houston

Americas

Baker Hughes to write down $15 billion, cut spending

Houston oilfield service company Baker Hughes plans to write down the value of its assets by $15 billion and cut capital spending by more than 20% from 2019 levels as market conditions worsen for the oil and gas industry.

Americas

Earnings down 22% in 2019 for Texas-based Valero Energy

Valero Energy Corp. said Thursday it finished 2019 with earnings of $2.4 billion, down more than 22 percent from the prior year, which the company attributed to higher prices it paid for sour crude and high gasoline inventories.

Americas

Oil and gas industry works to increase awareness of human trafficking

Ataria Malveaux was 18, just out of high school, when she fled a chaotic family life in Houston for the promise of making quick money in Dallas. She soon discovered her would-be employer was a pimp; only the help of another woman allowed her to escape forced prostitution.

Americas

Halliburton cuts 8% of North American workforce amid fracking slump

Houston oilfield service company Halliburton said it cut 8 percent of its North American workforce as it took fleets of hydraulic fracturing equipment from the field  in response to a continued slump in demand for fracking services in the United States and Canada.

OTC

Delegates leave OTC with a smile

For dozens of north-east delegates attending this year’s Offshore Technology Conference (OTC) in Houston, the trip was the place to tout for international business and make invaluable contacts.

OTC

US energy powers ahead

As the global industry assembles in Houston for the Offshore Technology Conference, it will be in the midst of a quiet American revolution.