Conoco Sells Caspian Sea Stake
ThinkstockConocoPhillips (NYSE: COP) announced this morning that it is selling its 8.4% stake in a production sharing agreement in the north Caspian Sea for about $4.9 billion. The carrying value of Conoco’s share in…
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Newest first · Page 341BP Reorganizing Production Operations — Reuters
courtesy of BP plcOil supermajor BP PLC (NYSE: BP) is reorganizing its oil and gas production operations for the second time since the explosion at its Macondo well in the Gulf of Mexico killed…
Natural Gas Inventory Declines More than Expected
thinkstockThe U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks declined by a total of 38 billion cubic feet, more than the 28 billion cubic feet decline that analysts were expecting.…
Crude, Gasoline Inventories Decline Sharply
ThinkstockThe US Energy Information Administration (EIA) released its weekly petroleum status report this morning. US commercial crude inventories declined by 1.5 million barrels last week, bringing the total US commercial crude inventory to 374.5…
Chevron Seeks Investigation of NY Official in $18 Billion Ecuadoran Case
courtesy of Chevron Corp.Chevron Corp. (NYSE: CVX) has filed a complaint with the state of New York seeking an investigation into the actions of the state’s comptroller, Thomas DiNapoli, and other members of his…
Brent Crude Set to Take Over as Global Standard
ThinkstockThe long-standing reign of West Texas Intermediate (WTI) crude as the international benchmark for crude oil pricing has been eroding for a couple of years. Now, there is a virtual certainty that WTI will…
Alon USA Partners Sees IPO Premium
ThinkstockAlon USA Energy Inc. (NYSE: ALJ) is enjoying a gain for its Alon USA Partners L.P. (NYSE: ALDW) initial public offering. The limited partnership was priced with 10,000,000 common units at $16 per unit.…
Ford Sells 2,000 Electric Vehicles to GE
courtesy Ford Motor Co.Ford Motor Co. (NYSE: F) and General Electric Co. (NYSE: GE) today announced that GE will purchase 2,000 of Ford’s C-Max Energi plug-in hybrids for GE’s fleet. The purchase will bring…
Total, Sinopec in $2.5 Billion Nigerian Oil Field Deal
ThinkstockFrance’s Total S.A. (NYSE: TOT) announced this morning that it has sold its 20% stake in an offshore Nigerian oil block to subsidiary of China Petrochemical Corp. (NYSE: SNP), or Sinopec, for $2.5 billion.…
Falling Gasoline Prices Provide Relief to American Drivers
ThinkstockGasoline prices have fallen again, based on the two most important measures, and the drop continues to accelerate. The famous Lundberg Survey reported a drop of 7.26 cents in the past two weeks to…
Two Dead, Two Missing in Gulf Oil Rig Fire
ThinkstockA shallow-water oil platform of the coast of Louisiana caught fire this morning and Houston TV station KHOU is reporting that two workers are dead and two more are missing. The U.S. Coast Guard…
California Watchdog Group Accuses Refiners of Lying (TSO, BP, CVX, RDS-A)
ThinkstockWhen California gasoline prices topped $5 a gallon early last month, the state’s big refiners said they were performing maintenance at some of the plants and a couple were recovering from forced shutdowns due…
JA Solar Has to Stoop to a Reverse Stock Split
thinkstockWhat you are about to read is a sneaky way of announcing a reverse stock split to stay within the listing standards of the $1.00 share price rule. JA Solar Holdings Co. Ltd. (NASDAQ:…
Applied Materials Takes Big Writedowns, Beats Estimates
ThinkstockApplied Materials Inc. (NASDAQ: AMAT) reported fourth fiscal quarter 2012 earnings after markets closed today. For the quarter, the semiconductor manufacturing equipment maker posted adjusted diluted earnings per share (EPS) of $0.06 and revenues…
Update: BP Employees Charged with Manslaughter in Gulf Disaster
courtesy of BP plcIn a press conference this afternoon, the U.S. Department of Justice said that two employees of BP plc (NYSE: BP) will be charged in a 23-count criminal indictment with manslaughter and…