One of the largest crude oil refiners in the US, Tesoro Corp. (NYSE: TSO), this morning lowered its earnings guidance for the fourth quarter, projecting a loss of -$0.55 to -$0.80. The…
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…
Bill Gross’s PIMCO Total Return Fund has $1.4 billion in outflows in December, according to Morningstar. (Reuters) MF Global sold some assets to Goldman Sachs (NYSE: GS) before its collapsed. (Reuters) As…
BP plc (NYSE: BP) has halted payment from its Gulf Coast Claims Facility. The fund was set, under pressure from the US governemnt, to provide as much as $20 billion for Gulf…
Douglas A. McIntyre In yet another of the deals that shakes up the landscape of US shale gas production, Chesapeake Energy Corp. (NYSE: CHK) has formed a joint venture with Total SA (NYSE: TOT) and…
In 2007, the Venezuela government expropriated the Cerro Negro project owned by Exxon Mobil Corp. (NYSE: XOM) after the US oil giant refused to take a minority stake in the project. ConocoPhillips…
The markets will await several critical pieces of data over the next several days. Stocks likely will not move much until this information is out. December car sales will show whether consumers…
Wall St. expects same-store sales for December to rise 4.3%. (Reuters) Returns of holiday online gifts are expect to reach a record. (Reuters) Venezuela says it will pay Exxon Mobil (NYSE: XOM)…
After nearly 13 years of effort, BP plc (NYSE: BP) has decided to walk away from its joint venture with Russia’s OAO Rosneft to develop the Sakhalin-5 project. The company said that…
Alibaba hires a Washington lobbying firm in case it decides to bid for all of Yahoo! (NASDAQ: YHOO). (Reuters) Italian yields may fall because of European Central Bank injections of long-term funds…
In August 2006, a pipeline owned by BP plc (NYSE: BP) ruptured and spilled more than 5,000 barrels of crude oil on Alaska’s North Slope. The company pleaded guilty to a misdemeanor…
Paul Ausick Obama nominates Jeremy Stein and Jerome Powell to take seats at the Federal Reserve. (Reuters) New York Times (NYSE: NYT) sells its regional media group for $143 million. (Reuters) The U.S. Treasury…
When Iraq began offering leases to its vast oil deposits a couple of years ago, there weren’t a lot of big oil companies lined up to buy in. Iraq’s offer of reimbursing…
In September 2010, BP plc (NYSE: BP) fired 320 workers at its solar panel-making operation in Maryland because it could not compete with manufacturers like First Solar Inc. (NASDAQ: FSLR), SunPower Corp.…
A small leak in a line feeding drilling fluid to a well owned and operated by Royal Dutch Shell (NYSE: RDS-A) and using a rig owned by Transocean Ltd. (NYSE: RIG) has…