News
BP 2nd-quarter earnings fall 45 percent
BP posted a 45 percent slump in earnings, pointing to a poor set of results from the industry as oil production barely breaks even and profits from refining sputter. The U.K. company, the first oil...
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The high cost of layoffs, for workers and companies
Energy companies lay off thousands of people, but they may not understand or accurately calculate the costs of ramping up employment when business conditions rebound, some experts say. Just last week, four Houston-based energy companies...
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Shell to cut 25 percent of deep-water Gulf jobs
HOUSTON — Royal Dutch Shell says it’s cutting one-quarter of its deep-water Gulf of Mexico workers, the oil company’s latest bid to reign in costs amid anemic crude prices. The move to shed 200 out...
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Do rig counts still matter?
Counting the number of drilling rigs in the oil patch used to be a good predictor of how many new barrels of crude the energy industry could harvest over a stretch of time. Now the...
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Gasoline prices likely to continue their decline
The Houston region last saw an average gasoline cost of $2.00 in May, and prices surged upward through mid-June because of strong demand during the busy summer driving season. Also, oil prices increased in most...
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