Top News & Analysis Houston

  • *Saudi Arabia produces oil at record level in July- OPEC. Top exporter Saudi Arabia boosted its oil output to a record high in July of 10.67 million barrels-per-day, it told the Organization of the Petroleum Exporting Countries. OPEC said in its monthly oil report citing secondary sources its crude output, including Gabon, rose to 46,000 bpd in July to 33.11...

  • *Saudi Arabia produces oil at record level in July- OPEC. Top exporter Saudi Arabia boosted its oil output to a record high in July of 10.67 million barrels-per-day, it told the Organization of the Petroleum Exporting Countries. OPEC said in its monthly oil report citing secondary sources its crude output, including Gabon, rose to 46,000 bpd in July to 33.11...

  • "Oil eased lower as another round of proposed production freeze talks by OPEC failed to excite investors," ANZ Bank said. Venezuela, a member of the Organization of the Petroleum Exporting Countries, is trying to drum up support for a producer meeting to decide measures that would buoy oil prices. When producers last held such talks in April, OPEC members failed to...

  • "Oil eased lower as another round of proposed production freeze talks by OPEC failed to excite investors," ANZ Bank said. Venezuela, a member of the Organization of the Petroleum Exporting Countries, is trying to drum up support for a producer meeting to decide measures that would buoy oil prices. When producers last held such talks in April, OPEC members failed to...

  • HOUSTON, Aug 4- Shale oil bellwether EOG Resources Inc on Thursday boosted this year's fracking plans by 30 percent, saying it expected big returns on new wells even as oil dipped back to $40 a barrel. Houston- based EOG raised the number of wells it plans to bring online this year to 350 from 270, and lifted by 50 to 250 the number of wells it would drill, while keeping...

  • HOUSTON, Aug 4- Shale oil bellwether EOG Resources Inc on Thursday posted a quarterly loss but boosted this year's fracking plans by 30 percent, saying it expected big returns on new wells even as oil dipped back to $40 a barrel. Houston- based EOG raised the number of wells it plans to bring online this year to 350 from 270, and lifted by 50 to 250 the number of wells it...

  • HOUSTON/ NEW YORK, Aug 4- The long-planned and oft-delayed Sandpiper pipeline through the U.S. The project involves two pipeline legs stretching from North Dakota through Minnesota to Wisconsin. The Dakota Access Pipeline, slated to stretch from North Dakota to Illinois, is expected to come online in the fourth quarter.

  • HOUSTON/ NEW YORK, Aug 4- The long-planned and oft-delayed Sandpiper pipeline through the U.S. The project involves two pipeline legs stretching from North Dakota through Minnesota to Wisconsin. The Dakota Access Pipeline, slated to stretch from North Dakota to Illinois, is expected to come online in the fourth quarter.

  • HOUSTON, Aug 3- Targa Resources on Wednesday said three liquefied petroleum gas export cargoes were canceled out of its Galena Park terminal near Houston, Texas in the past two months amid fluctuating Asian demand and collapsing prices. In June, Targa sued China Soft Packaging Group in the Harris Country District Court in Texas over allegations it failed to...

  • CHICAGO/ NEW YORK, Aug 1- U.S. health officials warned pregnant women to avoid traveling to a neighborhood in Miami on Monday after Florida said it had 10 more cases of Zika caused by the bite of local mosquitoes, bringing the total to 14.. Rick Scott, the U.S. Centers for Disease Control and Prevention is sending in a special emergency response team of eight disease...

  • Diamond Offshore reported a net loss of $589.9 million, or $4.30 per share, for the quarter ended June 30. The company had a profit of $87.4 million, or 64 cents per share, a year earlier. The Houston- based company's total revenue fell 17.4 percent to $388.7 million.

  • The company reported a net loss of $589.9 million, or $4.30 per share, for the second quarter ended June 30. Diamond Offshore had a profit of $87.4 million, or 64 cents per share, a year earlier. The Houston- based company's total revenue fell 17.4 percent to $388.7 million.

  • July 28- National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, said demand rose for some of its products and services in North America in recent weeks, as drillers put rigs back to work. "Like others in our space, we believe we are seeing some isolated green shoots of activity," Chief Executive Clay Williams said on a post-earnings call.

  • Net loss attributable to National Oilwell was $217 million, or 58 cents per share, in the second quarter ended June 30, compared with a profit of $289 million, or 74 cents per share, a year earlier. Excluding items, the company lost 30 cents per share, smaller than the average analyst estimate of 32 cents loss, according to Thomson Reuters I/B/E/S.

  • WILMINGTON, Del., July 27- A U.S. Bankruptcy Judge Shelley Chapman in Manhattan said at a status conference on Wednesday she would approve the plan and was working on an opinion that would explain her reasoning, according to her courtroom deputy Greg White. The case has been unusually contentious, with Sabine and its lenders squaring off against the official...

  • CARACAS/ BOGOTA, July 26- Even for Venezuela's notoriously opaque economy, it was a sweetheart deal that went too far. Last August, state oil company Petroleos de Venezuela SA issued one of its largest tenders in recent years: a multi-billion dollar project in the Orinoco Belt, the world's largest crude reserve. Trenaco, headquartered in Switzerland but largely...

  • NEW YORK, July 26- U.S. oil prices topped $50 a barrel in June, boosting optimism a two-year price rout might end. "Right now, the only thing that would drive prices higher is robust demand," said John Paisie, executive vice president at Stratas Energy Advisors, a Houston- based consultancy. Instead of seeing $60 a barrel, which would support an increase in production, the...

  • NEW YORK, July 26- U.S. oil prices topped $50 a barrel in June, boosting optimism a two-year price rout might end. "Right now, the only thing that would drive prices higher is robust demand," said John Paisie, executive vice president at Stratas Energy Advisors, a Houston- based consultancy. Instead of seeing $60 a barrel, which would support an increase in production, the...

  • NEW YORK, July 22- U.S. independent refiners such as Valero Energy Corp and Phillips 66 look set to post another quarter of disappointing earnings, putting the industry on track for its worst year since the U.S. shale boom began in 2011.. High volumes of imports, combined with refiners switching to maximum gasoline output earlier than usual, resulted in...

  • MELBOURNE/ MILAN/ LONDON- July 21- Forced to shut its $54 billion Gorgon liquefied natural gas export plant twice in its first five months, Chevron Corp now faces calls from union officials for a probe into the site's safety. The Australian Manufacturing Workers' Union has told Reuters it has formally requested access to the site. "Chevron Australia is in...