ThinkstockOil industry information firm Platts reported today that Chinese demand for crude oil rose 7.7% in December 2012 to an average of 10.58 million barrels a day, the highest on record. The Platts analyst…
ThinkstockBaker Hughes Inc. (NYSE: BHI) reported fourth-quarter and full-year 2012 results before markets opened this morning. The oil field services firm reported adjusted diluted quarterly earnings per share (EPS) of $0.48 on revenues of…
thinkstockLDK Solar Co., Ltd. (NYSE: LDK) has secured new capital from an investor group. The manufacturer of photovoltaic products has entered into a share purchase agreement with Fulai Investments Limited. Fulai has agreed to…
courtesy U.S. State DepartmentGovernor Dave Heineman of Nebraska has sent a letter to President Obama today expressing his approval for the re-worked Keystone XL pipeline project through the state. Heineman’s approval can now be…
ThinkstockBy John C.K. Daly of Oilprice.com In America’s energy industry, batted by last year’s Hurricane Sandy, can be added a new threat — computer malware, an ominous portent for the U.S. power grid. Apparently,…
ThinkstockBy. Daniel J. Graeber of Oilprice.com The Organization of Petroleum Exporting Countries in its report for January said the United States in 2013 may post the highest oil supply increase among non-member states. U.S.…
ThinkstockSpot market prices for liquefied natural gas (LNG) have reached $18 per million BTUs and could go higher this year as supplies of the fuel appear to be softer than many traders had originally…
ThinkstockEarlier this week, Consol Energy Inc. (NYSE: CNX) outlined its investment plans for 2013 and said it would focus more on natural gas production. Today the company released its fourth-quarter operational review, and it…
ThinkstockExploring for crude oil and gas is not cheap, and the smaller companies that are involved in the search often run up against problems with cash flow, credit availability and limited reserves, among many…
thinkstockThe International Energy Agency (IEA) raised its monthly forecast for crude oil demand growth in 2013 by 235,000 barrels a day, from a prior estimate of 865,000 barrels a day to 930,000 barrels a…
ThinkstockSchlumberger Ltd. (NYSE: SLB) reported fourth-quarter and full-year 2012 results before markets opened this morning. The oil field services firm reported adjusted diluted quarterly earnings per share (EPS) of $1.08 on revenues of $11.17…
ThinkstockThe Algeria hostage crisis shows how little it takes in the terms of geopolitical events to cause a spike in oil prices. As problems in the Middle East simmer, along with attacks on oil…
thinkstockCrude oil futures topped $96 a barrel earlier today, the highest price since last September. Rising prices follow today’s reports on new jobless claims and new housing starts, both of which indicate that the…
thinkstockDespite reasonably consistent oil prices and an increasingly favorable overall tolerance for risk, the oil service sector had an ugly year in 2012. After a disastrous first half of the year the sector rallied…
thinkstockThe U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks declined by 148 billion cubic feet last week, above an average expected drop of around 137 billion to 141 billion cubic…