BP Slapped with Massive Fine and Pleads Guilty to 11 Felony Counts
courtesy of BP plcBP plc (NYSE: BP) has agreed to pay a total of $4.5 billion dollars and to plead guilty to 11 felony charges in a criminal case brought by the U.S. Department…
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Newest first · Page 342Crude Inventories Rise, Gasoline Declines, Prices Up a Little
ThinkstockThe US Energy Information Administration (EIA) released its weekly petroleum status report this morning. US commercial crude inventories rose by 1.1 million barrels last week, bringing the total US commercial crude inventory to 375.9…
Natural Gas Inventory Declines as Cold Weather Sets In
thinkstockThe U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks declined by a total of 18 billion cubic feet, more than the 14 billion cubic feet decline that analysts were expecting.…
Update: BBC Reports BP Fine $3 Billion to $5 Billion
courtesy of BP plcA report at the BBC claims the fine against BP PLC (NYSE: BP) in the settlement of criminal charges related to the explosion of the Deepwater Horizon in 2010 will be…
A Record Fine on the Table for BP
courtesy of BP plcThe U.S. Department of Justice and BP PLC (NYSE: BP) have reportedly reached an agreement on the penalties the company will face related to the blowout of its Macondo well in…
BP’s Deal with the Justice Department
ThinkstockThe Wall Street Journal and Reuters have published accounts of a settlement between the Justice Department and BP PLC (NYSE: BP) over the Deepwater Horizon catastrophe. BP has already spent tens of billions of…
Blackstone Now Wants All Portfolio Companies To Go Solar
thinkstockWith this being just after the election, you have to wonder about the timing even if it does make sense. Blackstone Group LP (NYSE: BX) announced on Wednesday that it is embarking on a…
Utica Shale’s Hopes Dimmed at Chesapeake
courtesy Chesapeake Energy Corp.Aubrey McClendon, co-founder and CEO of Chesapeake Energy Corp. (NYSE: CHK) told an investor conference yesterday that the Utica shale play in eastern Ohio is unlikely to be a location “where…
Shell to Spend Big on Natural Gas
thinkstockAnglo-Dutch oil supermajor Royal Dutch Shell plc (NYSE: RDS-A) said today that it plans to invest more than $20 billion by 2015 in the company’s Integrated Gas business. The company claims to produce 22…
MLP Sector Feels Wrath of Tax-Selling & Dividend Selling (AMJ, AMLP, EPD, KMP, KYN, SRV)
ThinkstockTechnically, the payouts from Master Limited Partnerships (MLPs) are distributions which include a substantial portion being a return of capital rather than just income. If these payouts are not dividends they should be mostly…
IEA Monthly Report Cuts Crude Demand Estimate
ThinkstockThe International Energy Agency released its monthly Oil Market Report for November today and the agency has cut its fourth quarter demand estimate by 290,000 barrels a day from the October report’s estimate of…
GE Goes Further in LNG with Clean Energy (GE, CLNE)
thinkstockGeneral Electric Co. (NYSE: GE) and Clean Energy Fuels Corp. (NASDAQ: CLNE) have announced a collaboration to expand the infrastructure for natural gas transportation. As it turns out, the agreement was signed on November…
Weatherford on Track for New Low After Earnings
ThinkstockWeatherford International Inc. (NYSE: WFT) reported third-quarter 2012 results after markets closed last night. For the quarter, the oil field services company posted revenues of $3.82 billion. In the same period a year ago,…
Massive LNG Projects Get More Expensive (XOM, RDS-A, CVX, BHP, CHK, COP, BP, TRP, CQP)
thinkstockAustralia has been a center of development for liquefied natural gas (LNG) development for several years now, and the first wave of projects are scheduled to be operational in 2014. But as with all…
IEA: Future Crude Production Keyed to U.S., Iraq
courtesy of the IEAThe International Energy Agency (IEA) released its latest World Energy Outlook today with the headline projection that by 2020 the United States will be the world’s leading oil producing nation. The…