The government of Brazil is asking Chevron Corp. (NYSE: CVX) to stop its drilling program offshore of Brazil following a 2,400 barrel leak. The federal prosecutor is also asking the company to…
US regulators issued five new safety violations to BP plc (NYSE: BP) The actions were in reaction to the Deepwater Horizon accident of nearly 20 months ago which sent an oil slick over…
Producing oil from the vast deposits of the Middle East is getting more expensive. A lot more expensive. Big oil companies like Chevron Corp. (NYSE: CVX), Exxon Mobil Corp. (NYSE: XOM), BP…
The board of Olympus may resign by late February. (Reuters) China says its annual rate of growth slowed between October and November. (Reuters) Congress pressures the CFTC for stronger regulation after the…
Eurozone on notice. The situation in Europe, so promising just days ago, took a sharp turn for the worse. S&P put 17 nations in the euro area on credit watch and said it…
S&P’s threat of a downgrade of eurozone nations puts huge pressure on the region’s leaders. (Reuters) An independent panel that reviewed the financial activity of Olympus suggests legal action be taken. (Reuters)…
BP (NYSE: BP) claims that partner Halliburtong (NYSE: HAL) hide evidence about its role in the Deepwater Horizon incident. Each company faces huge liability because of the explosion of the rig and subsequent oil leak.…
BP plc (NYSE: BP) said high oil prices could cap a worldwide financial recovery. “It is important in the current situation of a fragile global economy and I think right now we…
Douglas A. McIntyre Angela Merkel said the debt solution for the region would be a marathon. French president Sarkozy worried that the eurozone could break apart. The ECB may not be part of a bailout…
As the price differential between WTI and Brent crude oil continues to narrow, with WTI rising and Brent falling, big oil companies should see a gain in their realized prices for crude. This is…
The announcement from Enbridge Inc. (NYSE: ENB) that it would acquire the 50% stake in the Seaway pipeline system owned by ConocoPhillips Corp. (NYSE: COP) and reverse the pipeline’s flow direction, pushed…
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…
There is concern that the new Greek government will not be stable enough to run the nation. (Reuters) As finances in Italy deteriorate, concerns grow about the ability of the government to…
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…
Two major oil refiners have reported third-quarter earnings since the market closed last night. Both posted better-than-expected earnings primarily due to sharply higher refining margins. Western Refining Corp. (NYSE: WNR) reported net…
