No Change Expected in OPEC Production
ThinkstockOPEC may do the rest of the world a favor. Prices of Brent remain above $100, which many members of the cartel believe are adequate to fund their treasuries. If OPEC decides not to…
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Newest first · Page 339Valero Updates Retail Spin-Off Plans
ThinkstockWhen Valero Energy Corp. (NYSE: VLO) reported second quarter earnings last July, the company said it would seek a tax-efficient spin-off of its retail business. In a presentation to investors today, the company offered…
Keystone XL: Welcome to the Proxy Energy War
ThinkstockNow that elections are over, everyone is waiting for a decision on the Keystone XL pipeline, but it’s not so easy amid the atmosphere of protests that have even traditionally oil-friendly Texans putting up…
Nexen, Progress Energy Sales Approved, Canada Draws a Line in the Sands
ThinkstockAfter markets closed on Friday, Canadian Prime Minister Stephen Harper announced that the government had approved both the $15.1 billion sale of Nexen Inc. (NYSE: NXY) to China’s Cnooc Ltd. (NYSE: CEO) and the…
Conoco 2013 Capex Spending Flat
ThinkstockOil supermajor ConocoPhillips (NYSE: COP) said today that its capital budget for 2013 would be $15.8 billion, approximately flat with 2012 spending. About 60% of the capital spending will be in North America, with…
Investment Bank Lowers Oil Demand Forecast for 2012
ThinkstockU.S. demand for oil in September fell by 5.5% month-over-month and by about 3.8% year-over-year to around 18.35 million barrels a day. For the full year, demand is expected to decline by less than…
Natural Gas Inventory Falls as Expected, Price Stays Flat
thinkstockThe U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks fell by a total of 73 billion cubic feet last week, right in the middle of an expected withdrawal range of…
Chevron’s Australian LNG Project Costs Jump
courtesy of Chevron Corp.Converting natural gas to liquefied natural gas (LNG) is very expensive and getting more so. Chevron Corp. (NYSE: CVX) last night said that its Gorgon LNG project offshore of Western Australian…
LNG Exports to Bolster the Economy
ThinkstockOne of the most plentiful resources we have in the United States is our huge above and below ground supplies of natural gas. Data from more than 24,000 recently drilled wells show the U.S.…
Gasoline Prices Are Still Dropping
ThinkstockGasoline prices have moved back almost to where they were a year ago. That means the drag of fuel prices on the economy becomes increasingly less likely. Only a few months ago, the nationwide…
Offshore Wind Leases Go On Sale
The U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has announced the first ever competitive lease sale of two offshore wind energy areas in federal waters. A date for the sale…
Crude Supply Falls, Gasoline Inventory Soars Again
The US Energy Information Administration (EIA) released its weekly petroleum status report this morning. US commercial crude inventories declined by 2.4 million barrels last week, bringing the total US commercial crude inventory to 371.8…
Freeport-McMoRan Returns to the Energy Business
At least one big mining firm has made acquisitions in the energy field in an effort to boost profits in the face of a slowdown in demand for mined materials. BHP Billiton PLC (NYSE:…
A Big Stride for U.S. Energy Independence
Recently, energy expects have argued that the United States might become independent from the need to import energy, or at least energy-producing fuels, from abroad. The time frame for this occurring varies, but a date two…
Exxon Mobil 2013 Compensation Shows Higher Pay At The Top
Exxon Mobil Corporation (NYSE: XOM) is out with its 2012 bonuses and its 2013 pay packages. Chairman and CEO Rex Tillerson is getting a 6% raise as he will make $2.717 million in 2013. Stephen…