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Top News & Analysis Texas

  • *OPEC agrees to extend output cuts for nine months. *Non-OPEC producers join OPEC in extending supply agreement. As expected, the Organization of the Petroleum Exporting Countries, along with other non- OPEC members, agreed to extend a cut in oil supplies of 1.8 million barrels per day until the end of the first quarter of 2018 to reduce a glut of supply.

  • VIENNA, May 25- OPEC ministers were forced by Texas shale oil producers on Thursday to extend a supply cut into 2018, a regulator from the U.S. state said. "Texas shale producers forced OPEC this morning to extend its oil production cuts for nine months," said Ryan Sitton, of the Texas Railroad Commission. "Less OPEC oil on the market enhances the opportunity for...

  • LONDON, May 24- Ministers from OPEC and non- OPEC oil exporters are meeting in Vienna today and tomorrow to decide whether to extend production cuts that have been in effect since the start of the year. But with oil traders focused on Vienna, it is worth asking whether the cuts agreed by OPEC on Nov. 30 and non- OPEC on Dec. 10 have had any significant impact on prices so far.

  • Trump proposes to end Gulf of Mexico oil royalties

    Four states may lose billions in future payments through the Gulf of Mexico Energy Security Act.

  • Chevron Jack/St. Malo platform in the Gulf of Mexico.

    The new White House budget proposes ending an oil and gas revenue-sharing program with the four states.

  • LONDON, May 24- Ministers from OPEC and non- OPEC oil exporters are meeting in Vienna today and tomorrow to decide whether to extend production cuts that have been in effect since the start of the year. But with oil traders focused on Vienna, it is worth asking whether the cuts agreed by OPEC on Nov. 30 and non- OPEC on Dec. 10 have had any significant impact on prices so far.

  • WASHINGTON, May 23- A Trump administration plan to sell off half the U.S. emergency crude oil stockpile to help balance the budget faces opposition in Congress, with lawmakers from both parties worried the proposal would undermine the drilling industry and make the country vulnerable to supply shocks. The White House's 2018 budget proposal, sent to Congress on...

  • In his first detailed budget submission to Congress on Tuesday, Trump requested major reductions to programs that help poor families afford groceries and poor and disabled people get healthcare. Some Republicans in Congress cheered Trump's budget. They're really deep, deep cuts, "said Republican Representative Hal Rogers, whose eastern Kentucky district...

  • HOUSTON, May 23- Saudi Aramco plans an investment of up to $30 billion in its U.S. subsidiary Motiva Enterprsies LLC, the company said in an announcement at a business summit in Saudi Arabia. The company said that $12 billion would be the initial investment in a project to expand refining capacity at Motiva's Port Arthur, Texas, refinery, already the largest in the...

  • WASHINGTON, May 23- A Trump administration plan to sell off half the U.S. emergency crude oil stockpile to help balance the budget faces opposition in Congress, with lawmakers from both parties worried the proposal would undermine the drilling industry and make the country vulnerable to supply shocks. The White House's 2018 budget proposal, sent to Congress on...

  • HOUSTON, May 23- Saudi Aramco plans an investment of up to $30 billion in its U.S. subsidiary Motiva Enterprsies LLC, the company said in an announcement on Saturday at a business summit in Saudi Arabia. The company said that $12 billion would be the initial investment in a project to expand refining capacity at Motiva's Port Arthur, Texas, refinery and extend...

  • In his first detailed budget submission to Congress on Tuesday, Trump requested major reductions to programs that help poor families afford groceries and poor and disabled people get healthcare. Some Republicans in Congress cheered Trump's budget. They're really deep, deep cuts, "said Republican Representative Hal Rogers, whose eastern Kentucky district...

  • NEW YORK, May 23- A New York state appeals court on Tuesday ruled that Exxon Mobil Corp should be compelled to turn over records in an investigation into how much the company knew about global warming as it continued to publicly downplay the effects it was expected to have on the fossil fuel industry. Exxon has been battling subpoenas from New York Attorney...

  • "I saw a lot of anti-patent people doing a victory dance yesterday without really understanding what this decision means," said David Pridham, chief executive of Dominion Harbor Group, a Texas- based company that buys patents and seeks to license them to other companies. "According to PricewaterhouseCoopers, 39 percent of all patent lawsuits in fiscal year 2016...

  • *White House proposes to sell half of U.S. *White House plan can be rejected by Congress. The White House budget, delivered to Congress on Tuesday, proposes to start selling SPR oil in fiscal 2018, which begins on Oct. 1.

  • President Donald Trump's White House wants to sell half of the nation's emergency oil stockpile and open the Alaska National Wildlife Refuge to drilling as part of plans to balance the budget over the next 10 years, documents by the administration showed. The White House budget, which will be delivered to Congress on Tuesday, is meant as a proposal and may not...

  • President Donald Trump's White House would sell half of the nation's emergency oil stockpile and open the Alaska National Wildlife Refuge to drilling as part of a plan to balance the budget over the next 10 years, documents released by the administration on Monday showed. The White House budget, which will be delivered to Congress on Tuesday, is meant as a...

  • NEW YORK, May 22- Ford Motor Co's unexpected decision to replace its chief executive officer on Monday may not be the catalyst that revives its slumping share prices. Shares of the second-largest U.S. automaker rose 2.1 percent Monday, a relatively muted reaction given the 0.5 percent gain in the broad Standard& Poor's 500 index. There's just nothing out there...

  • In Japan the divergence between labor market strength and minimal or negative wage growth is particularly jarring. Yet wage inflation remains moribund, Albert Edwards, global strategist at Societe Generale in London, wrote in a note to clients. Real wages fell in March in Japan at the fastest clip in two years, with inflation-adjusted wages down 0.8 percent...

  • NEW YORK, May 22- Toyota Research Institute, a wholly owned unit of Toyota Motor North America, said on Monday it has teamed up with MIT Media lab and five other companies to explore blockchain technology for the development of driverless cars. "Hundreds of billions of miles of human driving data may be needed to develop safe and reliable autonomous vehicles," said...