News
Market Currents: U.S. oil imports from OPEC lag this month
Crude is heading lower today after a solid build to crude inventories from the weekly EIA inventory report. As U.S. inventories climb to a new record high, crude is having a tough time believing that...
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Houston rejects CenterPoint’s proposed gas rate increase
The city of Houston voted on Wednesday to reject a gas utility rate increase proposed by CenterPoint Energy last year. CenterPoint has asked to raise an additional $31 million come from around 1.3 million customers...
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Kinder Morgan announces 430-mile, Permian gas pipeline
Houston’s Kinder Morgan said Wednesday it plans to build a 430-mile natural gas pipeline from West Texas’ Permian Basin to the Corpus Christi region. The project is designed to capitalize off of increasing Permian oil...
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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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