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Rig contractor to pay up to $100M for big data tech firm

Mon May 22 21:19:55 +0000 2017

Helmerich & Payne, the largest U.S. rig contractor, is set to buy a small Dallas firm touting technology that can guide drill bits to oil-soaked rock with cognitive computing. The Oklahoma drilling contractor will pay $75 million to purchase Motive Drilling Technologies, but that price tag could include additional payouts of up to $25 million ...
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Two small spills from Dakota Access pipeline reported

Mon May 22 20:07:57 +0000 2017

BISMARCK, N.D. (AP) — The Dakota Access pipeline system leaked more than 100 gallons of oil in North Dakota in two separate incidents in March — the second and third known leaks discovered as crews prepared the disputed $3.8 billion pipeline for operation. Two barrels, or 84 gallons (320 liters), spilled due to a leaky ...
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Crude rises on reported OPEC agreement to extend output cuts into 2018

Mon May 22 16:02:03 +0000 2017

Oil rose to the highest in a month as Saudi Arabia said all producers participating in output cuts agree on extending the deal through the first quarter of 2018. Futures climbed as much as 1.5 percent in New York after advancing 5.2 percent last week. Prolonging the cuts will help producers reach their goal of ...
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Exxon Mobil completes massive plastics expansion near Houston

Mon May 22 14:59:48 +0000 2017

Exxon Mobil said Monday it has completed a large plastics plant expansion in Mont Belvieu as part of a massive, multibillion-dollar petrochemical growth effort in the Houston area. Exxon Mobil said it finished mechanical construction of two plastics facilities at its existing plant that will add 1.3 million metric tons of annual capacity to manufacture ...
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Texas Southern participates in national solar energy competition

Mon May 22 14:01:57 +0000 2017

  Texas Southern University and a consortium of 13 other eastern and southern universities are competing for a U.S. Department of Energy grant that will help fund solar power projects for low income households. The Department of Energy has set aside $5 million for the competition, although Texas Southern and the group of universities will ...
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BP begins pumping oil from UK North Sea field

Mon May 22 13:15:20 +0000 2017

BP has begun pumping oil from a redeveloped field in the United Kingdom’s North Sea, firing up its third major project this year, the company said Monday. The British oil company’s North Sea project, dubbed Quad 204 west of the Scottish Shetland isles, will produce 130,000 barrels of oil a day at its height this ...
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Average gasoline price in Houston slips again

Mon May 22 13:14:45 +0000 2017

Average gasoline prices in the Houston area fell 2 cents a gallon over the last week, the website GasBuddy reported. Prices slipped to an average of $2.17 a gallon on Sunday, down 11 cents from a month ago, but up 15 cents from the same day a year earlier, said GasBuddy, which tracks gasoline prices ...
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Huntsman and Switzerland’s Clariant to merge as $14B company

Sun May 21 23:19:01 +0000 2017

The Woodlands’ Huntsman Corp. and the Swiss company Clariant said Monday they plan to combine in a so-called merger of equals to create one of the world’s largest specialty chemicals companies. The all-stock deal would create a $14 billion company called HuntsmanClariant. Huntsman CEO Peter Huntsman would serve as CEO with Clariant AG CEO Harold Kottmann as ...
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U.S. rig count surges to more than 900

Fri May 19 17:16:53 +0000 2017

Despite chaotic turns in the oil market in recent weeks, the U.S. oil industry comeback shows no sign yet of slowing down. The number of rigs drilling for oil and gas across the nation climbed by 16 in the past week, marking the 18th consecutive weekly increase, Baker Hughes said Friday. The oil field service ...
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The complexity of OPEC compliance

Fri May 19 15:45:06 +0000 2017

One of the biggest conundrums of the OPEC / NOPEC production cut from a ClipperData perspective is that no sooner does a producer appear to be showing compliance via lower exports, lo and behold, volumes rebound. Some producers have been fairly consistent in their discipline, barring a few blips (bravo, Saudi), while others stand on ...
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What's behind the spike in pump prices where you are?

