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Top News & Analysis Houston

  • NEW YORK, Aug 22- A flurry of departures across the U.S. and Canadian units of Chinese state energy firm PetroChina Co Ltd have sparked speculation that the oil trader is reducing its presence in North America, even though the company says it is committed to the region. Nearly a dozen sources in New York, Calgary, Houston and Singapore, including current and former...

  • Aug 21- Exxon Mobil Corp said on Monday a fire broke out at its refinery in Rotterdam but that there were no injuries and most of the facility remained operational. Exxon last year started a $1 billion, three-year expansion of the Rotterdam refinery to boost production of lubricants and other chemicals. Shares of Exxon Mobil were unchanged on the New York Stock...

  • Aug 21- U.S. biofuels regulations, which mandate mixing corn-based ethanol into gasoline, have lately drawn together a diverse cast of political opponents. They include an upstart gas station owners' trade group, a former Obama administration environmental adviser and billionaire activist investor Carl Icahn, who owns a refiner and served as U.S.

  • HOUSTON _ PrimeEnergy Corp. on Friday reported second-quarter earnings of $361,000. On a per-share basis, the Houston- based company said it had profit of 12 cents. PrimeEnergy shares have fallen 11 percent since the beginning of the year.

  • Among major oil- and gas-producing states, California gained two rigs and New Mexico increased by one. North Dakota declined by two rigs while Alaska, Louisiana, Oklahoma and Utah were down by one apiece. Arkansas, Colorado, Ohio, Pennsylvania, Texas, West Virginia and Wyoming were all unchanged.

  • MEXICO CITY, Aug 17- A tanker carrying a cargo of about 1 million barrels of Venezuelan heavy crude has been stranded for more than a month off the coast of Louisiana for lack of a bank letter of credit to discharge, three sources have told Reuters. Major banks are cutting exposure to Venezuela as a result of political upheaval in the South American country.

  • HOUSTON _ Stage Stores Inc. on Thursday reported a fiscal second-quarter loss of $6.3 million, after reporting a profit in the same period a year earlier. Stage Stores expects full-year results to range from a loss of $1.35 per share to a loss of 90 cents per share. Keywords: Stage Stores, Earnings Report.

  • JEFFERSON CITY, Mo.— Missouri utility regulators on Wednesday rejected a proposed high-voltage power line to carry wind power across the Midwest to eastern states, delivering a significant setback to developers of one of the nation's longest transmission lines. The 780- mile-long line would run from wind farms in western Kansas through Missouri and...

  • WASHINGTON— Homebuilders pulled back sharply on construction of apartment complexes in July, causing housing starts to tumble to a three-month low. The Commerce Department said Wednesday that housing starts fell 4.8 percent in July to a seasonally adjusted annual rate of 1.16 million. Stephen Stanley, chief economist at Amherst Pierpont Securities, said...

  • *China, Russia to get priority for Venezuelan oil if U.S. sanctions hit. SINGAPORE/ HOUSTON, Aug 15- Asia would be the biggest beneficiary of any potential sanctions by the United States on Venezuela's oil sector, said traders and analysts, as exports from the South American OPEC member could be redirected to the region, filling a vacuum left by producer supply cuts.

  • HOUSTON _ Sysco Corp. on Monday reported fiscal fourth-quarter profit of $305.2 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share. Four analysts surveyed by Zacks expected $14.23 billion.

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  • Among major oil- and gas-producing states, California and New Mexico each increased by one rig. Texas lost seven rigs and Louisiana decreased by one. Alaska, Arkansas, Colorado, North Dakota, Ohio, Oklahoma, Pennsylvania, Utah, West Virginia and Wyoming were all unchanged.

  • Caracas/ Houston, Aug 11- Venezuelas unraveling socialist government is increasingly turning to ally Russia for the cash and credit it needs to survive and offering prized state-owned oil assets in return, sources familiar with the negotiations told Reuters. Venezuela's state-owned oil firm, Petroleos de Venezuela, has been secretly negotiating since at...

  • CALGARY, Alberta, Aug 10- British Columbia will not allow Kinder Morgan Canada Ltd to begin work on public land for its Trans Mountain pipeline expansion until it "meaningfully" consults aboriginal communities, provincial officials said on Thursday. The $5.5 billion project through British Columbia, which secured federal government approval last year, would...

  • CALGARY, Alberta, Aug 10- British Columbia will not allow Kinder Morgan Canada Ltd to begin work on public land for its Trans Mountain pipeline expansion until it "meaningfully" consults aboriginal communities, provincial officials said on Thursday. The $5.5 billion project through British Columbia, which secured federal government approval last year, would...

  • CALGARY, Alberta, Aug 10- British Columbia will not allow Kinder Morgan Canada Ltd to begin work on public land for its Trans Mountain pipeline expansion until it "meaningfully" consults aboriginal communities, provincial officials said on Thursday. The $5.5 billion project through British Columbia, which secured federal government approval last year, would...

  • CALGARY, Alberta, Aug 10- The government of British Columbia will not allow Kinder Morgan Canada Ltd to begin work on public land for its Trans Mountain pipeline expansion until it "meaningfully" consults aboriginal communities, the Canadian province's environment minister said on Thursday. Minister George Heyman told reporters in Vancouver that the...

  • PUERTO ORDAZ/ CARACAS, Venezuela, Aug 10- V enezuelan homemaker Carmen Rondon lives in the country with the world's largest oil reserves, but has spent weeks cooking with firewood due to a chronic shortage of home cooking gas- leaving her hoarse from breathing smoke. Finding domestic gas cylinders has become increasingly difficult, a problem that oil industry...

  • HOUSTON _ BP Prudhoe Bay Royalty Trust on Wednesday reported second-quarter earnings of $23.5 million. BP Prudhoe shares have dropped 17 percent since the beginning of the year. Keywords: BP Prudhoe, Earnings Report.