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Top News & Analysis Houston

  • NEW YORK, March 5- The energy sector is the stock market's dud so far in 2017 after a banner performance in 2016, and the rest of the year may also be rocky for investors due to the unclear path for crude oil prices. But they have pared gains this year as a Nov. 30 agreement by the Organization of the Petroleum Exporting Countries to cut production has so far failed to...

  • NEW YORK, March 5- The energy sector is the stock market's dud so far in 2017 after a banner performance in 2016, and the rest of the year may also be rocky for investors due to the unclear path for crude oil prices. But they have pared gains this year as a Nov. 30 agreement by the Organization of the Petroleum Exporting Countries to cut production has so far failed to...

  • HOUSTON, March 3- Australian bank Macquarie Group Ltd is planning on buying Cargill Inc's global oil business, according to people familiar with the matter, marking the second energy business the global commodities trader has shed this year. In January, sources said that Cargill sold its U.S. gas and power business to commodities trader and investor TrailStone...

  • HOUSTON/ CALGARY, March 3- Doug Lucas stood outside a Houston energy conference early one morning last month handing out resumes and hoping to catch the eye of oil executives with a hand-written sign advertising "Petroleum Eng. Cut from oilfield services firm Halliburton Co in 2015, the 26- year-old temporarily turned to lawn care and cable-TV sales jobs while...

  • The Association of American Railroads said on Wednesday that the number of rail cars loaded with coal in February increased over 19 percent compared with the same month in 2016, the biggest percentage gain on record, according to AAR data to 1988.. "While it's an impressive gain, February 2017 was, unfortunately, also the second worst February in absolute terms...

  • The Association of American Railroads said on Wednesday that the number of rail cars loaded with coal in February increased over 19 percent compared with the same month in 2016, the biggest percentage gain on record, according to AAR data to 1988.. "While it's an impressive gain, February 2017 was, unfortunately, also the second worst February in absolute terms...

  • The Association of American Railroads said on Wednesday that the number of rail cars loaded with coal in February increased over 19 percent compared with the same month in 2016, the biggest percentage gain on record, according to AAR data to 1988.. "While it's an impressive gain, February 2017 was, unfortunately, also the second worst February in absolute terms...

  • The Association of American Railroads said on Wednesday that the number of rail cars loaded with coal in February increased over 19 percent compared with the same month in 2016, the biggest percentage gain on record, according to AAR data to 1988.. "While it's an impressive gain, February 2017 was, unfortunately, also the second worst February in absolute terms...

  • March 1- A federal judge in Houston has thrown out a lawsuit accusing UBS Group AG of hiding fraud by its client Enron Corp from retail customers, a decision that may end a 15- year legal battle stemming from the energy company's December 2001 bankruptcy. District Judge Melinda Harmon said UBS PaineWebber brokerage customers failed to show that the Swiss bank...

  • March 1- A federal judge in Houston has thrown out a lawsuit accusing UBS Group AG of hiding fraud by its client Enron Corp from retail customers, a decision that may end a 15- year legal battle stemming from the energy company's December 2001 bankruptcy. District Judge Melinda Harmon said UBS PaineWebber brokerage customers failed to show that the Swiss bank...

  • CALGARY, Alberta, Feb 28- TransCanada Corp has suspended a $15 billion NAFTA suit filed against the United States over the Keystone XL pipeline, the company said on Tuesday, after U.S. The project has received regulatory approval and government backing in Canada, but in the United States, environmentalists had campaigned against it for more than seven years.

  • *UAE and Iraq pledge to catch up with output cut targets. *Iran, Libya and Nigeria remain exempt from OPEC production cuts. NEW YORK, Feb 27- Oil prices ended little changed on Monday as the prospect for U.S. crude production to continue growing offset reports of high compliance to the OPEC production cut agreement and record bullish bets that prices would rise...

  • *Expects 2017 budget of $3.1 bln vs $1.9 bln last year. *Adj. loss of 6 cents/ shr vs est. profit of 7 cents. The company said on Thursday it would raise its capital budget to $3.1 billion for 2017, from $1.9 billion last year, with nearly two-thirds earmarked for the Permian Basin in Texas.

  • The number of demonstrators had dwindled from the thousands who poured into the camp starting in August to oppose the pipeline that critics say threatens the water resources and sacred land of the Standing Rock Sioux Tribe. The 1,170- mile line, built by Energy Transfer Partners LP, will move crude from the shale oilfields of North Dakota to Illinois en route to...

  • HOUSTON, Feb 24- Refiners and pipeline shippers in the Salt Lake City area are facing new delays obtaining crude oil after a pipeline outage last week was followed by snow on Friday that made it difficult to deliver much-needed oil by truck. The 16- inch Wahsatch pipeline can carry roughly 100,000 barrels per day of crude from locations near Evanston, Wyoming, to...

  • NEW YORK/ HOUSTON, Feb 24- Traders are turning the spigots to drain the priciest storage tanks holding U.S. crude stockpiles as strengthening markets make it unprofitable to store for future sale and cuts in global production open export opportunities. From Houston through Louisiana to floating storage in the Gulf of Mexico, traders are starting to ship crude...

  • *Plans to hire 10 staff in Singapore, Europe, Houston. The utility company's trading arm plans to hire 10 people in Singapore, Europe and Houston to move growing LPG supplies from the United States to other parts of the world, Engie Energy Management's CEO Eric Simon told Reuters. The United States has become the top exporter of LPG, already sending record volumes to...

  • HENDERSON, Louisiana, Feb 22- When Hope Rosinski's father gave her a six-acre plot in Louisiana more than a decade ago, she was surprised to find oil and gas pipelines crisscrossing the property. Opposition to the company's planned extension of the Bayou Bridge pipeline has made Louisiana bayous the latest battleground in a nationwide war against new pipeline...

  • Results were hurt by lower volumes, weaker prices and losses on hedging, and shares in Chesapeake were down more than 7 percent around 1:00 p.m. EDT at $5.49. Chief Executive Doug Lawler said on a conference call, "We will be working to accelerate our stated debt reduction target of $2 billion to $3 billion over the next few years through additional asset sales."

  • Feb 23- U.S. natural gas producer Chesapeake Energy Corp on Thursday posted a smaller fourth-quarter loss than a year earlier, when it took huge charges to write down the value of some oil and gas assets. At noon, shares in Chesapeake were down more than 7 percent at $5.49. Chief Executive Doug Lawler said on a conference call, "We will be working to accelerate our...