- Chesapeake Energy To Raise $6.9 Billion Via Asset Sales
September 12 2012 9:18 AM
Chesapeake Energy Corp said it will sell most of its Permian Basin properties to Royal Dutch Shell Plc and Chevron Corp and a majority of its pipeline assets to raise about $6.9 billion in cash.
- Apple Shares Set Record Highs Ahead Of iPhone Intro
September 07 2012 10:47 AM
Shares of Apple (Nasdaq: AAPL), the world's most valuable technology company, set new record highs Friday ahead of next Wednesday’s announcement of a new member of the iPhone family, perhaps the iPhone 5.
- Hurricane Isaac, Venezuelan Oil Refinery Explosion Could Send Oil Prices Up
August 31 2012 11:25 PM
The Hurricane Isaac-related shutdown of at least four U.S. oil refineries and an explosion at a major refinery in Venezuela -- the fourth-largest provider of oil to the U.S. -- could lead to oil prices rising as supply falls.
- Environmentalists Hail Chilean Court's Decision To Halt Power Plant
August 29 2012 11:54 AM
A decision by Chile's top court to temporarily block a massive, coal-fired power generation venture pleased environmentalists but the project's backers, who saw their share price fall, insisted the delay was unnecessary.
- New CAFE Fuel Economy Standards Raise Car Mileage to 55 MPG by 2025
August 28 2012 3:29 PM
The Obama Administration issued new Corporate Average Fuel Economy (CAFE) standards Tuesday, which raise the average mileage of the U.S. fleet to 54.5 mpg by 2025.
- About 24% Of Gulf Of Mexico's Oil Output Cut By Tropical Storm Isaac
August 26 2012 10:26 PM
With the approach of Tropical Storm Isaac in the Gulf of Mexico, about 24.2 percent of the gulf's daily oil production and about 8.2 percent of its daily natural-gas production has been shut-in, according to estimates of the U.S. Interior Department's Bureau of Safety and Environmental Enforcement.
- Death Toll Climbs To 39 In Big Blast At Venezuelan Oil Refinery
August 25 2012 10:11 PM
With casualties of the earthshaking explosion at Venezuela's largest oil refinery rising to 39 dead and more than 80 injured on Saturday, President Hugo Chavez has called for an investigation to determine the cause of the firestorm at the Amuay plant in Falcon state in the northwest of the country.
- Tiffany, Heinz, Pandora, Joy Global, Splunk: Earnings Reports To Watch, Aug 27-31
August 24 2012 4:30 PM
While the second-quarter earnings season is coming to a close, investors will still see a trickle of companies reporting results next week. They include Heinz, Joy Global, Pandora Media, Splunk, and Tiffany.
- Wind Turbine Maker Vestas To Cut 1,400 More Workers
August 22 2012 11:19 AM
Vestas Wind Systems A/S, the western Denmark-based energy company and the world's largest maker of wind turbines, announced Wednesday that it is letting go of 1,400 workers - a 7 percent cut of its entire workforce.
- Saudi Aramco Looks To Red Sea For Offshore Exploration
August 22 2012 8:49 AM
Saudi Arabia will begin deep-water drilling in the Red Sea by the end of the year, says Khalid al Falih, president and CEO of Saudi Aramco, the world's largest oil company.
- Shell Plans At Least $1 Billion Investment In Chinese Shale Gas Per Year
August 21 2012 3:38 PM
Royal Dutch Shell announced plans to spend at least $1 billion a year exploiting China's supply of shale gas, Reuters reported. The news came from the energy firm's head executive in China, Lim Haw Kuang, who responded to Reuters' questions about the alleged $1 billion-a-year plan to invest in the potentially vast natural gas trove.
- Apple, Google Set New Records For Valuation
August 20 2012 2:08 PM
Apple (Nasdaq: AAPL), the world's most valuable technology company, continued its tear as its shares keep setting all-time records in Monday trading. Earlier, its shares hit $664.75, valuing the Cupertino, Calif., company above $621 billion for the first time, more than any other company?s prior value.
- Is The Sun Setting on China's Solar Industry?
August 14 2012 3:30 PM
Some of the China's largest solar manufacturers are facing huge debt liabilities, and one of them, Suntech Power Holdings [STP.N], is potentially on the hook for hundreds of millions of dollars after it disclosed potential fraud by a partner.
- India's ONGC Announces Huge Oil Discovery Off West Coast
August 12 2012 2:40 AM
India's Oil and Natural Gas Corporation (ONGC) on Saturday announced a big oil discovery in the currently producing D1 oilfield off the West Coast that will boost the state-run firm's declining oil production.
- Wanxiang Lifeline For A123 Faces Anti-China Backlash
August 10 2012 11:47 PM
Chinese conglomerate Wanxiang Qianchao Co. (Shanghai: 000559) is offering a $450 million lifeline to struggling battery manufacturer A123 Systems Inc. (Nasdaq: AONE), but the deal is facing right-wing opposition in the U.S.
- Between A Rock And The EPA: A Fight Over Alaskan Minerals Is Making A Big Splash In Washington
August 08 2012 6:35 AM
Local campaigners have compared the potential impact of the mine's effluent to BP's Gulf of Mexico disaster and the Exxon Valdez oil spill, saying the region's fish stocks will become unsellable if the project goes ahead.
- Chicago Bridge & Iron To Acquire The Shaw Group For $3B
July 30 2012 11:26 AM
Energy infrastructure company Chicago Bridge & Iron Company NV (NYSE: CBI) will buy The Shaw Group Inc. (NYSE: SHAW), a Baton Rouge, La.-based engineering and construction firm, for about $3 billion in cash and stock, the companies said Monday.
- ExxonMobil Is Expected To Report Weak Earnings From Lower Gas Prices
July 24 2012 6:08 PM
Based on a median estimate among analysts polled by Thomson Reuters, ExxonMobil will report earnings of $1.96 a share on revenues of about $115.08 billion -- a decline of 8.3 percent from the year before. The company will post its second-quarter earnings on Thursday at 10 a.m. EDT.
- India's Essar Oil Secures Rs 50-Billion Bank Loan To Repay Its Sales Tax Dues
July 23 2012 6:56 AM
Essar Oil Monday said that it had made arrangements for loans of about Rs 50 billion to pay its Rs. 61.69-billion sales tax dues to the government of the western Indian state of Gujarat.
- Patriot Coal Bankruptcy Highlights Disparity In Energy Sector
July 12 2012 6:18 AM
Patriot Coal Corp.'s (NYSE: PCX) bankruptcy filing this week highlighted the diminished demand for coal in the face of cheap natural gas, but experts don't expect the fossil fuel to go away entirely.