Archives for October 2016
FMC Technologies cuts 1,000 jobs, more on the way
Oilfield equipment maker FMC Technologies warned that more job cuts are on the way through the end of the year after eliminating another 1,000 jobs in the third quarter. Houston-based FMC, which focuses primarily on...
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Market Currents: Record OPEC oil exports to China & India
Oil is closing in on the highs for the year in response to a surprise draw to crude inventories (all paths lead back to energy, all inventory surprises lead back to imports), while OPEC rhetoric...
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Crude prices climb as U.S. stockpile falls
HOUSTON – The nation’s crude stockpile sank by 5.2 million barrels last week, the Energy Information Administration said Wednesday, as imports declined by nearly 1 million barrels a day. “It’s a fairly sizable amount, and...
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Oil companies keep paying for Permian land; ‘High-water numbers,’ analyst says
Oil companies continue buying acreage in West Texas’s prolific Permian Basin. This time, it was Denver’s SM Energy, announcing Tuesday it was picking up 35,700 acres in Howard and Martin counties, north and west of...
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Compensation for solar power not enough, nonprofit report finds
Utility customers around the country who rely on individual solar power generation could be under-compensated by their local utility companies, according to research compiled by Environment Texas and released this week. Forty-one states in the U.S. offer...
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