Top News & Analysis New Mexico

More

  • Jan 25- Sprint Corp has axed at least 2,500 jobs across six customer care centers and its Kansas headquarters as part of its plan to cut $2.5 billion in costs, a company spokeswoman said on Monday. The job cuts, mostly in customer care, also include 574 positions at Sprint's headquarters at Overland Park, Kansas, Sprint spokeswoman Michelle Boyd said.

  • Some states dependent on energy revenues are facing strained budgets due to low oil prices, according to an S&P report.

  • WASHINGTON, Jan 20- New Mexico said on Wednesday it is suing Volkswagen AG and its luxury units over the German automaker' s excess diesel emissions, joining the states of Texas, West Virginia and Harris County, Texas. New Mexico Attorney General Hector Balderas said the state sued VW, Porsche, Audi and their U.S. subsidiaries for violations of the state's air...

  • WASHINGTON, Jan 15- The Obama administration, in the first major review of the country's coal program in three decades, on Friday ordered a pause on issuing coal-mining leases on federal land as part of new executive actions to fight climate change. Most leases are on public land in Western states, primarily Wyoming, along with Colorado, New Mexico and Utah.

  • NEW YORK, Jan 15- During the U.S. shale boom, fortune favored the bold drillers that discovered and pumped oil fastest. Using derivative transactions known as swaps and collars, the Texas- based firm locked in a minimum price for 85 percent of this year's production. As a result, it gets $60 per barrel for a large chunk of its output while many rivals are selling at the...

  • WASHINGTON, Jan 14- The Obama administration is due on Friday to announce an overhaul of how the United States manages coal development on federal land, and freeze new coal mining, according to government and conservationist sources, in a further move to confront climate change. Interior Secretary Sally Jewell is expected to make the announcement at midday...

  • WASHINGTON, Jan 14- The Obama administration is due on Friday to announce an overhaul of how the United States manages coal development on federal land, and may freeze new coal mining, according to government and conservationist sources, in a further move to confront climate change. Interior Secretary Sally Jewell is expected to make the announcement on Friday...

  • NEW YORK, Jan 12- U.S. oil stumbled below $30 for the first time in 12 years to levels that threaten the survival of many U.S. shale firms, spur more belt-tightening by oil majors and spell more pain for crude-producing nations and regions. Some analysts warned of $20 a barrel; Standard Chartered said fund selling may not relent until it reaches $10.

  • NEW YORK, Jan 11- U.S. shale oil production is expected to fall for a seventh month in a row in February, declining at about the same rate as the month before as drillers manage to eke out a few more barrels from each new well, U.S. data showed on Monday. Total output was set to decline by 116,000 bpd to 4.8 million bpd in February compared with January, a U.S. Energy...

  • Milk prices to rise following freak blizzard

    Dairy farmers in Texas and New Mexico say consumers can expect a milk shortage.

  • HOUSTON, Dec 28- A snowstorm dumped around two feet of snow in parts of the Permian Basin in West Texas and New Mexico over the weekend, crimping some crude output and leaving roads dangerous for trucks heading to and from oil wells, forecasters and companies said on Monday. Snow had stopped accumulating by Monday afternoon but "travel continues to be impacted as...

  • NEW YORK, Dec 21- Lower tax revenues because of job losses in energy and related sectors due to the collapse in oil prices will hit the budgets of oil-producing states through the remainder of this fiscal year and next, Moody's Investors Service said on Monday. Moody's analysts expect to see a similar dynamic to Oklahoma in Alaska, Louisiana, New Mexico, North...

  • Drillers added 17 oil rigs in the week ended Dec. 18, bringing the total up to 541, oil services company Baker Hughes Inc said in its closely followed report. In the minutes after Baker Hughes released the report, U.S. crude futures fell 20 cents to $34.29 a barrel, the lowest level since February 2009, before paring losses. U.S. crude futures for next year were trading...

  • WASHINGTON, Dec 18- The U.S. Congress voted on Friday to repeal the 40- year-old ban on exporting U.S. crude oil in an energy policy shift sought by Republicans as part of a bipartisan deal that also provided unprecedented tax incentives for wind and solar power. The Senate, on a 65-33 vote, passed a $1.1 trillion government spending bill that included the measure to...

  • WASHINGTON, Dec 17- Privately held U.S. coal company Bowie Resource Partners wants taxpayers to guarantee more than $360 million in future cleanup costs for mines in New Mexico and Colorado, U.S. officials said, a move that analysts estimate would save the company $6 million a year. Coal companies are required by U.S. regulations to rehabilitate the environment...

  • NEW YORK, Dec 16- U.S. top-rated municipal bonds were little changed on Wednesday after the Federal Reserve raised interest rates for the first time in nearly a decade and bond investors adjusted to the likelihood of more increases next year. "We are on a new trajectory and potentially a totally new economic environment," said Jim Colby, chief municipal strategist...

  • Drillers removed 21 oil rigs in the week ended Dec. 11, bringing the total rig count down to 524, the least since April 2010, oil services company Baker Hughes Inc said in its closely followed report. U.S. crude futures fell as low as $35.35 a barrel on Friday, its lowest level since February 2009, after the International Energy agency warned global oversupply could...

  • A floor hand helps line up a pipe while drilling for oil in the Bakken shale formation near Watford City, North Dakota.

    A number of drillers saw their stock rise on Tuesday despite oil prices hitting their lowest levels since 2009.

  • NEW YORK, Dec 4- The U.S. Supreme Court on Friday agreed to hear Puerto Rico's bid to reinstate a law that would allow restructuring of the U.S. territory's public agencies as the Caribbean island grapples with its huge debt load. DAVID TAWIL, PRESIDENT, MAGLAN CAPITAL, NEW YORK. "I think that Congress is not about to do anything.

  • On Friday, OPEC decided to keep production near record highs despite depressed prices, as a way to boost market share by forcing rivals to reduce output. Drillers removed 10 oil rigs in the week ended Dec. 4, bringing the total rig count down to 545, the least since June 2010, oil services company Baker Hughes Inc said in its closely followed report.