- 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.
- U.S. Solar Power Equipment Trade Row with China Spreads to India
December 19 2011 11:06 PM
India could be the latest country to join a growing solar power trade dispute between the United States and China. However, the country does not look to favor either of the two sides.
- Brazil Reports Another Oil Spill Near Rio de Janiero
December 19 2011 5:35 PM
Roughly 2,600 gallons of oil have leaked off the Brazilian coast since Sunday. The spill, reported Agence France Presse, threatens an area of the country's coast line that Carlos Minc, Environment Secretary in Rio de Janiero state, called an ecological treasure.
- Caterpillar sees steady growth
December 19 2011 3:28 PM
said its machine sales rose 30 percent in November compared with a year earlier as growth continued at the pace seen in September and October.
- PotashCorp Seeks Israel's OK to Raise Stake in ICL to 25 Percent
December 19 2011 12:37 PM
Canadian fertilizer giant Potash Corp. of Saskatchewan is seeking approval from the Israeli government to increase its stake in rival Israel Chemicals Ltd. to 25 percent, according to media reports.
- Russian Oil Rig Accident Death Toll Could Be As High As 50 People
December 19 2011 10:36 AM
Sailors had roughly 30 minutes before freezing to death in the icy cold waters of the Sea of Okhotsk where the floating platform listed in heavy seas and sank.
- Crunch Time for Firms; Companies May Struggle to Meet Debt Obligations
December 17 2011 5:09 PM
With India's economic growth buckling and the rupee at an all-time low, other companies, too, are expected to struggle to meet debt obligations in the coming months.
- Petroecuador to Spend $70 Million on Amazon Cleanup; Chevron Welcomes Move
December 16 2011 5:09 PM
Chevron Corp. officials Friday lauded the announcement made this week that Ecuadorean state-oil company Petroecuador will clean up tracts of the amazon allegedly polluted by Texaco.
- BP Reaches $250 Million Settlement with Blowout Preventer Maker Cameron International
December 16 2011 10:18 AM
Friday's settlement is the fourth involving companies that in some shape or form worked on the Deepwater Horizon with BP, or supplied it with equipment. Previous settlements involved MOEX and Anadarko, BP's partners in the Macondo well, and Weatherford, the company that made the float collar used at the well.
- Defendants Ask NYC Supreme Court To Dismiss Siberian Oil Field Theft Case
December 15 2011 6:45 PM
Norex Petroleum is suing Russian oligarchs and New York residents Leonard Blavatnik and Victor Vekselberg for orchestrating the theft of its oil field in Siberia.
- EIA: Natural Gas Inventories Fall But Still Above Five-Year Average
December 15 2011 1:48 PM
Although still at levels above the five-year national average, natural gas inventories shrunk in the week ending in Dec. 9 from previous weeks, according to the U.S. Energy Information Administration.
- Chevron Records Twelfth Offshore Natural Gas Find in Australia Since Mid-2009
December 15 2011 12:43 PM
At a depth of 12,461 feet, the company found more than 400 feet of natural gas roughly 180 miles offshore of Exmouth near the Carnarvon Basin in the northwest of Western Australia.
- ExxonMobil Reconsidering Kurdish Exploration Deal, Says Iraq
December 15 2011 11:18 AM
ExxonMobil and the Iraqi central government have been at odds with each other since November, after the U.S. oil company signed contracts for several exploration rights in the semi-autonomous region of the country.
- Colorado Adopts Fracking Disclosure Law
December 14 2011 5:52 PM
Starting April 1, oil and gas companies in Colorado will be required to disclose the chemicals they use when hydraulically fracturing rock formations in the state, joining the ranks of Texas who earlier this year passed a similar disclosure law.