Norway Avoids Oil Strike, Shutdown At 11th Hour
July 10 2012 9:26 AM
The strike over pension reforms raised eyebrows after it emerged earlier this year that Norway's oil workers -- paid double the average sector salary of around $175,000 -- might just be the world's richest strikers.
Are These The Richest Strikers On The Planet? Norway Oil Shutdown Looms Amid Worker Dispute
July 09 2012 1:02 PM
With the government failing to step in to resolve the dispute -- as it has done three times since 2007 -- Statoil, BP and Eni are preparing to instigate a full closure of output at midnight on Monday, cutting off more than 2 million barrels of oil, natural gas liquids and condensate per day.
New Great Game Being Played In Afghanistan, Without The US
July 07 2012 12:59 PM
China and India are set to sink billions of dollars into Afghanistan, perhaps the world's last great untapped center for natural resources. Where is the U.S.?
IPOs? Did Facebook?s Disaster Poison The Pipeline?
July 06 2012 6:38 AM
Since its May 17 pricing at $38 a share, the stunning collapse in the value of Facebook (Nasdaq: FB) the No. 1 social networking site has made history ? for its sheer size and magnitude.The IPO market remains weak.
Foreign Troubles Dim US Earnings Forecasts
July 05 2012 5:11 PM
The European summit may have increased investor confidence, but weak consumer spending across Europe, along with the rise of the dollar against the euro, is slowing down the global economy, pushing many companies to trim their earnings forecasts.
¡Super Derecho! 1.4 Million In Eastern US Still Without Power
July 03 2012 10:34 AM
Many residents will likely spend the Fourth of July barbequing without electricity and biting their tongues over how long it is taking to restore power.
Abound Bankrupt; Third Government-Backed Solar Firm Goes Bust Within A Year
June 28 2012 6:41 PM
Abound Solar of Loveland, Colo., has become the third federally sponsored solar panel company to collapse in the past year, another blow to Obama's green energy and jobs efforts.
Malaysia's Petronas Buys Progress Energy Resources For $5.35B
June 28 2012 12:46 PM
Malaysian natural oil and gas company Petroliam Nasional Bhd. (Petronas) paying $5.35 billion in cash for Canadian natural gas counterpart Progress Energy Resources Corp. (TSE:PRQ), the companies said Thursday.
- The 10 Best Promos Out Of 2012's Cannes Lions
June 25 2012 2:37 PM
The 59th International Festival of Creativity, known as the Cannes Lions, wrapped up this past weekend. This year, top winners included a blank annual report and an invisible hydrogen powered Mercedes Benz.
Almost 23% Of Gulf Of Mexico's Oil-And-Gas Output Cut By Storm
June 24 2012 7:02 PM
Because of Tropical Storm Debby in the Gulf of Mexico, about 22.7 percent of the gulf's current daily oil production and about 22.9 percent of its current daily natural-gas production has been shut-in, according to the U.S. Interior Department's Bureau of Safety and Environmental Enforcement.
Tropical Storm Debby Cuts Oil-And-Gas Output In Gulf Of Mexico
June 23 2012 11:26 PM
With Tropical Storm Debby more or less dead in the water of the central Gulf of Mexico, the U.S. Bureau of Safety and Environmental Enforcement estimates about 7.8 percent of the gulf's current daily oil production and about 8.16 percent of its current daily natural-gas production are now shut-in.
Exxon Mobil Shelves Shale-Gas Exploration Plans In Poland: Report
June 17 2012 4:33 PM
The Exxon Mobil Corp. will abandon its shale gas exploration projects in Poland because the company's test wells did not produce commercial quantities of gas, the daily newspaper Gazeta Wyborcza reported, according to Bloomberg News.
Blame Coal's Hardship On Economic Factors, Not Federal Regulations, Says EPA Administrator
June 11 2012 7:43 PM
U.S. Environmental Protection Agency Administrator Lisa Jackson said her administration's environmental policies have had no influence on the coal industry's current hardships, despite enforcing tougher emission standards the industry says increases their costs and dampens demand for coal.
Two Chesapeake Directors Offer To Resign Following Shareholders Meeting
June 08 2012 6:47 PM
Two Chesapeake Energy Corp. (NYSE: CHK) directors -- members of the audit committee now dealing with the personal finances of the company's CEO -- offered their resignations Friday after they attracted little support at the annual shareholders meeting.
Chesapeake Energy Selling Pipelines For $4B
June 08 2012 10:54 AM
Chesapeake Energy Corporation (NYSE: CHK), the nation's second largest natural gas producer, is seeking to patch its $22 billion shortfall brought on by dropping natural gas prices by selling its midstream pipeline assets to Global Infrastructure Partners for $4 billion, the company announced Friday.
Why Has US Manufacturing Productivity Surged This Year: It?s The Software, Stupid!
June 07 2012 4:25 PM
U.S. manufacturing productivity surged 5.4 percent in the first quarter, the most since last year?s third quarter, even as overall productivity eased about 1 percent, the U.S. Department of Labor said.
Norway Will Help Britain Keep The Lights On And The Factories Humming
June 07 2012 10:36 AM
A new partnership agreement between the United Kingdom and Norway will strengthen the energy connection between the two countries, said UK Prime Minster David Cameron on Wednesday
Oil And Gas Industry Group Says EPA Is Wrong On Methane Emissions
June 04 2012 6:27 PM
The American Petroleum Institute and America's Natural Gas Alliance are criticizing the U.S. Environmental Protection Agency's most recent natural gas emission estimates and suggest actual industry emissions are half what federal regulators say.
- Chesapeake Energy Replacing Four Directors
June 04 2012 9:02 AM
Shares of Cheasapeake Energy Corp. (NYSE: CHK) rose Monday in premarket trading after the nation's No. 2 natural gas producers said it was replacing four of its independent directors after consultations with the company's two largest shareholders, Southeastern Asset Management and Carl C. Icahn.
North Carolina Considers Fracking Bill
June 01 2012 5:55 PM
The North Carolina Senate could begin debating that state's first piece of legislation to allow hydraulic fracturing in oil-and-gas drilling next week.