The effects of Hurricane Ike on the Gulf Coast are still being sorted out, but, so far reported infrastructure damage is light. That may change as producers, refiners, and pipeline operators begin…
According to Reuters, the bailout of Fannie Mae and Freddie Mac (FRE) was greeted with cautious optimism. Reuters says the the Justice Department has hired a litigator to look into antitrust issues…
The SEC has proposed new rules that would permit oil and gas companies to report possible and probable reserves as well as proved reserves when completing their annual 10-K. According to the…
Hurricanes Katrina and Rita in 2005 forced a halt to about 25% of US oil and natural gas production. Now Tropical Storm Gustav, which is predicted to gain hurricane status by the…
Conoco (COP) is selling its gas stations, following Exxon (XOM) out the exit door. Perhaps there is a greater fool; a company that thinks it can make money on a business that…
According to Reuters, the FDIC may have to borrow money from Treasury to see it though a wave of bank failures. Reuters reports that Lehman (LEH) has asked three investment firms to…
Even with oil prices well off of recent highs, these are still very much considered as above historical highs. The large integrated oil companies have experienced either declines or very small gains…
It’s no secret the oil refining margins have been dropping like a rock for the past few quarters. When pump prices began to approach a US-wide average of about $4/gallon, US drivers…
We already noted how Goldman Sachs Group (NYSE: GS) has raised its average oil prices for the years ahead, but the firm has also raised its OIL SERVICES Sector ratings this morning…
Reuters is reporting that ExxonMobil Corp. (NYSE:XOM) plans to sell the 1,400 retail outlets it owns and the 820 it operates over the next several years. The company doesn’t want to fool…
Yesterday, the energy sector gained 1.69%, as money flowed into ExxonMobil (NYSE:XOM), up 2.63%; ConocoPhillips (NYSE:COP), up 3.07%, Transocean (NYSE:RIG), up 3.21%; and Apache (NYSE:APA), up 6.04%. Other big gainers were oilfield…
Oil on last look was up huge at $134.36 per barrel, up $6.58 from yesterday’s gains in what is one of the larger two-day moves in recent trading. Israel’s transportation minister said…
Rockies Express Pipeline, LLC today announced that it has received certification from the FERC for the third and final phase of it’s 1,697-mile, 42-inch natural gas pipeline running from western Wyoming to…
After today’s close, we got to see which stocks that Warren Buffett Held in the Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) as of March 31, 2008. Buffett’s filing cut off date as…
Encana Corporation (NYSE: ECA) has announced that it is splitting the company into two pieces. The plan calls for the company to create an integrated oil company from both upstream and downstream…
