Top News & Analysis Houston

  • Oct 18- Schlumberger NV beat Wall Street estimates for quarterly profit on Friday, as higher drilling activity in international markets boosted demand for its equipment and services and offset weakness in North America. Schlumberger, an industry bellwether, said revenue from its international business rose 8% to $5.63 billion in the third quarter, while...

  • HOUSTON, Oct 16- Kinder Morgan Inc expects to bring the remaining nine units of its liquefied natural gas export facility at Elba Island into service by the first half of next year, Chief Executive Officer Steven Kean said on Wednesday. The first unit of Kinder Morgan's Elba Island facility began producing LNG natural gas for export last month, and is one of...

  • HOUSTON, Oct 16- Kinder Morgan Inc expects to bring the remaining nine units of its liquefied natural gas export facility at Elba Island into service by the first half of next year, Chief Executive Officer Steven Kean said on Wednesday.

  • HOUSTON, Oct 16- Oil rose about 1.4% on Wednesday, gaining support due to signs that OPEC and allied producers will continue to curb supplies in December, a weaker U.S. dollar and as traders covered short positions ahead of an industry report on U.S. crude inventories. Market participants believe the group known as OPEC+ could decide to extend production cuts "and...

  • HOUSTON, Oct 16- Oil rose about 1.4% on Wednesday, gaining support due to signs that OPEC and allied producers will continue to curb supplies in December, a weaker U.S. dollar and as traders covered short positions ahead of an industry report on U.S. crude inventories. Market participants believe the group known as OPEC+ could decide to extend production cuts "and...

  • *OPEC signals on further oil-supply curbs lend support. HOUSTON, Oct 16- Oil rose above $59 a barrel on Wednesday, gaining support due to signs that OPEC and allied producers will make further curbs to oil supply in December, and as traders covered short positions ahead of an industry report on U.S. crude inventories. Market participants believe the group known as...

  • Oct 15- Oil and gas producer Occidental Petroleum nudged its estimate for third-quarter production higher on Tuesday, helped by fewer shutdowns in Colorado's DJ basin and strong performance in its Permian Resources unit. Houston, Texas- based Occidental also said https://www.sec.gov/ix? doc=/ Archives/edgar/data/797468/000114036119018395/form8k. h t m...

  • *Higher freight, narrow Brent-WTI spread hit US oil flow to Asia. The cost of shipping crude from the Americas, Europe, Africa and the Middle East to Asia has surged over the past two weeks as companies shunned nearly 300 tankers on fears of violating sanctions against OPEC members Iran and Venezuela. Higher freight rates and a jump in crude premiums after the Saudi...

  • HOBBS, N.M., Oct 13- New Mexico oil man Johnny Vega laid out his predicament as his crew hoisted pipes from a well during the biggest oil boom in U.S. history. There is no shortage of Hispanic and Latino immigrant workers without work permits he could hire in Lea County, New Mexico- the No.2 oil-producing county in the United States. Employers like Vega in the Permian...

  • *Higher freight, narrow Brent-WTI spread hit US oil flow to Asia. The cost of shipping crude from the Americas, Europe, Africa and the Middle East to Asia has surged over the past two weeks as companies shunned nearly 300 tankers on fears of violating sanctions against OPEC members Iran and Venezuela. Higher freight rates and a jump in crude premiums after the Saudi...

  • Unipec, the trading arm of China's Sinopec, Swiss trader Trafigura AG, oil firm Equinor ASA, Exxon Mobil Corp and others are shunning contracts or vessels that might put them in jeopardy of violating U.S. sanctions on Venezuela, according to sources and documents. The United States in early August ratcheted up sanctions on Venezuela, adding measures that could...

  • LAUNCESTON, Australia, Oct 10- Asian refiners are once again paying the price for the ongoing battle between the United States and Iran, with the effective price of crude oil being kicked higher by a sharp rise in tanker freight costs. Given Asian refiners rely heavily on long-distance supplies from the Middle East, Africa and the United States, the rise in freight...

  • The delays have caused the two giant gas pipelines- Dominion Energy Inc's Atlantic Coast and EQM Midstream Partners LP's Mountain Valley- to increase their cost estimates by hundreds of millions of dollars, according to the companies. The Atlantic Coast pipeline may never be completed unless the U.S. Supreme Court overturns a lower-court decision blocking...

  • HOUSTON, Oct 8- Citgo Petroleum Corp this week named a former BP lawyer to take on the company's top legal job as it faces creditors seeking to seize shares in the U.S.-based refiner over parent PDVSA's debts. Jack Lynch, who spent 18 years working for BP in Houston, London and Cleveland, Ohio, was named vice president of legal and government affairs, according to...

  • Cities such as New York, Houston and San Francisco have moved to near the top of the rankings in recent years in terms of wage inequality, the report by economists Jaison Abel and Richard Deitz released on Monday found. In San Francisco, inflation-adjusted wages for workers in the top 5% of wage earners grew by 120% between 1980 and 2015, while wages for the bottom...

  • NEW YORK, Oct 7- Wall Street equity indexes ended a volatile session lower on Monday while oil prices gave up early gains and the dollar rose as investors looked for safety ahead of U.S.- China trade talks. As deputy level U.S.- China trade talks kicked off on Monday, the White House confirmed that high-level talks involving Chinese Vice Premier Liu He, U.S.

  • LONDON/ HOUSTON, Oct 4- Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to four people familiar with the matter, putting new pressure on the U.S. sanctioned country and on global crude freight rates. Washington has imposed several rounds of sanctions on Venezuela this year to oust socialist...

  • HOUSTON, Oct 4- Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to four people familiar with the matter, placing new pressure on the U.S. sanctioned country and on global crude freight rates. The largest publicly-traded oil producer's contract clause would affect about 250 tankers, two of the...

  • By Jennifer Hiller and Jonnelle Marte. THE WOODLANDS, Texas/ NEW YORK, Oct 3- Two Fed policymakers on Thursday signaled they are open to delivering another rate cut after a report showed the growth in the vast U.S. services sector is slowing, but the Fed's No. 2, speaking late in the day, gave little away on his own thinking. The Fed "will act as appropriate to sustain a low...

  • MADRID/ THE WOODLANDS, Texas, Oct 3- Fed policymakers said on Thursday they are open to the possibility of another rate cut as data indicated that a slowdown in U.S. manufacturing is beginning to spread to other parts of the world's biggest economy. "We will go to our next meeting, have a discussion about what's appropriate, and I'm extremely open-minded to making an...