Senior Correspondent
Terry's Feed
Mar 23, 2014

Oil spill cleanup efforts resume off Texas Gulf shore

TEXAS CITY, Texas (Reuters) – Four skimming boats surrounded a partially submerged barge on Sunday at the entrance to the Houston Ship Channel, working to clean up fuel spilled from one of the vessel’s tanks into Galveston Bay after a Saturday collision with a cargo ship, according to a Reuters eyewitness.

“This is a very significant discharge,” said Coast Guard Lieutenant Junior Grade Kristopher Kidd, a spokesman for the maritime safety agency.

Mar 7, 2014

Bernanke says energy a ‘bright spot,’ upbeat on jobs data

HOUSTON, March 7 (Reuters) – The boom in onshore natural gas
production in the United States has brought down power prices
and may be contributing to a “reshoring” of manufacturing jobs
from overseas, former Federal Reserve Chairman Ben Bernanke said
on Friday.

The U.S. economy continues to recover, thanks in part to
rising energy production, but more needs to be done to boost
growth, Bernanke said in one of his first public speeches since
handing over the reins at the Fed in January to Janet Yellen.

Mar 5, 2014

Global gas trade may soften foreign policy of Russia, China

HOUSTON, March 5 (Reuters) – The rise of global trade in
liquefied natural gas in the coming decade could curb Russia’s
foreign-policy leverage over Europe and prompt China to take a
more constructive role in global affairs as its imports of the
fuel surge.

This view, shared by many energy experts at the IHS CERAWeek
conference in Houston, means that in the future Russia may have
less room to assert itself with neighbors the way it did when
its forces recently seized control of Ukraine’s Crimea.

Dec 19, 2013

Bountiful U.S. oil changes nature of game for producer Apache

HOUSTON, Dec 19 (Reuters) – On a wall inside an old hunting
lodge in west Texas that Apache Corp uses as a field
office, a board lists the winners of $10,000 prizes given to
workers with big ideas to cut costs – the new way to get ahead
in North America’s shale oil industry.

The shale boom that over the last five years has revived old
Texas oil fields has largely made the unpredictable world of
wildcatting, or looking for oil in new fields, a thing of the

Dec 13, 2013

Mexico, late to game, must hustle to attract foreign oil companies

HOUSTON, Dec 13 (Reuters) – The ultimate success of Mexico’s
push to open up its stagnant oil industry 75 years after a
nationalization will depend on whether it can guarantee enough
autonomy to foreign firms that have a cornucopia of options
worldwide, energy experts said on Friday.

Mexico President Enrique Pena Nieto, who won a victory in
Congress on Thursday when landmark reform legislation was
approved, hopes foreign companies will help reverse a
decade-long slide in output by state-run Pemex and tap
what experts agree are tremendous resources.

Dec 5, 2013

Fed officials call for clear plan on wind down of QE3

COLLEGE STATION, Texas/FORT LAUDERDALE, Florida (Reuters) – The Federal Reserve should telegraph the end of its current massive round of bond-buying by committing to a set schedule for the wind-down, two top policymakers said on Thursday.

Their embrace of the idea, after two others have publicly supported it in recent weeks, suggests it may be gaining traction ahead of a much-anticipated December 17-18 Fed policy meeting.

Nov 21, 2013

Magellan sees heavy demand for U.S. Gulf condensate splitters

HOUSTON (Reuters) – The U.S. Gulf Coast may need six to eight facilities to turn condensate – a very light form of crude oil – into exportable products and handle a glut of output from the Eagle Ford field in Texas, Magellan Midstream Partners LP (MMP.N: Quote, Profile, Research, Stock Buzz) Chief Executive Michael Mears said.

Splitters, or a very basic distillation tower, give condensate a minimal level of processing. Without that processing, condensate is considered crude oil under U.S. law and therefore cannot be exported.

Nov 21, 2013

Fracking without freshwater at a west Texas oilfield

MERTZON, Texas, Nov 21 (Reuters) – At a dusty Texas
oilfield, Apache Corp has eliminated its reliance on
what arguably could be the biggest long-term constraint for
fracking wells in the arid western United States: scarce

For only one well, millions of gallons of water are used for
hydraulic fracturing, or fracking, the process that has helped
reduce U.S. reliance on foreign oil over the past five years by
cracking rock deep underground to release oil and gas.

Nov 12, 2013

GE pushes gas power for drill rigs, Caterpillar’s diesel turf

HOUSTON, Nov 12 (Reuters) – General Electric Co is
trying to deploy more of its natural gas engines on rigs
drilling for hydrocarbons in the North American energy boom -
where Caterpillar Inc diesel engines have long been the
industry standard.

The sales push comes as GE forecasts global natural gas
consumption will rise by a third through 2025 and as it makes
strategic investments in the gas sector – like its 2010 purchase
of U.S. engine maker Waukesha.

Oct 28, 2013

Analysis: From Big Foot to Bluto, Gulf of Mexico bolstering U.S. as No. 1 in oil

CORPUS CHRISTI, Texas (Reuters) – The Gulf of Mexico, stung by the worst offshore oil spill in U.S. history in 2010 and then overshadowed by the onshore fracking boom, is on the verge of its biggest supply surge ever, adding to the American oil renaissance.

Over the next three years, the Gulf is poised to deliver a slug of more than 700,000 barrels per day of new crude, reversing a decline in production and potentially rivaling shale hot spots like Texas’s Eagle Ford formation in terms of growth.

    • About Terry

      "I lead our coverage in Peru, where I have been since August 2007. Before that, I worked in Brazil for seven years covering all things under the sun."
    • Follow Terry