Anadarko Petroleum Co. (NYSE: APC) and Sonatrach, Algeria’s national oil company, have reached an agreement in a long-standing dispute over the way Sonatrach applied Algeria’s excess profits tax beginning in 2006. From…
Paul Ausick Thailand’s PTTEP PCL has bested a $1.58 billion offer from Royal Dutch Shell plc (NYSE: RDS-A) for British-based Cove Energy PLC. The Thai oil & gas exploration firm has announced a “possible,…
Paul Ausick A panel suggests that Vivus diet drug Qnexa be approved by the FDA. (Reuters) Japan may cut crude oil imports from Iran by 20%. (Reuters) Poor results cause shares of Hewlett-Packard (NYSE: HPQ)…
Royal Dutch Shell plc (NYSE: RDS-A) has reportedly offered $1.58 billion to acquire London-based energy company Cove Energy PLC. The offer is a 73% premium to Cove’s average closing price over the…
Paul Ausick At the end of December, Brent crude spot prices were around $107/barrel and WTI spot prices were around $99/barrel. Since then, Brent has risen to right around $121/barrel today and WTI is…
Now that the Japanese partner of BP plc (NYSE: BP), Mitsui & Co’s MOEX, settled claims against it for its portion of the Macondo well explosion that killed 11 people and dumped…
Two pipeline companies have agreed to a 50-50 joint venture to build a new 149-mile offshore gathering system in the Gulf of Mexico. Enterprise Products Partners L.P. (NYSE: EPD) and Genesis Energy…
Crude oil prices have risen this year, although they have been tapering off in the past couple of months. Pump prices have been driven by the price differential between Brent crude and…
The US Army Corps of Engineers has approved a plan by ConocoPhillips Corp. (NYSE: COP) to develop the first of the hundreds of leased parcels in the National Petroleum Reserve-Alaska. The US…
Korea’s Samsung C&T, the engineering and construction unit of Samsung Group, will pay about $780 million for Parallel Petroleum, a Texas-based company owned by Apollo Global Management LLC (NYSE: APO). Apollo has…
The more that conservationists and politicians talk about fossil energy alternatives, the more oil and coal the nation’s energy companies find. The discoveries will not go on forever, but the U.S. is…
The U.S. Supreme Court will hear arguments about the Obama health care law. (Reuters) Angela Merkel says Europe may face its greatest crisis since World War II. (Reuters) Italy’s Monti will discuss…
Enterprise Products Partners LP (NYSE: EPD) is winning in part from an analyst research call and mostly on its own merits. While the MLP has stalled out in the last couple of weeks,…
It isn’t every day that a $7.1 billion deal falls through. Even rarer is a seller’s reaction that amounts to, “What, me worry?” But that’s what occurred over the weekend as BP…
Chesapeake Energy Corp. (NYSE: CHK) opened about 2% higher this morning following its third-quarter earnings release after markets closed yesterday. The company posted adjusted EPS of $0.72, beating the consensus estimate by…
