Archives for 2016
Shell selling Gulf oil assets for $425 million
Royal Dutch Shell agreed to sell its Brutus/Glider operation in the Gulf of Mexico for $425 million as Chief Executive Officer Ben Van Beurden seeks to resuscitate an explorer dinged by the lowest profits in...
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Oil discoveries at 70-year low signal supply shortfall ahead
Explorers in 2015 discovered only about a tenth as much oil as they have annually on average since 1960. This year, they’ll probably find even less, spurring new fears about their ability to meet future demand. With oil...
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Federal offshore chief calls for urgency in bolt failure inquiry
The federal government’s top offshore drilling regulator said Monday that regulators and the oil and gas industry need to figure out why bolts are failing on undersea equipment used in offshore drilling “sooner rather than...
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Permian pipeline firms get time to catch up as production slows
Oil production levels have fallen this year, even in West Texas’ fertile Permian Basin. But the slowdown has given pipeline operators there the chance to catch up after years of overwhelming oil volumes, according to a Morningstar...
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Texas gasoline prices climb above $2, at least temporarily
The average price of a gallon of regular, unleaded gasoline in the Houston region is up 5 cents in the past week to $2.02 on Monday, which is the same cost as the statewide average....
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