Mon Jun 10 14:47:15 +0000 2013

After prices spiked much higher than average in several parts of the country, a lot of drivers are wondering why they're suddenly shelling out more to fill up.After prices spiked much higher than average in several parts of the country, a lot of drivers are wondering why they're suddenly shelling out more to fill up.



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Part 4: Disputes on  fracking impact obscure its future

Fri Apr 12 21:33:31 +0000 2013

Many facts about fracking's impact on the environment remain hotly contested. Consequences like water contamination have proven, but often it is not clear if they were directly caused by fracking or the result of sloppy drilling practices.Many facts about fracking's impact on the environment remain hotly contested. Consequences like water contamination have proven, but often it is not clear if they were directly caused by fracking or the result of sloppy drilling practices.



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Drivers could see lower gas prices this summer

Wed Apr 03 22:26:35 +0000 2013

Drivers can expect "significantly lower" gasoline prices this summer, but only if gas futures drop below the key level of $2.90 a gallon, professional trader Jim Iuorio told CNBC on Wednesday.
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Part 3: Energy boom could shake global order

Sun Mar 31 16:25:39 +0000 2013

Power Shift: A dramatic change is occurring in how energy is being produced and consumed around the world – one that could lead to far-reaching changes in geopolitics.Power Shift: A dramatic change is occurring in how energy is being produced and consumed around the world – one that could lead to far-reaching changes in geopolitics.



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Video: Oil may again alter Mideast's course

Fri Mar 29 20:32:24 +0000 2013

April 1, 2013: As energy production in North America climbs, NBC News' Chief Foreign Correspondent Richard Engel explores what it will mean to oil-producing countries in the Middle East. (NBC News Web Extra)As energy production in North America climbs, NBC News' Chief Foreign Correspondent Richard Engel explores what it will mean to oil-producing countries in the Middle East. (NBCNews.com)



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Part 2: Boom begins to ripple through US economy

Mon Mar 25 08:52:16 +0000 2013

The boom in new oil and natural gas flowing through U.S. pipelines is beginning to ripple through the wider American economy.The boom in new oil and natural gas flowing through U.S. pipelines is beginning to ripple through the wider American economy.



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Oil firms, environmentalists OK new fracking rules

Wed Mar 20 17:42:22 +0000 2013

In an unlikely partnership between longtime adversaries, some of the nation's biggest energy companies and environmental groups have agreed on a voluntary set of standards for gas and oil fracking in the Northeast.In an unlikely partnership between longtime adversaries, some of the nation's biggest energy companies and environmental groups have agreed on a voluntary set of standards for gas and oil fracking in the Northeast.



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For oil markets, China isn't what it used to be

Wed Mar 20 16:57:55 +0000 2013

Analysts argue that China has less pull on market prices than it did even a few short years ago.
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Interactive map: Where US energy is produced

Mon Mar 18 14:39:23 +0000 2013

See which states produce different types of energy, and where "fracking" is taking place.See which states produce different types of energy, and where "fracking" is taking place.



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Part 1: Energy boom dawning in America

Mon Mar 18 14:23:27 +0000 2013

In a turnaround that industry insiders describe as nothing short of amazing, advances in drilling technology have drastically altered America's energy picture, setting the stage for a boom that many believe could supercharge the entire economy.In a turnaround that industry insiders describe as nothing short of amazing, advances in drilling technology have drastically altered America's energy picture, setting the stage for a boom that many believe could supercharge the entire economy.



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Video: Residents welcome energy boom, while it lasts

Sat Mar 16 02:12:20 +0000 2013

March 14, 2013: New technology is creating a boom in energy extraction in the Permian Basin. For most residents, it's a welcome boost to the economy. (msnbc.com)New technology is creating a boom in energy extraction in the Permian Basin. For most residents, it's a welcome boost to the economy. (NBCNews.com)



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