Home / Tag Archives: Houston

Tag Archives: Houston

Houston recovering from yet another deadly flood

Houston recovering from yet another deadly flood

HOUSTON (AP) — As more than a foot of rain deluged the nation’s fourth-largest city, inundating homes, shutting down major highways and leaving at least five people dead, Houston’s mayor said there was no immediate solution. Heavy flooding has become nearly an annual rite of passage in the practically sea-level city, where experts have long warned of the potential for ...

Read More »

Michigan wants risk analysis about St Clair River pipelines

Michigan wants risk analysis about St Clair River pipelines

MARYSVILLE, Mich. (AP) — The state of Michigan wants the federal government to request a comprehensive risk analysis about several pipelines under the St. Clair River. The request was included in the state’s comments announced Thursday about proposed issuance of a presidential permit to Plains LPG Services that officials say could allow two St. Clair River pipelines built in 1918 ...

Read More »

Top Eagle Ford news stories: April 1-8

Take a look back at the top Eagle Ford news stories of the week. Depressed oil prices continue to impact economies at home and abroad. Houston lost more jobs as it weathers the oil bust, and an OPEC official said a deal to freeze production will be reached soon. 5. Once wedded to oil, Houston economy carries on despite bust HOUSTON (AP) ...

Read More »

National Oilwell slashes dividend, expects weak revenue

National Oilwell slashes dividend, expects weak revenue

NEW YORK (AP) — National Oilwell Varco Inc. will slash its quarterly dividend and expects a revenue decline as persistently low oil prices cut into sales of drilling equipment and oil-field services. The Houston-based company’s board of directors approved slashing the dividend to 5 cents from 46 cents. The company also expects revenue of about $2.16 billion, marking a 20 ...

Read More »

Chevron announces more Houston job cuts

Chevron announces more Houston job cuts

Chevron plans to cut 655 Houston jobs as part of a payroll decrease across its upstream business. The California-based company confirmed the layoffs Thursday. Chevron previously stated it would cut its workforce by 4,000 this year. In 2015, The oil major reduced its workforce by 3,000. The total estimated cuts made up about 10 percent of the company’s workforce at ...

Read More »

More Texas jobs lost as oil bust continues

More Texas jobs lost to oil bust

More than 1,100 Texas jobs have been cut in the past few weeks, according to reports by the Texas Workforce Commission. Oil major BP plans to cut at least 500 jobs in Harris County this year. The layoffs are expected to happen in June at three Houston locations. BP spokesman Jason Ryan said about 4,000 total upstream jobs will be ...

Read More »

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 ...

Read More »

Houston Has Highest Chance of Home Price Declines

As a whole, U.S. real estate has a low chance of experiencing a drop in prices. But energy-dependent areas are more vulnerable. Across the entire country, there is a six percent likelihood that residential home prices will decline during the next two years. While the national risk level is low, Energy Patch states — those dependent on coal, oil or ...

Read More »

Economists say Houston can weather oil downturn

HOUSTON — Gone are the lavish lunches with bottles of wine and luxury cars rolling off the lots, but economists say Houston should weather the latest downturn in oil. The local economy is showing strains entering the second year of the worst oil downturn in decades but it’s not collapsing the same way as previous oil busts, The Houston Chronicle ...

Read More »