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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 ...

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Michigan wants risk analysis about St Clair River pipelines

St. Clair River, Michigan, lawmakers, oil, piping

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 ...

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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 ...

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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) ...

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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 ...

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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 ...

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Average gasoline price could break $2 threshold

Average gasoline price could break $2 threshold

The national average price for a gallon of gasoline may rise above $2 soon. A gallon of gas averaged $1.99 in the United States late Monday afternoon, according to GasBuddy.com. The average price has risen 5 cents in the past week. The average price for a gallon of gas in Houston was $1.84 on Monday afternoon, up 6 cents from ...

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TransCanada to buy Columbia Pipeline Group for $9.92 billion

TransCanada

NEW YORK (AP) — TransCanada Corp., the Canadian company behind the Keystone XL pipeline, has agreed to buy Columbia Pipeline Group for nearly $10 billion as it expands in the U.S. Houston-based Columbia Pipeline owns 15,000 miles of interstate natural gas pipelines that extends from New York to the Gulf of Mexico. With the acquisition, TransCanada will have about 57,000 ...

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Marathon Oil to focus on Eagle Ford assets

Marathon Oil to focus on Eagle Ford assets

Marathon Oil detailed its diminished drilling strategy on Thursday, with most resources focused on Eagle Ford shale. The Houston-based company announced a 2016 capital program of $1.4 billion dollars, down more than 50 percent from 2015 and more than 75 percent below 2014. Approximately $600 million in capital spending is set aside for Eagle Ford, of which $520 million is ...

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Houston’s FMC Technologies signs $180 million deal

Houston's FMC Technologies signs $180 million deal

Houston-based FMC Technologies signed an agreement with Woodside for the design, manufacture and supply of subsea production systems for the Greater Western Flank Phase 2 Project as part of the North West Shelf Project in Western Australia. The $180 million contract includes subsea production trees, wellheads, manifolds, subsea and topside controls and flowline connection systems. According to a press release, ...

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