- 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.
- Chinese Court Accepts $78M Oil Spill-Related Lawsuit against ConocoPhillips
January 03 2012 1:45 PM
A Chinese court is allowing a $78 million lawsuit brought against ConocoPhillips (NYSE:COP) to move forward, after having dismissed a similar lawsuit in 2011, the state-run Xinhua News Agency reported Friday. The action is being brought by local aquaculture farmers who believe their sea cucumbers were killed by the oil spill.
- ExxonMobil Not Finished With Venezuelan Arbitration; Could Win $7 Billion
January 03 2012 12:31 PM
ExxonMobil continues to aggressively contend a Venezuelan decision that undervalues the assets in oil fields and refineries seized by the government of President Hugo Chavez.
- Say Goodbye to U.S. Ethanol Tax Breaks and Tariffs
December 30 2011 5:51 PM
On Saturday, the United State's tax credit and tariff on ethanol is set to expire, and that makes Brazilian ethanol producers and sugarcane growers very happy.
- Petrobras and Partners Announce the Commerciality of Billion-Barrel Oil Field
December 30 2011 4:32 PM
The new field was originally drilled in 2008, said the Brazilian company, and is expected to hold 2.1 billion barrels of oil. The new field, Sapinhoá is located offshore in ultra-deep regions of the South Atlantic.
- Chinese Oil Company CNOOC to Launch a Research Fund after Oil Spill
December 30 2011 12:02 PM
China National Offshore Oil Corp. announced that it intends to set up an environmental protection fund of its own, months after ConocoPhillips said in September it intended to compensate local Chinese communities and pay for environmental damage following a spill at one of the company's offshore rigs in Northern China.
- Analysis: Mosaic May Have Won Skirmish in Fertilizer Wars
December 29 2011 6:14 PM
Mosaic, a leading North American fertilizer producer, may have won the battle to arrest a plunge in phosphate prices ahead the region's spring planting season, but it still risks losing the war as overseas capacity surges in the coming years.
- Chesapeake Energy Accused of Hiding Behind Shell Companies to Avoid Honoring Land Deals
December 28 2011 8:35 PM
Chesapeake Energy Corp. is being accused of hiding behind shell companies to avoid honoring land leases the company signed and then cancelled over the course of 2010.
- BP's Probation in Alaska Comes to an End
December 28 2011 10:32 AM
A federal judge in Anchorage Tuesday terminated BP Exploration's probation years after an oil pipeline rupture took place this past decade.
- Chinese Company CNCP First to Produce Afghan Oil in Decade
December 27 2011 1:25 PM
In what will be the Afghanistan's first international project in a decade, officials in Kabul approved an oil exploration deal with China's state-owned National Petroleum Corporation (CNCP).
- Shell Nigeria Officials Claim Oil Spill Is Stopped
December 27 2011 10:57 AM
Company officials claimed victory over the spill on Christmas day, citing the company's robust response brought a swift end to the spill first reported two weeks ago.
- Shell's Nigeria Oil Spill Caused By Failed Underwater Pipeline
December 23 2011 11:30 AM
Images from an underwater vehicle proved the company's original fears that the 40,000 barrel leak sprung during the transfer of crude oil from a floating storage facility to an awaiting cargo tanker.
- 6 Investment Themes for 2012: Fund Managers
December 23 2011 8:49 AM
With less than two weeks left in 2011, investors are looking at challenges and opportunities ahead to better position themselves for the coming year.
- Shell's Nigeria Spill Could Be Worst In Decade for the Country
December 22 2011 12:51 PM
Nigerian officials said they expect oil leaked from a Royal Dutch Shell offshore well to reach the country's shores Thursday. Shell officials suspect half of the estimated 40,000 barrels of oil leaked in the Atlantic this week have already naturally dissipated or evaporated.
- Could Shell and ConocoPhillips' Artic Foray Revive Alaska's Oil Industry?
December 22 2011 10:35 AM
Interest in arctic oil has climbed in recent years when industry, government and third party researchers independently made realizations that the amount of recoverable world-class oil deposits was greater than previously thought. That has yet to be properly tested with a drill bit.
- Top 10 Market Predictions for 2012
December 22 2011 8:49 AM
The fact is everyone in the financial services or wealth management business has thought about what they feel the markets will do next year. Following are the 10 market predictions for 2012 from Oliver Pursche, co-portfolio manager of GMG Defensive Beta Fund.
- New ConocoPhillips and Shell Arctic Oil Permits Raising Alarms
December 21 2011 9:07 PM
Environmentalists fear oil prospecting in the region will lead to oil discoveries, prompting greater interest in the Arctic oil found underneath sensitive and hard-to-reach areas like ice-locked seas, and further endangering regional ecosystems.
- Five Investment Tips for the Ages
December 21 2011 12:16 PM
To be sure, it's not a U.S. stock market for rookies, or the squeamish -- it's a market that also can bring out the reactive in even the most experienced investor. Hence with the above in mind, here are 5 time-tested axioms that every investor should keep close by.
- How Do You Steal An Oil Field? Norex Suit Against Russian Billionaires Alleges Plot
December 20 2011 5:21 PM
The story that will follow is one of corporate machinations, armed strongmen storming a Siberian oil field and an office headquarters, corruption and ludicrous amounts of money.
- Shell Abandons Rig After Gulf Coast Leak
December 20 2011 11:35 AM
Shell confirmed the loss of 319 barrels of drilling fluids from a booster line, which is separated from the actual well bore but provides additional drilling fluids. The company has decided to temporarily abandon the well in order to make needed repairs. The source of the leak is not yet disclosed.