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Top News & Analysis Houston

  • HOUSTON— The number of rigs exploring for oil and natural gas in the U.S. declined by 15 this week to 913.. Among major oil- and gas-producing states, Texas lost eight rigs, Alaska and Wyoming each declined by two and New Mexico and Utah each lost one. Arkansas, California, Colorado, Kansas, Louisiana, North Dakota, Ohio, Oklahoma, Pennsylvania and West Virginia were...

  • Legendary energy trader John Arnold says autonomous vehicles are 'terribly bearish' for oil

    Billionaire John Arnold shared his view on the oil market in an interview Friday on CNBC's "Power Lunch."

  • James Harden

    Houston Rockets guard James Harden speaks with CNBC's Brian Sullivan and Houston Rockets Owner Tilman Fertitta about the NBA, the team's new owner and anthem protests in the NFL.

  • The outlook drove shares in both companies lower, with Schlumberger NV hitting a 21- month low and Baker Hughes touching a 16- month low before retracing some losses. A current lack of production investments outside North America should benefit producers as inventories fall, Kibsgaard said. Schlumberger was last down 3.3 percent at $62.33 and Baker Hughes...

  • Houston mayor on Harvey recovery: We're making significant progress

    CNBC's Brian Sullivan speaks to Houston Mayor Sylvester Turner and Edward Emmett, Harris County judge, about how Houston and the surrounding areas are recovering from Hurricane Harvey six weeks later. Tilman Fertitta, owner of the Houston Rockets and Landry’s CEO, also weighs in.

  • Billionaire John Arnold on FEMA response to Harvey: There are a lot of politics involved in drawing flood maps

    CNBC's Brian Sullivan speaks with John Arnold, Centaurus Advisors, and Tilman Fertitta, owner of the Houston Rockets and Landry’s CEO, about Houston's recovery from Hurricane Harvey.

  • Frank Jones, owner of Cavalry Construction, stands inside a house that was after Hurricane Harvey in Spring, Texas, U.S., on Wednesday, Sept. 6, 2017.

    Houston area sales rose 4 percent in September from the prior year, after plummeting nearly 24 percent in August.

  • HOUSTON, Oct 20- Venezuela's state-run petroleum firm PDVSA has been barred from using a NuStar Energy oil storage terminal in the Caribbean over $26 million in unpaid bills, according to documents reviewed by Reuters, halting delivery of a cargo to an oil trader. Shipping delays and quality concerns also are jeopardizing the OPEC- member country's crude sales,...

  • Shares of Schlumberger NV dropped nearly 5 percent to a 21- month low of $61.41, while Baker Hughes tumbled 5.2 percent to a 16- month low of $31.44. Schlumberger said investments in North America were moderating as energy companies increasingly shied away from chasing higher production at the cost of financial returns. Kibsgaard said he expects the rate of...

  • WASHINGTON— U.S. home sales rose slightly last month as the Houston housing market quickly recovered from Hurricane Harvey. The National Association of Realtors said Friday existing home sales increased 0.7 percent to a seasonally adjusted annual rate of 5.39 million. "It's simply impossible to sell more homes when the number of homes for sale keeps falling,"...

  • WASHINGTON, Oct 20- U.S. home resales unexpectedly increased in September as the effects of Hurricanes Harvey and Irma began to dissipate, but a persistent dearth of properties for sale continued to weigh on overall activity. Harvey, which hit Texas in the last week of August, and Irma, which battered Florida in early September, had already affected sales for...

  • Net profit attributable to Houston- based Schlumberger company rose to $545 million, or 39 cents per share, in the quarter ended Sept. 30, from $176 million, or 13 cents per share, last year. The company's revenue rose to $7.91 billion from $7.02 billion in the same quarter last year. Schlumberger shares were slightly higher at $64.60 in premarket trading on Friday,...

  • Oct 20- Schlumberger Ltd posted a bigger quarterly profit on Friday, as its North American business continues to be helped by strong shale drilling. Net profit attributable to the Houston- based oilfield services company rose to $545 million, or 39 cents per share, for the third quarter ended Sept. 30, from $176 million, or 13 cents per share, last year.

  • The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share. Seven analysts surveyed by Zacks expected $5.5 billion. Elements of this story were generated by Automated Insights using data from Zacks Investment Research.

  • THE WOODLANDS, Texas, Oct 19- The U.S. Environmental Protection Agency will cut response times to permit requests to within six months by the end of 2018, part of the agency's goal to reduce regulations and delays, Administrator Scott Pruitt said on Thursday. The EPA has in some cases taken several years to review some permit requests. Environmentalists have...

  • THE WOODLANDS, Texas, Oct 19- The U.S. Environmental Protection Agency will respond to permit requests within six months by the end of 2018, part of the agency's goal to reduce regulations and delays, Administrator Scott Pruitt said on Thursday. It's just a matter of having the process in place to achieve results, "Pruitt said in a panel discussion at the Texas Oil&...

  • HOUSTON, Oct 19- Mexico has not yet been consulted by the Organization of the Petroleum Exporting Countries about a plan to extend a production cut through the end of 2018, the country's deputy energy minister, Aldo Flores, said on Thursday. Several non- OPEC producers, including Mexico, last year joined with OPEC to drain a global inventory glut in a move that has...

  • HOUSTON, Oct 19- Mexico's oil regulator will likely add another auction in 2018 featuring conventional onshore oil and gas blocks, the head of the National Hydrocarbons Commission said on Thursday, potentially teeing up a third tender in an election year. Depending on the winner, Mexico's July 2018 presidential election could alter the pace and scope of future...

  • *Chevron suspends drilling activity in Kurdistan. HOUSTON, Oct 19- Oil prices fell more than 1 percent on Thursday, breaking four days of gains, pressured by larger-than-expected product inventories in the United States and profit-taking after a recent run-up in markets. "The geopolitical risk that came rushing into the market is starting to come out," said John...

  • Iraq to restore Kirkuk oil production by Sunday. HOUSTON, Oct 19- Oil prices fell more than 1 percent on Thursday, pressured by larger-than-expected product inventories in the United States, and some profit-taking after a recent run-up in oil benchmarks. Ongoing tension in the Middle East has been supportive, however, as reduced flows from the Iraqi Kurdish...