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Top News & Analysis Houston

  • HOUSTON/ CALGARY, Alberta, May 24- Pipeline bottlenecks have vexed North American oil producers this year, but for companies making a little-known additive called drag-reducing agent, they have provided a veritable windfall. It is a tiny but booming business, accounting for about $500 million in global sales- half of that in the United States- but is growing about...

  • HOUSTON _ Bristow Group Inc. on Wednesday reported a loss of $100.9 million in its fiscal fourth quarter. The Houston- based company said it had a loss of $2.84 per share. For the year, the company reported that its loss widened to $195.7 million, or $5.54 per share.

  • *Talk of sanctions on Iran, lower Venezuelan supply support. *Possible lift of OPEC supply curbs could undermine rally. NEW YORK, May 23- Oil benchmarks fell on Wednesday after an unexpected build in U.S. crude and gasoline inventories despite strong demand, and as traders weighed a possible increase in OPEC crude output to cover any shortfalls in supply from Iran...

  • BISMARCK, N.D.— Interior Secretary Ryan Zinke faced protests and a heckler Wednesday as he delivered a message of government cooperation at a large energy industry conference in North Dakota. Zinke told the crowd at the Williston Basin Petroleum Conference in Bismarck that government needs to be a better partner with the energy industry.

  • May 22- Aye, aye, captain: the rights to The Krusty Krab, the greasy spoon featured in the popular children's TV series "SpongeBob SquarePants," belong to Viacom Inc and not to a Texas restaurateur hoping to open a seafood chain with that name. The 5th U.S. Circuit Court of Appeals ruled 3-0 on Tuesday that Viacom deserves trademark protection for The Krusty Krab, and...

  • May 22- Aye, aye, captain: the rights to The Krusty Krab, the greasy spoon featured in the popular children's TV series "SpongeBob SquarePants," belong to Viacom Inc and not to a Texas restaurateur hoping to open a seafood chain with that name. The 5th U.S. Circuit Court of Appeals ruled 3-0 on Tuesday that Viacom deserves trademark protection for The Krusty Krab, and...

  • NEW YORK— A reporter for The Associated Press was grabbed by the shoulders and shoved out of an Environmental Protection Agency building by a security guard Tuesday for trying to cover a meeting on water contaminants in which some reporters were welcomed and others were not. Knickmeyer, who said she was not hurt, was later let into the meeting when the EPA...

  • HOUSTON— Federal prosecutors say a 42- year-old Houston man has pleaded guilty to embezzling more than $3.4 million from a Dallas- based design and construction company where he was construction manager for a downtown Houston luxury hotel project. Attorney Ryan Patrick says Moses Said had worked for The Beck Group of Dallas in charge of Houston's Le Meridien...

  • CAPE CANAVERAL, Fla.— One of NASA's prime shippers, Orbital ATK, launched a fresh load of supplies to the International Space Station from Virginia on Monday. Earth's newest spacecraft launched this morning in a column of fire and roar, " NASA's space program manager, Kirk Shireman, said from Houston. The Cygnus holds a student cement-mixing experiment, as well as an...

  • HOUSTON— An emergency management official says nearly two dozen people suffered non-life threatening injuries in an explosion and a fire at a chemical plant near Houston. La Porte Emergency Management Lt. The plant's address is Pasadena, but is located in an unincorporated area between the Houston suburbs.

  • HOUSTON _ PrimeEnergy Corp. on Friday reported first-quarter net income of $3.3 million. The Houston- based company said it had net income of $1.14 per share. PrimeEnergy shares have increased 30 percent since the beginning of the year.

  • Among major oil- and gas-producing states, New Mexico added three rigs and Texas tacked on two. Alaska, Colorado, Louisiana, North Dakota and Ohio each shed one rig. Arkansas, California, Oklahoma, Pennsylvania, Utah, West Virginia and Wyoming saw their rig levels unchanged this week.

  • HOUSTON, May 17- Finding roughnecks remains a challenge for oil drillers as rising crude prices increase demand for their services, oilfield executives said on Thursday at a conference in Houston. U.S. oil prices have rebounded to over $70 a barrel from lows of around $26 a barrel in 2016, aided by rising global demand and supply cuts from OPEC- member countries...

  • *OPEC cuts and looming U.S. sanctions on Iran lift Brent. NEW YORK, May 17- Oil prices climbed above $80 a barrel on Thursday for the first time since November 2014, before retreating on a stronger dollar and climbing U.S. output to end unchanged. A rapid slide in oil supply from Venezuela, concern that U.S. sanctions will disrupt exports from Iran, and falling global...

  • Mexico has auctioned off more than 100 contracts to foreign and local companies since President Enrique Pena Nieto started opening the nation's oil fields to foreign investment in 2013.. That's delaying potential benefits to Mexico and could make the reforms that much easier to unwind if voters elect an anti-reform candidate for president when Pena Nieto...

  • *Japan buys 150,000-180,000 T of U.S. sorghum since mid-April. TOKYO, May 17- Japanese grain buyers have bought at least three vessels carrying a total of 150,000 to 180,000 tonnes of U.S. sorghum amid a trade spat between China and the United States, four industry sources told Reuters. The cargoes are among roughly two dozen bought by China but left stranded after...

  • Many women with a common and aggressive form of breast cancer that is treated with Herceptin can get by with six months of the drug instead of the usual 12, greatly reducing the risk of heart damage it sometimes can cause, a study suggests. The study was done in the United Kingdom and funded by UK government grants. Results were released Wednesday by the American...

  • TORONTO— Canada's federal government will cover financial losses a pipeline builder might suffer if British Colombia's provincial government continues to obstruct the Trans Mountain pipeline expansion, the country's finance minister said Wednesday. Finance Minister Bill Morneau also said that other investors would step in if Houston- based Kinder...

  • Hazim Nada set up the Swiss trading firm, now called Lord Energy, a decade ago to deal with coal from Indonesia and South Africa and cement in the Mediterranean market. This month it is loading its first cargo of Nigerian crude and is adding Russian oil to the list in June, after shifting to crude trading in 2015 dealing with oil from Algeria, Colombia, Brazil and Libya.

  • HOUSTON, May 15- U.S. oil producer ConocoPhillips is far from collecting the full value of a $2 billion arbitration award against Venezuelan state oil company PDVSA, Conoco's chief executive said on Tuesday. Conoco has filed with courts in the United States, Hong Kong, the United Kingdom and throughout the Caribbean in an attempt to begin the legal process of...