Concho To Pay $1B For Oil And Gas Assets In Permian Basin
May 13 2012 11:57 PM
Concho Resources Inc. (NYSE: CXO) has agreed to acquire all the crude-oil and natural-gas assets of the Three Rivers Operating Co. and certain affiliated entities for $1 billion in cash, Concho announced Sunday.
Qatar Sovereign Fund On Buying Spree: Royal Dutch Shell, Xstrata, Eni, Total
May 11 2012 9:54 AM
The Qatar Investment Authority (QIA) is on an investment spree, bulking up its holdings in several major companies including Royal Dutch Shell Plc (NYSE: RDS.A), Eni SpA (NYSE: E), and Xstrata PLC (London: XTA), and the sovereign fund has already taken a holding Total SA (NYSE: TOT) and is pursuing avenues to invest in Glencore International Plc (London: GLEN), sources reported Friday.
Putin Aide Leaving Cabinet To Join Board Of State Oil And Gas Company
May 10 2012 6:48 PM
Russian President Vladimir Putin has recommended Deputy Prime Minister Igor Sechin for a seat on the board of the state oil and gas holding company while announcing that Sechin will leave the Cabinet Sunday.
Respite From Euro Jitters, US Jobs Bolster Stocks: Daily Markets Wrap
May 10 2012 4:14 PM
New Labor Department data suggests a strong start to jobs growth in January may not get wiped out by negative growth heading into the third quarter.
Euro Zone Uncertainties Sink In: Daily Markets Wrap
May 08 2012 4:05 PM
Post-election uncertainty in Greece pushed investors away from stocks and commodities, lowering German and U.S. bond yields and eroding the euro's value as investors sought the dollar. France's benchmark CAC 40 Index erased its Monday gains, which had confounded investors. The reality sank in a day late as euro zone uncertainties that popped up over the weekend took root. Greek stocks have lost 10 percent of their value so far this week.
After McClendon's Trades, Chesapeake Board Gave Its Blessing: Reuters Exclusive
May 08 2012 9:18 AM
In its latest employment contract with CEO Aubrey McClendon, Chesapeake Energy Corp gave him permission to trade commodities for himself after he already had begun doing so.
Singapore's Temasek Investing $468M in US LNG Venture
May 07 2012 1:01 PM
Temasek Holdings Pte. Ltd., the Singaporean sovereign-investment vehicle and RRJ Capital, a private equity fund run by former Temasek executive Richard Ong, will jointly invest about $468 million in Houston's Cheniere Energy Incorporated (Nyseamex: LNG), as Singapore pursues its goal of becoming an Asian hub for liquid natural gas (LNG).
BP Wins Deepwater Horizon Oil Spill Settlement Approval
May 03 2012 12:13 PM
BP Plc. (NYSE: BP) won preliminary approval of its proposed $7.8 billion settlement of claims relating to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico.
Spain Demands Fair Price After Bolivia Seizes Electric Utility
May 02 2012 11:44 AM
Spain?s chief economist said Wednesday Bolivia will ?compensate Red Eléctrica Española the costs invested in the country?s electricity network? after the South American country announced it would expropriate the local unit of the Spanish utility, Transportadora de Electricidad S.A.
Inside Chesapeake, CEO McClendon Ran $200M Hedge Fund: Reuters Investigation
May 02 2012 11:24 AM
Shares of Chesapeake Energy Corp., the No. 2 natural gas producer in the U.S., plunged Wednesday after a report that the CEO and co-founder secretly ran a hedge fund that traded in the same commodities that the Oklahoma City company produces.
ConocoPhillips Fined $257M For Chinese Oil Spill
May 01 2012 4:56 PM
Houston-based oil ang gas giant ConocoPhillips (NYSE: COP) has been fined $257 million to settle charges brought by the Chinese government following a massive oil spill. The company's Chinese venture partner, CNOOC Ltd., was also fined, to the tune of $76 million.
Global Chip Sales Rose To $23.3B In March: SIA
May 01 2012 4:54 PM
Global chip sales rose about 1.3 percent to $23.3 billion, a slight increase from February but down nearly 8 percent from last year, the Semiconductor Industry Association reported.
Chesapeake To Replace McClendon As Chairman
May 01 2012 12:12 PM
Chesapeake Energy Corp will find an independent, non-executive chairman to replace Aubrey McClendon, who will retain his position as chief executive officer, the natural gas producer said on Tuesday.
Mitsui, Mitsubishi Buy Stake in Woodside's Browse LNG Project
May 01 2012 10:36 AM
Woodside Petroleum Limited (AX: WPL) sold a 14.7 percent stake in its Browse liquid natural gas (LNG) development project for $2 billion to a Japanese joint venture operated by Mitsui & Company Limited and Mitsubishi Corporation, the Australian company announced Tuesday.
- BP Earnings Fall As Gulf Spill Costs Continue To Weigh
May 01 2012 9:41 AM
BP Plc (BP.L) reported a bigger-than-expected profit drop on the back of a fall in production prompted by the need to sell oil fields to pay for the Gulf of Mexico disaster, raising concerns about the oil group's turnaround plan.
Exxon Mobil Shuts Louisiana Oil Pipeline After Leak
April 30 2012 5:59 PM
Exxon Mobil Corp has shut the 160,000 barrel-per-day (bpd) North Line crude oil pipeline in Louisiana after a leak spilled 1,900 barrels of crude oil in a rural area over the weekend, affecting a conduit that supplies the nation's third-largest refinery.
Mergers, Acquisitions Increase: Sunoco, Delta, Payless Shoe
April 30 2012 2:32 PM
Mergers and acquisitions are on the upstream as low interest rates, rising business and consumer confidence plus depressed prices for some assets have companies seeking buys that will allow them to expand or cut costs through synergy.
Energy Transfer Partners Paying $5.3B For Sunoco, Which Soars 20%
April 30 2012 9:55 AM
Energy Transfer Partners LP (NYSE: ETP) is buying Sunoco Inc. (NYSE: SUN) in a $5.3 billion cash and stock deal that will allow the Dallas-based natural gas company to expand into heavier hydrocarbons and acquire Sunoco's approximately 4,900 gas stations.
Industry Group Releases Suggestions For Natural Gas Development In Marcellus Shale
April 26 2012 5:10 PM
The Marcellus Shale Coalition Thursday released suggestions it hopes will standardize how the oil and natural gas industry approaches future drilling operations, including the use of the controversial practice of fracking.
BP's $7.8 Billion Settlement Days Away From Preliminary Approval, U.S. Judge Says
April 26 2012 2:29 PM
The first part in a saga of litigation and claims for damages following the BP 2010 Gulf oil spill is just days away from being finished.