Lake Pontchartrain Hit By Oil Spill
Lake Pontchartrain, home to a fragile ecosystem, has begun to see the effects of the oil leak in the Gulf. The lake has already been ravaged by Hurricane Katrina. The presence of oil in…
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Newest first · Page 424BP plc Close To $9 Billion Finance Package, Test Of “The Whale” Goes Nowhere
BP plc (NYSE: BP) got two piece of news today, one much better than the other. The Wall Street Journal reports that the oil company has probably brought in $9 billion in financing, about…
Saudis Will Stop Exploring for More Oil
King Abdullah of Saudi Arabia has reportedly called for a halt to exploring for more oil in the country that already claims the world’s largest deposits of crude. The Saudis claim to have recoverable…
BP Clean-Up Costs Move Above $3 Billion As Company Pushes Partner Payments
BP plc (NYSE: BP) said its costs for the Gulf clean-up of the oil spill have hit $3.12 billion. The company recently demanded that its two partners in the Deepwater Horizon catastrophe pay their…
Oil Leak Likely To Hit Miami
NOAA has made projections of the likely path of the Deepwater Horizon rig spill. The model for the forecasts is based on ocean and weather patterns determined by government agencies. In the technical report…
China Kicks Off Hunt for Shale Gas
Sinopec, officially China Petroleum & Chemical Corp. (NYSE:SNP), has initiated a program to evaluate shale gas deposits in the southern part of the country. Estimates of the size of the potential resource are about…
Oil Races Back Toward $65
The Gulf oil leak and Hurricane Alex are not moving up crude prices. In fact, the price of oil is back below $75 .Oil dropped into the $65 range last September as demand slackened…
As Alex Gains Strength, Gale Force Winds May Hit The BP Clean Up
Tropical storm Alex may become a hurricane in the next 24 to 48 hours. Its most likely path is to hit land near the Texas-Mexico border. Alex may send gale force winds and waves…
BP Can Deny CEO Departure Story, But Fate Already Set (BP)
24/7 Wall St. has had the dubious honor in recent years of picking many CEOs who are likely to go, either by firing, retirement, or by splitting of roles. BP plc (NYSE: BP) denying…
BP May Have Met Its Match In The Weather
BP plc (NYSE: BP) may be close to capturing all the oil coming from the leak of the Deepwater Horizon rig. It caught 28,000 barrels of the rising crude on Saturday. Most estimates put…
Tropical Storm Alex Moves Inland, Threatens The Gulf
Alex, now a tropical storm, with sustained winds of 40 mph, moved inland on the eastern coast of Mexico, and is expected to emerge into the Gulf where warm waters could strengthen the storm.…
UK Prime Minister Fears BP’s “Destruction”
The new UK Prime Minister David Cameron told Canadian broadcaster CBC, “It is … in all our long-term interests that there is some clarity, some finality, to all of this, so that we don’t at…
Foreign Investors Buy Into Shale Gas Play
Earlier this year Pioneer Natural Resources Co. (NYSE:PXD) said that it was seeking bids from potential partners to develop its holdings in the Eagle Ford shale gas play in south Texas. At the time,…
FuelCell Punishes Already-Hurt Shareholders (FCEL)
FuelCell Energy, Inc. (NASDAQ: FCEL) is doing its holders a real disservice after announcing a proposed share sale offering last night. The company makes high-efficiency, ultra-clean power plants using renewable and other fuels. It…
BP Clean Up Costs Rocket Above $2.35 Billion
BP plc’s (NYSE: BP) clean-up costs for the Gulf leak have hit more than $2.35 billion. That only includes expenses to contain the spill and modest payment to area residents and business. The UK-based…