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Texas energy sector okay after Harvey, Fed survey finds

Texas energy sector okay after Harvey, Fed survey finds

Business
Sept. 28 (UPI) -- Respondents to a survey from the Federal Reserve Bank of Dallas said Hurricane Harvey should have only a modest, but lingering, impact on the energy sector.Hurricane Harvey hit the southern coast of Texas and the largest density of refineries on the southern Gulf Coast in late August. By now, all of the refineries are back in service, though eight are still operating at reduced capacity. Around 15 percent of total U.S. refining capacity was impacted by the storm at the peak.About half of the respondents from 143 energy companies to a survey from the Dallas Fed said they expected minor impacts on their business activity from Harvey."Respondents reported widespread but generally limited impacts on their operations due to Hurricane Harvey, and most believe these effects will...
Texas oil production slightly lower, early data show

Texas oil production slightly lower, early data show

Business
Sept. 26 (UPI) -- Crude oil production reported to the state energy regulator in Texas for July was slightly lower than last year, preliminary data show.Texas is the No. 1 oil producer in the nation and at least parts of four of the seven active shale basins in the country lie within its borders. The Railroad Commission of Texas, the state's energy regulator, reported total crude oil production from August 2016 to July 2017 at nearly 1 billion barrels.For July, the commission said crude oil production averaged 2.43 million bpd, about 6,000 bpd shy of the level from July last year. Commission data don't show production per basin or explain variances.A drilling productivity report from the U.S. Energy Information Administration show production from the Permian basin, the most prolific in ter...
Texas oil and gas sector resilience 'extraordinary'

Texas oil and gas sector resilience 'extraordinary'

Business
Sept. 21 (UPI) -- Even though the price of oil is low by historical stands, a state energy official in Texas said the oil and gas sector there has been extraordinarily resilient.Texas is the No. 1 oil producer in the country and accounts for about a quarter of the total U.S. natural gas production. When oil prices moved below $ 30 last year, the sector faltered as companies spent less on oil and gas production.Christi Craddick, the head of the regulatory Railroad Commission, said producers working in the state have learned, however, to do more with less."Even through the recent downturn, the Texas oil and gas industry has shown extraordinary resilience," she said in a statement. "Because of your ingenuity, we're seeing industry growth today despite the price of oil."The Permian shale basin...
Houston floods: 'Worst not yet over,' says Texas governor

Houston floods: 'Worst not yet over,' says Texas governor

World
Media playback is unsupported on your deviceTexas Governor Greg Abbott has said "the worst is not yet over" for the south-east of the US state, after devastating Tropical Storm Harvey.Rain continues to fall, he said, and flooding in certain areas may last another week. More than 20 people are reported dead and large parts of Houston, Port Arthur and Beaumont are under water. The storm has now moved to neighbouring Louisiana, where flash-flood warnings have been issued. Texas has carried out more than 8,500 rescues and more than 32,000 people remain in shelters throughout the state, Governor Abbott said. Another 10,000 members of the National Guard are said to be on their way, joining the 14,000 already deployed to tackle the disaster. The National Weather Service said the coastal Cedar ...
Houston flood: Trump visits Texas amid 'epic' rainfall

Houston flood: Trump visits Texas amid 'epic' rainfall

World
Media playback is unsupported on your deviceUS President Donald Trump is visiting Texas as the state struggles amid record rainfall from a massive storm.He and First Lady Melania Trump flew to Corpus Christi, where Hurricane Harvey first made landfall on Friday.Governor Greg Abbott said he wanted the president to understand the enormous challenges that Texans faced.Unprecedented flooding has driven thousands of people from their homes, particularly in the Houston area where two dams are overflowing.At least 15 people are reported to have died, including six members of the same family whose van was swept away by rising floodwater, and a man in his 60s who apparently drowned while trying to swim to safety. Rescuers are still trying to reach others that remain stranded after the hurricane, no...