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US rig count down 2 this week to 506

rig count, Baker Hughes

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 506. A year ago, 842 rigs were active. Depressed energy prices have sharply curtailed oil and gas exploration. Houston oilfield services company Baker Hughes Inc. said Friday that 416 rigs sought oil and 89 explored for natural gas ...

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North Dakota oil output up about 2,375 barrels daily in July

North Dakota oil production, pumpjack

BISMARCK, N.D. (AP) — North Dakota’s oil production increased by about 2,375 barrels a day in July, after dropping by about 20,000 barrels the month before. The Department of Mineral Resources says the state produced an average of 1.029 million barrels of oil daily in July, up from 1.027 million barrels in June. North Dakota’s production record was set in ...

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Buffett’s firm buys nearly 1 million more Phillips 66 shares

Berkshire Hathaway, Phillips 66

OMAHA, Neb. (AP) — Warren Buffett’s company has bought nearly 1 million more shares of oil refiner Phillips 66. Berkshire Hathaway said in a regulatory filing that it owned 80.67 million Phillips 66 shares after the latest purchases this week. Berkshire now controls 15.4 percent of Phillips 66 stock. Berkshire has been investing in Houston-based Phillips 66 since 2012. After ...

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Trump outlines vision for economy, promising large tax cuts

Trump, economy, tax code

NEW YORK (AP) — Donald Trump outlined his vision for managing the nation’s economy as president on Thursday, promising that his plans to lower taxes by $4.4 trillion over a decade and cut regulations would lead to booming growth, create millions of jobs and even cut into the nation’s budget deficit. “My plan will embrace the truth that people flourish ...

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Dominion subsidiaries end weeklong union lockout in 6 states

Dominion Power, union lockout

CHARLESTON, W.Va. (AP) — An agreement has been reached to end a weeklong lockout at Dominion’s natural gas and interstate transmission subsidiaries. Dominion Hope and Dominion Transmission agreed to end the lockout involving 915 workers in six states, while the United Gas Workers Union Local 69 vowed not to strike. The agreement, announced in a joint news release Wednesday, runs ...

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Fed judge to decide whether climate change lawsuit proceeds

American flag, pipeline protest

EUGENE, Ore. (AP) — A federal judge in Eugene, Oregon, is considering arguments about whether a lawsuit brought by a group of children and a leading climate scientist can go forward. The plaintiffs’ lawsuit alleges that the federal government has known for more than 50 years that carbon pollution causes climate change, but it has failed to implement plans to ...

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Dakota Access CEO: Company committed to finishing project

Iowa is set to make a decision on the Dakota Access Bakkken pipeline. South Dakota was the first of the four states to approve construction of the Energy Transfer Partners-owned Bakken oil pipeline.

BISMARCK, N.D. (AP) — The head of a Texas company building the $3.8 billion Dakota Access pipeline told employees Tuesday that it is committed to the project despite strong opposition and a federal order to halt construction near an American Indian reservation in North Dakota. Energy Transfer Partners CEO Kelcy Warren said in a memo to employees that the four-state, ...

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Oil prices hit by downward revision to global oil demand

global oil production

LONDON (AP) — Oil prices took a pounding Tuesday after a leading industry group said global oil demand growth is slowing by more than previously thought, largely because of a more pronounced economic slowdown during the third quarter of the year. In its September oil market report, the Paris-based International Energy Agency reduced its forecast for global demand growth to ...

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Energy secretary: Administration working hard for coal power

MORGANTOWN, W.Va. (AP) — U.S. Energy Secretary Ernest Moniz says the “war on coal” political messaging is untrue, adding that the Obama administration is working to keep coal an important part of a low-carbon energy future. Moniz spoke Monday at West Virginia University during the Mid-Atlantic Region Energy Innovation Forum. He also toured Longview Power’s coal-fired plant with Sen. Joe ...

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