Williams Companies Inc. (NYSE: WMB), a large operator of midstream natural gas facilities, this morning lowered its profit outlook for 2012 and 2013 and raised it for 2014. The company also affirmed its planned…
China’s largest offshore oil and gas company, CNOOC Ltd. (NYSE: CEO), has agreed to acquire Canadian oil and gas firm Nexen Inc. (NYSE: NXY) for $15.1 billion in cash, or $27.50 per share. The…
Crude oil continues to fall. The run is now four days long. Worry about the EU economy and slowdowns in China and the United States has trumped the concern that Iran may try to…
A federal appeals court in Washington, D.C., today ruled that the US EPA’s 2010 rule limiting emissions of sulfur dioxide was valid. The rule had been challenged by a trade group representing, among other…
For the second time this year, a start-up company has shelved a planned IPO. This time its Coskata Inc., an Illinois-based company that manufactures ethanol from any carbon-based material. In April, Canada’s Enerkem Inc. withdrew…
Two of the world’s largest oil field services firms reported earnings this morning: Baker Hughes Inc. (NYSE: BHI) and Schlumberger Ltd. (NYSE: SLB). Both handily beat earnings per share (EPS) and revenue estimates, but…
The U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks rose by a total of 28 billion cubic feet, at the lower end of an expected increase in the 28 billion…
For the first time in nearly two months, WTI crude surged above $90. It is still well short of the $100 level where it traded in early spring. Although some of the events that…
Oil supermajor BP plc (NYSE: BP) announced today that it will begin a 90-day “good faith” negotiating period with its Russian partner in TNK-BP related to the sale of some or all of BP’s…
The Department of Energy is out with its weekly oil and gasoline inventory data and we saw a slight drop in both crude and gasoline inventories. Weekly DOE crude oil stocks fell by 809,000…
Oil prices fell from a nearly two-month high. WTI prices for August delivery were down to $88.55, which is well below the $100 plus range of five months ago. The trigger for the drop…
The American Petroleum Institute reported an increases in oil well completions last quarter–a sign of onging increases in exploration of energy reserves which has been driven higher by shale and relatively high oil prices.…
Oil and gas driller Nabors Industries Ltd. (NYSE: NBR) warned this morning that the company expects second-quarter operating results to miss consensus estimate, mainly as a result of higher costs: The shortfall is attributable…
Gasoline prices have begun to tick up again, although only slightly. It may be only a coincidence that oil prices are rising too. The price for a gallon of regular nationwide was $3.406 yesterday,…
The Strait of Hormuz just became much less important to the transport of oil to countries that import crude. There has been much concern that if the strait was blocked by Iran’s navy in…