Oil Spill Could Affect Onshore Refineries
The crude oil leak caused by the explosion and sinking of BP plc’s (NYSE:BP) Deepwater Horizon semi-submersible rig continues to pump about 5,000 b/d into the waters of the Gulf of Mexico. BP is…
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Newest first · Page 431China And The Deepwater Horizon: Oil’s Inexorable Move To $100
Oil trades up near $87 today, and it is bound to move toward $100 this month. The estimates for the Deepwater Horizon incident now range as high as 100,000 barrels a day if the…
The Futility Of Oil Spill Cost Estimates
The Wall St. estimates of the cost of the BP Deepwater Horizon oil spill catastrophe are these: Analysts at Morgan Stanley put the figure at $3.5 billion, while analysts at Citigroup, Evolution Securities and Panmure…
New Technology May Cut Oil Leak As Legal Actions Against BP Grow
Experts attempting to slow the flow of oil from the Deepwater Horizon rig collapse may have found a way to slow the pace at which oil reaches the surface of the Gulf of Mexico.…
New NOAA Data Show Rapid Growth Of Gulf Spill, Obama To Visit Site
The pace at which the oil from the collapsed BP rig is spreading accelerated late on April 30. The Coast Guard and Navy are placing “booms” in the Gulf to try to keep the oil…
As Obama Shuts Off-Shore Drilling, Bids Open For Alaska Pipeline
Partners TransCanada Corp. (NYSE:TRP) and Exxon Mobil Corp. (NYSE:XOM) have announced the beginning of a three-month open season for capacity on the proposed Alaska Pipeline. The pipeline, if its built, would carry up to…
Gulf Oil Leak Will Stall Offshore Drilling Expansion
David Axelrod, an adviser to President Obama, said this morning that no new drilling offshore of the US will be authorized until the cause of the explosion and 5,000-b/d leak from the Macondo well…
First Solar Soars, Will It Burn And Fall? (FSLR, SPWRA, JASO, TSL, SOLF, YGE)
Shares in First Solar Inc. (NASDAQ:FSLR) are soaring this morning, following its first quarter earnings report. The PV solar panel maker posted EPS of $2.00, a penny more than a year ago, on revenue…
Refinery Stocks Still Worth Another Look (VLO, MRO, SUN, TSO, HES)
Hell may have frozen over in the world of oil and gas. Shares of oil refinery companies seem to have finally turned a corner. In this aspect, we would be watching Valero Energy Corp.…
China’s Oil Companies Could Help Slow Credit Demands (SNP, COP, CEO, PTR, BP)
Like oil refiners everywhere, China Petroleum and Chemical Co. (NYSE:SNP), better known as Sinopec, had a tough year in 2009. The company’s revenues were down nearly 7%, but EPS was up more than double…
BP Faces Investigation Over Rig Disaster, May Burn Oil Slick
BP plc (NYSE: BP) does not have much choice. It said it will cooperate with a US government investigation into the cause of the disaster at the Transocean drilling rig Deepwater Horizon in Mississippi Canyon Block…
Oil Services and the $40 Billion Iraq Opportunity (SLB, BHI, WFT, HAL, OIH)
Morningstar has issued a report this week for oil services operations calling the opportunity in Iraq as “one of the greatest capacity increases in the industry’s history.” The analysis says that the recent Iraqi…
Canadian Oil Sands: The Race to Secure Energy’s Future
The oil sands deposit in western Canada has been called many things, but Canadian researcher and writer Alastair Sweeney may be the first to call them a “calming, stabilizing force in the world. Sweeney…
Oil’s Next Big Surge
Crude oil prices are back above $85 and seem ready to breach $90. The leg from $69 to $85 which began in February had hit a plateau, but optimism about the global economic recovery…
An Oil Rig Count Disappointment (BHI, OIH, USO, RIG)
The rig counts are not higher this week despite $80+ oil remaining. Baker Hughes Inc. (NYSE: BHI) has issued its weekly rig counting data, and we are watching the Oil Services HOLDRs (NYSE: OIH)…