Oil

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  1. Falling prices could mean Kern oilfield layoffs

    BY JOHN COX The Bakersfield Californian
    Saturday, Dec 20 2014 08:00 PM

    Plummeting oil prices have raised the likelihood of sizable layoffs in Kern County's petroleum industry early next year as producers facing sharply lower revenues scale back on drilling and other labor-intensive operations.

    While relatively few job cuts have been reported since oil prices started their free fall in June, local industry insiders say large reductions will probably hit in January, when most producers transition to annual budgets drawn up in the most volatile pricing environment in years.

    "We'll see substantial cuts," veteran Taft oilman Fred Holmes said. "It's going to affect a lot of jobs." Assuming prices don't rebound significantly in the next few weeks, the main question becomes how widespread the layoffs will be.

  2. OilTrain6.JPG

    State clashes with railroads over handling of oil train information

    On the day before Thanksgiving, officials at Kern County's Taft fire station got a phone call advising them that a mile-long oil train would be arriving at a nearby pipeline terminal the next day. As important as that notification may...

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    Texas-to-Kern oil pipeline proposal resurfaces

    Houston-based Kinder Morgan is rekindling discussions aimed at opening a 200,000-barrel-per-day oil pipeline from Texas's Permian Basin to southwestern Kern County. A company executive brought up the proposal, dubbed the Freedom Pipeline,...

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    They're here: Oil pipeline terminal near Bakersfield receives first train shipment

    The unit trains have arrived. A mile-long train carrying some 70,000 barrels of oil sat waiting to be offloaded Tuesday near the new Plains All American Pipeline LP rail terminal about 30 miles southwest of Bakersfield. Nearby, scores of...

  5. Environmental group pushes to close oil wastewater sumps

    In the latest salvo targeting California's petroleum industry, an environmental activist group called Tuesday for a statewide ban on the practice of using unlined sumps to dispose of water that comes up from the ground along with crude oil...

  6. Baker Hughes Halliburton

    Local oil industry wonders about Halliburton-Baker Hughes deal

    Halliburton's proposed acquisition of Baker Hughes drew a cautious response Monday from members of Kern County's oil industry, where some worried about the agreement's impact on prices and quality of oil field services even as others saw...

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    Halliburton to buy Baker Hughes for about $35 billion

    Halliburton Co. said on Monday it will buy Baker Hughes Inc. for about $35 billion in cash and stock, creating an oilfield services behemoth to take on market leader Schlumberger NV as customers curb spending on falling oil prices....

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    Baker Hughes says in preliminary merger talks with rival Halliburton

    Oilfield services provider Baker Hughes Inc said on Thursday it is in preliminary merger talks with its larger rival Halliburton Co, though any potential deal would likely face antitrust concerns. Two people familiar with the matter, who...

  9. Chad Hathaway

    Kern oil producer suit alleges state inaction on disposal well paperwork

    A local petroleum producer's recent lawsuit accuses state regulators of refusing to process its application for a Kern County injection well that would dispose of water that comes up from the ground along with crude oil. The suit...

  10. alon_1_fa.JPG

    Alon backs off plan to reopen refinery

    In a shift with implications for more than 100 good, local jobs, Alon USA Energy Inc. recently announced it might not restart its refinery on Rosedale Highway, even as it pledged to open a controversial oil-by-train facility at the plant...

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    County defeats Chevron in landmark tax case

    Kern County scored an important court victory against Chevron USA Inc. this week in a landmark property tax case that had threatened a key source of local government funding. A state appeals court ruling issued Tuesday supported the...

  12. occidental_fa.JPG

    Oxy subsidiary posts 20 percent earnings drop despite record California oil production

    Despite record oil production, Occidental Petroleum Corp.'s California subsidiary on Wednesday posted a 20 percent third-quarter earnings drop attributed to higher energy costs. The report was the first earnings release from California...

  13. Sacramento crude oil transfers halted by lawsuit

    Faced with an environmental lawsuit, a Sacramento-based oil company has agreed to stop loading train shipments of crude oil at a city business park, officials involved in the dispute said. InterState Oil Co. said in a letter today to...

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