific numbers. Source:...
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Oil settles above $50 a barrel for first time since June
Crude oil settled above $50 a barrel for the first time since June, pushed higher by solid demand, falling U.S. stockpiles of petroleum products, and OPEC’s promise to cut production. West Texas Intermediate, the U.S....
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Market Currents: 33 U.S. LNG cargo exports and counting…
Happy Nonfarm Friday Eve! Prices are pushing on for yet one more day, under the gravitational pull of another informal producer meeting – this time in Istanbul next week for certain OPEC members and Russia....
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