Shell Gets Its Way in Mozambique (RDS-A, APC)
Oil supermajor Royal Dutch Shell plc (NYSE: RDS-A) has finally nabbed British-based Cove Energy PLC in a deal worth $1.8 billion. In late February shell made an offer of $1.58 billion for the firm,…
Energy
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Newest first · Page 374Investor Losses Keep Coming With Earth Day (FSLR, LDK, STP, SPWR)
We have recently noted how the solar sector is not just in a bad place… It is in jeopardy. This last Sunday was Earth Day but please do not bother telling that to investors. …
Gas Prices Finally Fall
Gasoline prices dropped for the first time this year, according to the carefully followed Lundberg Survey . The service reports that the average price for a gallon of regular fell to $3.91 over the…
Schlumberger Escapes The Earnings Hangman (SLB, OIH)
Schlumberger Limited (NYSE: SLB) has managed to beat earnings and probably put some fears to rest in the oil services businesses. Many key companies in this sector have seen their shares battered and many…
Natural Gas Inventories Jump Again, Price Dives
The US Energy Information Administration today reported the US natural gas stocks rose by a total of 25 billion cubic feet, well above the 8 billion cubic feet increase that analysts had expected. Natural…
Exxon Banned from Iraqi Energy Auction (XOM, RDS-A, CVX, OXY, TOT, BP, E)
The government of Iraq will prohibit Exxon Mobil Corp. (NYSE: XOM) from participating in the May auction of new leases because the US company last year signed six leases for exploration in Kurdistan without…
The Shameful State of Chesapeake’s Board (CHK, BRK-A, UNP, NOV)
The revelation that the CEO of Chesapeake Energy Corp. (NYSE: CHK), Aubrey McClendon, was borrowing money from a private equity firm that did business with Chesapeake to finance his personal stake (2.5%) in the…
Oil Races Down Toward $100 a Barrel
The price of West Texas Intermediate crude has begun to teeter down toward $100, after nearly three months above that level. With it the price of gasoline and anxiety about the negative effects on…
Gas Below $3.90
Gas dipped below $3.90 based on the AAA assessment of the average price for a gallon of regular nationwide. The price yesterday was $3.891, down from $3.899 the day before and $3.907 a week…
Exxon’s Deal with Russia Worth $500 Billion (XOM, BP, RDS-A, STO)
Exxon Mobil Corp. (NYSE: XOM) and Russia’s state-controlled oil company Rosneft have revealed some details of a recent deal the two signed which could result in a total investment of $500 billion. The agreement…
US Petroleum Inventories Rise, Imports Rise Modestly
The US Energy Information Administration (EIA) released its weekly petroleum status report this morning. US commercial crude inventories increased by 3.9 million barrels last week, bringing the total US commercial crude inventory to 369…
Chesapeake CEO Fails to Disclose $1.1 Billion in Loans — Reuters (CHK)
Chesapeake Energy Corp. (NYSE: CHK) CEO Aubrey McClendon has received loans totaling $1.1 billion in the last three years backed by his share in Chesapeake’s wells. Under the terms of his employment contract, McClendon…
The Forces of Green Attack Cloud Computing
Greenpeace is worried that the huge new cloud computing industry will rely on old sources of energy. The growth and size of these IT infrastructures in not only large, it is growing as fast as…
Delta Deal for Conoco Refinery Getting Closer (DAL, COP, JPM)
A couple of weeks ago there were press reports that Delta Air Lines Inc. (NYSE: DAL) was contemplating the acquisition of one of three idled Eastern US refineries, with the most likely being the…
Chesapeake Files Registration for Spin-off (CHK, GS, BAC)
Chesapeake Energy Corp. (NYSE: CHK) will spin-off its wholly-owned oilfield services business into a new company to be called Chesapeake Oilfield Services Inc., which will trade on the NYSE under the stock symbol ‘COS’.…