News
Natural gas prices dip as U.S. inventory draw disappoints traders
Domestic natural gas prices fell on Thursday as the Energy Department’s report on the nation’s commercial gas inventories disappointed traders. The Energy Information Administration said gas stocks dropped by 53 billion cubic feet last week,...
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Diamond Offshore gets financial reprieve from Brazilian court
A Brazilian appellate court ruled that state-owned Petrobras illegally canceled a contract with Diamond Offshore Drilling, offering a financial reprieve to the Houston company. The court upheld an injunction ruling that the scandal-plagued and financially...
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Wall Street keeps faith in oil recovery
Prices have sunk, stockpiles ballooned and doubts about OPEC’s effectiveness grown, yet Wall Street hasn’t lost faith in oil’s recovery. Crude fell below $50 a barrel in New York last week on signs that OPEC’s...
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Enterprise buys up bankrupt Azure Midstream assets
Houston’s Enterprise Products Partners said it won an auction to buy the natural gas pipeline assets of the bankrupt Azure Midstream with a bid of $189 million. The auction win gives Enterprise an expanded presence in...
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The unmanned offshore production rig: A race to the bottom
The new frontier of offshore oil production is moving the above-water platform underwater. Two companies are in a race to engineer and produce the breakthrough. The German industrial technology company Siemens Corp. is building one...
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