Two Contractors Missing in Chevron Fire
January 17 2012 9:05 AM
Two individuals working on an exploration well off the coast of Nigeria are still unaccounted for following a fire that took place on one of the company's rigs.
Venezuela Oil Minister Confirms Nation's Exit from Arbitration Body
January 16 2012 6:21 PM
Venezuela's Oil Minister Rafael Ramirez said on Sunday his country intends to exit the World Bank's arbitration hearing against ExxonMobil.
Oil India in Talks to Buy Stake in U.S. Shale Leases
January 16 2012 12:44 PM
ConocoPhillips is said to be in talks with the sub-continent oil company, and could sell some of its land leases in South Texas.
IBT 1000: A Rising Star on China's Seas, Brightoil Petroleum Shows Meteoric Growth in Three Years.
January 13 2012 2:49 PM
As energy prices rise, high profits and revenue margins are expected by oil and natural gas companies throughout the world, but astronomical revenues -- in the realm of millions to billions in three years -- would make anyone sit a little straighter and pay attention.
Gulf Oil Drilling Moratorium, 'Permitorium' to Cost Nation $24B, Industry Says
January 11 2012 3:30 PM
Since Deepwater Horizon, a longer permitting processes and the drilling moratorium in the Gulf of Mexico is projected to cost the U.S. more than $24 billion in lost investment, says a report from the American Petroleum Institute.
Icahn Drops Bid to Takeover Commercial Metals
January 11 2012 11:20 AM
Billionaire investor Carl Icahn on Wednesday dropped his $1.73 billion hostile bid for Commercial Metals Co (CMC.N) after failing to pick up support among the metal company's other shareholders.
Alcoa Posts Q4 Loss but Gives Positive Aluminum Outlook
January 09 2012 9:00 PM
Alcoa Inc posted a fourth-quarter loss Monday due to a steep plunge in aluminum prices, but its revenue beat expectations and the company gave a positive outlook for global demand for the metal, especially in the aerospace and automotive markets.
Alcoa Shares Could Rise 30% in 2012: Report
January 08 2012 1:00 PM
Alcoa Inc. shares could rise by as much as 30 percent in 2012 as weak aluminum prices may have bottomed while demand for the metal remains strong, financial weekly Barron's reported on Sunday.
Credit Suisse Gets Dutch Mandate on Urenco: Sources
January 07 2012 2:35 AM
The Dutch government has appointed Credit Suisse to advise on a potential sale of its 33 percent stake in UK-based uranium enrichment company Urenco, people familiar with the situation told Reuters on Friday.
Auto Steelmaker Severstal Will Not Get U.S. DOE Loan
January 06 2012 10:35 PM
The Obama administration on Friday opted against closing a loan of as much as $730 million for steelmaker Severstal North America, whose financing bid to expand a plant for auto-steel production drew the attention of congressional investigators looking at U.S. Energy Department loan programs.
- Corning Shares Barely Budge After Announcing New Gorilla Glass 2 for Tablets
January 06 2012 10:24 AM
Shares of venerable glassmaker Corning rose after the company said it plans to introduce Gorilla Glass 2, a new generation of highly durable glass, at next week’s Consumer Electronics Show.
Alcoa to Curtail and Close 12% of Production
January 05 2012 5:56 PM
More than half of the company's announced cut backs are taking place in the United States. Company officials intend to permanently close its smelting operations in Alcoa, Tenn., as well as two of six idled potlines in Rockdale, Texas.
Santorum Rises to Third in New Hampshire Poll, at 8%
January 05 2012 4:59 PM
Rick Santorum is gaining ground in New Hampshire, but rival Mitt Romney still holds a strong lead ahead of Tuesday's primary, a poll released Thursday shows
Gold Mining Stocks Slightly up on Choppy Trading
January 05 2012 3:27 PM
Gold mining stocks fluctuated around the unchanged mark during regular-session trading on Thursday, as miners tracked the price of physical gold, which saw some choppy trading itself.
ExxonMobil In Talks to Sell Stake in Japan's No. 2 Refiner
January 05 2012 10:32 AM
Stocks of Japanese oil refiner TonenGeneral Sekiyu KK keeps dropping following an announcement that ExxonMobil Corp., is considering selling its majority shares of that company.
- Mosaic Quarterly Earnings Beat Street's Forecast
January 04 2012 7:28 PM
Fertilizer producer Mosaic
posted a higher-than-expected quarterly profit as higher prices helped offset a dip in phosphate sales and flat potash volumes.
U.S. Can be Self-Sufficient in Liquid Fuels in 15 Years - API
January 04 2012 6:09 PM
The United States can be entirely self sufficient in liquid fuels in the next 15 years if more federal lands are opened up to oil and natural gas exploration and drilling.
Shell Battles Second Pipeline Leak in Nigeria in Recent Weeks
January 04 2012 12:45 PM
Royal Dutch Shell officials announced they are working to patch a second oil leak in Nigeria, which they attribute to sabotage.
Chevron Loses Appeal, Must Pay $18 Billion for Amazon Pollution
January 04 2012 11:59 AM
Chevron Corp. Tuesday night lost a judicial appeal against $18 billion in fines the company is being asked to pay by authorities in Ecuador. The company denies the charges and says the court ruling is the product of fraud and corruption.
Third Fine Levied Against Chevron Following Brazil Oil Leak
January 03 2012 3:14 PM
Chevron officials say new allegations levied against the U.S. oil company by Brazil's oil regulator ANP will be examined, following ANP's holiday imposition of a third fine following a November oil leak.