Archives for 2017
Enbridge to cut 1,000 jobs in Houston, Canada after Spectra merger
Canadian pipeline giant Enbridge is cutting 1,000 jobs, largely in Houston and Calgary, after completing its $28 billion acquisition of Houston’s Spectra Energy this year. Spectra CEO Al Monaco this month said Enbridge would leave...
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Rival drilling tycoons place bets on offshore-rig recovery
Billionaire John Fredriksen and his former top adviser Tor Olav Troim may not see eye to eye anymore, but they agree on this: it’s time to buy offshore rigs again. Foreseeing a boom in oil...
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Market Currents: Saudi oil export loadings swing west once more
Crude prices are coming under selling pressure once again, as oversupply concerns dwarf OPEC production cut expectations. As equity markets join oil prices in charging lower, hark, here are six things to consider in oil...
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Growth of EVs hits petrochemicals, not just oil
The potential growth of electric vehicles and driverless cars wouldn’t only hurt oil and gasoline demand, it could also put a dent in the growing petrochemical sector. Vehicles’ bumpers, consoles, rubbers, paints and much more...
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Marathon Oil to buy Permian Basin acreage for $700 million
Marathon Oil Corp. says it will pay $700 million for 21,000 net acres in the Northern Delaware Basin in New Mexico, its second deal in the region in less than two weeks. The Houston driller...
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