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  • Feb 13- The United Steelworkers union and refinery owners were set to resume contract negotiations next week as the largest U.S. refinery strike since 1980 reached its 13th day on Friday. "We're still fulfilling the information request from the USW and looking forward to resuming negotiations next week," said Ray Fisher, spokesman for Shell Oil Co, the U.S. arm of...

  • US oilfield jobs cull gains pace, more pain ahead Friday, 13 Feb 2015 | 11:13 AM ET

    Feb 13- When Ian Sandlin was laid off last week after 13 months working on oil rigs in southeast Texas, he was surprised to have lasted that long. The 27- year-old Houston native is among thousands of workers caught in an accelerating cull of oil field jobs across the once booming U.S. oil industry. Interviews with more than a dozen oil workers and job recruiters...

  • Houston housing awaits spring chill Friday, 13 Feb 2015 | 10:14 AM ET
    A file photo of a house for sale with an owner finance available sign in Houston.

    Houston's hot housing market hasn't seen any impact from lower oil prices yet, but everyone is expecting it to cool at some point.

  • Construction pushes ahead in Houston  Friday, 13 Feb 2015 | 9:20 AM ET

    Energy Corridor General Manager Clark Martinson discusses the effects of lower oil prices on the Houston real estate market with CNBC's Brian Sullivan.

  • HOUSTON, Feb 12- The largest U.S. refinery strike since 1980 entered its 12th day on Thursday with no talks scheduled until next week and industry representatives were weighing a union counterproposal, said a labor spokeswoman. Also on Thursday, Tesoro Corp Chief Financial Officer Steven Sterin told analysts during an earnings conference call that...

  • *Q4 adjusted loss 23 cents/ share vs est 32 cents. Feb 12- Rig contractor Hercules Offshore Inc said it slashed its workforce by nearly a third and cut salaries, as the company keeps a tight leash on costs to counter a fall in demand due to a slump in crude oil prices. Oil and gas producers, drillers and services providers such as Cenovus Energy Inc, BG Group Plc,...

  • U.S. refinery strike enters 12th day, no talks scheduled Thursday, 12 Feb 2015 | 12:36 PM ET

    HOUSTON, Feb 12- The largest U.S. refinery strike since 1980 entered its 12th day on Thursday with no talks scheduled between union and industry representatives until next week, and at least one refinery will remain out of production for the duration of the work stoppage. Tesoro Corp Chief Financial Officer Steven Sterin told analysts during an earnings...

  • *Q4 adjusted loss of 23 cents/ share vs estimate of 32 cents. *Company had cut 15 pct jobs, shut 4 rigs in Gulf of Mexico. Larger rival Diamond Offshore Drilling Inc and land driller Patterson-UTI Energy Inc have warned of a challenging 2015..

  • Feb 12- Drilling rig contractor Hercules Offshore Inc reported a bigger quarterly loss as the company took an impairment charge and demand fell due to weak crude oil prices. Hercules Offshore's fourth-quarter revenue fell 24 percent to $178.7 million. The net loss attributable to Hercules Offshore widened to $154.1 million, or 96 cents per share, in the...

  • Hercules Offshore loss widens on charges, weak demand Thursday, 12 Feb 2015 | 7:15 AM ET

    Feb 12- Drilling rig contractor Hercules Offshore Inc reported a bigger quarterly loss, hurt mainly by an impairment charge of $117.0 million related to cold stacking of five rigs. The Houston, Texas- based company's fourth-quarter revenue fell 24 percent to $178.7 million as utilization rates for its offshore rigs fell due to a more than 50 percent drop in...

  • Power generators used an average 23.1 billion cubic feet per day of gas in January 2015, up 13 percent from 20.5 bcfd in January 2014, according to Thomson Reuters Analytics. Northeast, have provided gas-fired plants with a significant advantage over coal despite warmer temperatures and lower demand for heating this winter, "said Kyle Cooper at IAF Advisors, a...

  • U.S. burns record natgas to generate power in January Tuesday, 10 Feb 2015 | 9:24 AM ET

    Power generators used an average 23.1 billion cubic feet per day of gas in January 2015, up 13 percent from the 20.5 bcfd average in January 2014, according to Thomson Reuters Analytics. Northeast, have provided gas-fired plants with a significant advantage over coal despite warmer temperatures and lower demand for heating this winter, "said Kyle Cooper at IAF...

  • HOUSTON, Feb 9- U.S. oil and gas producer SandRidge Energy Inc plans to slash its rig count in Oklahoma and Kansas by nearly 75 percent, according to a document obtained by Reuters. The document makes no mention of rigs in West Texas, where the company also has acreage. It laid off 25 workers in West Texas in January, state data shows.

  • Feb 9- Rig contractor Diamond Offshore Drilling Inc reported a 7 percent drop in quarterly revenue as demand dropped due to weak oil prices, and said it would not pay a special dividend, a first since 2006.. The Houston- based company's revenue fell to $675.3 million in the fourth quarter from $726.5 million a year earlier. The company's net income rose to $98.8...

  • BOSTON, Feb 8- These are nervous times at the top of North America's oil companies. "2014 is going to look like a pretty good year for most," said Mike Halloran, senior partner and executive compensation specialist at the Dallas office of consulting firm Mercer. In dollar terms, energy company CEOs made an average of $7.3 million in 2013 compared with an average of $5.3...

  • Feb 6- In April 2011, two years before their prices sank, a slew of bond funds that were being sold by UBS's Puerto Rico arm appeared to its brokers to be such risky investments that they balked at promoting them to their clients. Their views were unacceptable to Miguel Ferrer, then the chairman of UBS Financial Services Inc of Puerto Rico, a unit of UBS AG.

  • HK jewelry giant branches into 'black gold' Thursday, 5 Feb 2015 | 3:26 AM ET

    BEIJING, Feb 5- Hong Kong- based Chow Tai Fook group, owner of the world's biggest jewelry company, is making an unlikely foray into China's oil trading business, according to several traders recruited by the group. China's state-controlled oil sector is subject to heavy restrictions, but independent companies are expecting Beijing to lift at least some of the...

  • HK jewellery giant branches into 'black gold' Thursday, 5 Feb 2015 | 3:26 AM ET

    BEIJING, Feb 5- Hong Kong- based Chow Tai Fook group, owner of the world's biggest jewellery company, is making an unlikely foray into China's oil trading business, according to several traders recruited by the group. China's state-controlled oil sector is subject to heavy restrictions, but independent companies are expecting Beijing to lift at least some of the...

  • HOUSTON, Feb 4- The United Steelworkers union said a new contract offer was made by lead oil company negotiator Royal Dutch Shell Plc on Wednesday night as a strike by U.S. refinery workers ended its fourth day. "The USW has received an offer and will respond after consideration of the offer tomorrow," USW spokeswoman Lynne Hancock said. About 4,000 workers at nine...

  • HOUSTON, Feb 4- Negotiations will resume on Wednesday between Royal Dutch Shell Plc and union leaders as they haggle over a new wage contract for striking U.S. refinery workers, the company said. The two camps have been in a stalemate since the United Steelworkers union called walkouts early on Sunday at nine plants with about 10 percent of U.S. refining capacity,...