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Industry Headlines

Cameron Signs Two Long-Term Transocean Service Agreements

14 HOURS AGO

Cameron, a Schlumberger company, has signed two 10-year pressure control equipment management service contracts on behalf of Transocean valued at greater than $350 million.

The first contract calls for Schlumberger to manage Transocean’s Cameron risers in the Gulf of Mexico. This comprehensive ag...

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Total Valve Systems, Continental Disc/Groth Sign Distributorship Deal

14 HOURS AGO

Total Valve Systems (TVS) announces a new distributorship with Continental Disc (CDC) and Groth Corporation. The two companies will provide customer service and relief & vacuum products to customers worldwide. Total Valve Systems will be responsible for sale and distribution to Oklahoma, Kansas, T...

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Plains All American Expanding Cactus Pipeline Capacity

13 HOURS AGO

Plains All American (PAA) Pipeline, L.P. is expanding the capacity on its Cactus pipeline from McCamey to Gardendale, TX to approximately 390,000 barrels per day. The expansion will allow PAA to move increasing production volumes from the Permian Basin to Corpus Christi and other delivery points along...

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New Investments Spur Permian Oil Production Increase

1 DAY AGO

The Department of Energy (DOE) said on Tuesday that oil production in the Permian Basin could increase by 53,000 bpd by next month. According to the Energy Information Administration (EIA), that is the largest monthly increase in the region in a year.

“The EIA’s first shale oil forecast o...

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Industrial Production Sees Largest Rise in More Than Two Years

1 DAY AGO

Industrial production rose 0.8% in December, the largest increase since November 2014, after falling 0.7% the previous month. For the fourth quarter as a whole, the index slipped 0.6% at an annual rate.

Manufacturing output moved up 0.2% in December, as an increase in durable manufacturing outweighed d...

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IMF Raises U.S. Economic Growth Forecast

2 DAYS AGO

After a lackluster outturn in 2016, economic activity is projected to pick up pace in 2017 and 2018, especially in emerging market and developing economies. However, the International Monetary Fund (IMF) noted in its new World Economic Outlook, there is a wide dispersion of possible outcomes around ...

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Consumer Confidence Increases After Four Consecutive Declines

The Conference Board Consumer Confidence Index, which had declined in June, improved slightly in July. The Index now stands at 65.9, up from 62.7 in June.

Consumers' appraisal of current conditions eased in July. Those claiming business conditions are "good" declined to 13.8% from 14.2%, while those saying business conditions are "bad" decreased to 34.2% from 35.9%. Consumers' assessment of the labor market was also mixed. Those stating jobs are “hard to get" declined to 40.8% from 41.2%, while those claiming jobs are "plentiful" decreased to 7.8% from 8.3%.

On the other hand, consumers were generally more optimistic about the short-term outlook in July. The percentage of consumers expecting business conditions to improve over the next six months rose to 18.9% from 16.0%, while those anticipating business conditions will worsen decreased to 14.6% from 15.8%. Consumers’ outlook for the labor market was also more upbeat in July. Those expecting more jobs in the months ahead increased to 17.6% from 14.8%, while those anticipating fewer jobs edged down to 20.3% from 20.8%. The proportion of consumers expecting an increase in their incomes, however, declined to 14.2% from 15.3%.

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