Chesapeake Looking to China Buyer (CHK, SNP, CEO, DVN)
An asset sale to a Chinese buyer would not be a first for Chesapeake Energy Co. (NYSE: CHK), but if a reported deal does happen, it would likely be the largest such deal the…
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Newest first · Page 365Gulf of Mexico Lease Sale Nets $2.6 Billion (XOM, COP, CVX, APA, RDS-A, APC, NBL, BP, BHP, STO)
The US Department of Interior’s Bureau of Ocean Energy Management (BOEM) yesterday held a lease sale for 39 million acres of US outer continental shelf open for development. The total of all bids came…
Oil Prices Tumble
WTI crude prices raced lower, toward $80. That is down from above $108 just four months ago. China’s manufacturing data and an admission by the Federal Reserve of an economic slowdown in the United…
Little Guy Beats Up Big Guys in Alternative Fuel Race, Shares Skyrocket (GEVO, DD, BP, TOT)
Biofuels maker Gevo Inc. (NASDAQ: GEVO) is seeing its share price skyrocket today following a court ruling that the company probably did not infringe on a competitor’s patents. Gevo is now free to sell…
Crude Tanker Rates to Rise on OPEC Decision (FRO, SFL, NAT, OSG, TNK, TNP)
Last week’s decision by OPEC to continue to produce crude oil at the cartel’s official quota level of 30 million barrels/day had the knock-on effect of emboldening tanker operators to raise shipping rates for…
Big Oil Inventory Build Shakes Up Oil & Gas Sector (USO, UGA, PSX, VLO, OIH)
The Department of Energy is out with its weekly oil and gasoline inventory data and this is going to likely move the markets. Crude oil stocks managed to build up by a whopping 2.86…
Chesapeake Fires Handful of Staff, Stock Price Jumps
Chesapeake Energy Corp. (NYSE: CHK) today eliminated about 70 jobs at its operations in North Texas around the Barnett shale play. That’s about 8% of the company’s workforce in the area and around 0.5%…
Weatherford Scores Iraqi Contract (WFT, SLB, E, OXY)
Oil field services company Weatherford International Ltd. (NYSE: WFT) has won a contract worth $843 million to build six crude oil production facilities at Iraq’s Zubair field in the south of the country. Weatherford…
Finally Some Good Developments For Petrobras (PBR, BP, XOM, CVX)
Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, has been one painful oil stock for investors. In some cases, the ride has been even worse than the wealth destruction brought on by oil giant BP…
The Making of Kurdistan: Oil, Investment and a Turkish Gamble
As tensions rise among Iraqi Kurds in the country’s north, Sunnis in the south and the Shi’ite-led government in Baghdad over the distribution of natural resources, Turkey is setting its sights on an unconventional…
Nat-Gas Recovery Brings Only Mixed Trading In Stocks (UNG, UGAZ, DVN, ECA, WPRT, CLNE, CHK)
So what if oil is trading lower. Traders and investors have voted that they believe the bottom has finally been seen in natural gas, at least for the time being. Natural gas is higher…
China’s Filling Strategic Oil Reserve at Huge Cost
China imported about 6 million barrels/day of crude oil in May, up 10% over April imports. But the country did not increase its refineries inputs at all, leading some analysts to conclude that China…
Ford Touts Sustainability Gains (F, GM, TM)
Automaker Ford Motor Co. (NYSE: F) today released its annual sustainability report, claiming a 22% reduction in energy used to build cars over the past 6 years and a plan to cut another 25%…
Is Oil Refining a Zombie Industry? (DAL, PSX, VLO, MPC, TSO, HFC, WNR, CVI, CG, XOM, CVX, BP, PBR)
When Delta Air Lines Co. (NYSE: DAL) agreed to buy an oil refinery from Phillips 66 (NYSE: PSX), the transaction underscored a shift that has been taking place in refinery ownership. Pure refiners like…
Natural Gas Inventories Rise, Price Remains Flat (XOM, CHK, EOG, UNG, OIH)
The US Energy Information Administration today reported the US natural gas stocks rose by a total of 67 billion cubic feet, below the 73 billion cubic feet increase that analysts had expected. Natural gas…