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Tag Archives: oil and gas

Exxon says oil and gas will still dominate energy in 2040

permian basin

DALLAS — The way oil giant Exxon Mobil sees it, the global energy landscape won’t be radically different in 2040 than it is today. Oil and gas will remain king, accounting for an even slightly larger share of the energy supply. Coal will fall behind natural gas to become the third-largest source of energy. Exxon forecasts that emerging renewables such ...

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NY comptroller seeks ExxonMobil analysis of Paris climate accord

ALBANY, N.Y. — New York’s comptroller and other investors have asked ExxonMobil to advise them about the resilience of the oil company’s business model following the recent Paris climate agreement by nearly 200 countries to slow global warming. Comptroller Thomas DiNapoli, trustee of New York’s $184.5 billion pension fund for public workers, is joining with the Church of England’s investment ...

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Southwestern Energy to shed 1,100 jobs

Southwestern Energy to shed 1,100 jobs

Southwestern Energy Co. announced layoffs Thursday as drilling activity stalls. The Houston-based company will reduce its workforce by more than 40 percent, according to filings with the Securities and Exchange Commission. The oil and natural gas driller expects to shed 1,100 jobs as it copes with falling natural gas prices. About 300 of those laid off are part of Southwestern’s ...

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Attacks on oil installations is costing Nigeria $2.4M a day

LAGOS, Nigeria — Multiple attacks on strategic oil and gas installations is costing Nigeria $2.4 million daily, a Cabinet minister said Tuesday as the military launched a manhunt for a militant and warned it will hold community leaders responsible for the “economic sabotage.” The attacks began Friday in the southern Niger Delta after a court issued an arrest warrant for ...

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Private-sector hiring accelerated in December to 257,000, ADP says

Private-sector hiring accelerated in December to 257,000, ADP says

Companies accelerated their hiring in December, adding a robust 257,000 net new jobs in a sign that the labor market finished last year strong, according to a report Wednesday from payroll firm Automatic Data Processing. The job growth figure exceeded analyst expectations. It was the most net new private-sector jobs since December 2014 and a big jump from a downwardly ...

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Cruz wants to take on EPA, terrorists

Cruz wants to protect Americans from regulators, terrorists

U.S. Sen. Ted Cruz said last week if he is elected president that he will take on the Environmental Protection Agency (EPA). “The alphabet soup of federal agencies have descended like locusts on small businesses, killing jobs all across this country,” said Cruz, R-Texas. Cruz must first win the Republican nomination and faces an upward battle to displace presidential candidate ...

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Occidental opens new facility in Midland

Occidental opens new facility in Midland

Occidental Petroleum opened doors to its new offices last month in Midland, Texas. The Oxy Permian Plaza is comprised of two office buildings connected by a conference center and covers 212,000 square feet. Oxy Permian Plaza is the second facility opened this year in Midland by Occidental Petroleum. The company constructed a training facility earlier this year. Occidental is the ...

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Oil fueling Eddy County’s economic future

oil storage, oil leak

CARLSBAD, N.M. — Stakeholders in New Mexico’s oil and gas industry, particularly in Eddy County, are bracing for where crude oil prices will land in this new year. The New Mexico Oil and Gas Association says the state had a record producing year but a drop in prices in 2015 had many wondering if it was the end of a boom, ...

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Brunswick one of only two N.C. counties to support offshore drilling

BRUNSWICK COUNTY — A pair of North Carolina counties are the only governments in the state to support seismic testing off their coasts. Brunswick and Carteret counties each passed resolutions supporting seismic testing off the Atlantic Coast, while, according to environmental group Oceana, at least 29 government bodies have passed resolutions opposing either testing or offshore exploration. The group lists ...

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US rig count down 2 this week to 698

HOUSTON — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 698. The Houston firm said Thursday 536 rigs sought oil and 162 explored for natural gas amid depressed energy prices. A year ago, 1,811 rigs were active. Among major oil- and gas-producing ...

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