- Exxon Mobil 1Q Earnings Fall As Output Slips
April 26 2012 10:23 AM
Exxon Mobil Corp, the world's largest publicly traded oil company, posted a lower first-quarter profit on Thursday as its oil and natural gas production slumped more than 5 percent, pushing its shares down 1.1 percent premarket.
- Chesapeake Energy To Halt CEO's Well Ownership Plan
April 26 2012 9:08 AM
Natural gas producer Chesapeake Energy Corp said on Thursday it would halt a controversial program that gave company founder and chief executive Aubrey McClendon an ownership stake in its wells.
- Brazilian Oil Major Petrobras Won't Invest More In Argentina As Government Seizes Energy Companies
April 25 2012 6:19 PM
Brazilian oil company Petrobras said Wednesday it will focus on investing in and developing its domestic energy sources rather than immediately invest more in concessions in Argentina.
- Exxon Mobil Raises Dividend 21%, Becomes World's Highest Payer
April 25 2012 6:18 PM
Exxon Mobil Corporation (NYSE: XOM) will increase its quarterly dividend 21 percent to become the largest corporate dividend payer, according to Standard & Poor's on Wednesday.
- Donald Trump Warns Scotland Of 'Tremendous Damage' Of Wind Farms
April 25 2012 3:15 PM
Donald Trump fears that a wind farm off the shores of Scotland would harm the country's tourism industry ... and also his $1.2 billion golf course.
- Eni And Rosneft Join Forces To Search For Oil And Gas In Russian Arctic
April 25 2012 11:19 AM
Italy's Eni and Russia's Rosneft announced on Wednesday a joint venture to search for oil and gas in the Russian Arctic, following a similar pact between ExxonMobil and the state-run oil firm.
- Gulf Shrimp Processors Ask Judge To Delay $7.8 Billion BP Settlement
April 24 2012 5:48 PM
Gulf Coast shrimp processors are asking a federal judge to delay final approval of the $7.8 billion settlement between BP and third-party claimants over the 2010 Gulf oil spill.
- U.S. Charges Ex-BP Engineer With Obstructing Spill Probe
April 24 2012 2:23 PM
A former BP Plc engineer was arrested and charged on Tuesday with trying to destroy evidence related to how much oil was spilling from the company's broken well in the Gulf of Mexico in April of 2010, the U.S. Justice Department said.
- Nigerian Fuel Subsidy Fund 'Defrauded' Of $6 Billion
April 24 2012 2:20 PM
The fuel sector probe -- which will be discussed in a live televised parliamentary session -- uncovered a litany of abuses, including allegations that fifteen oil importers collected more than $300 million without delivering a single drop of oil.
- BP Oil Spill: Former Engineer Kurt Mix First To Be Charged In Deepwater Horizon Disaster
April 24 2012 2:16 PM
A former BP Engineer is the first to be charged in the Deepwater Horizon disaster of 2010. Kurt Mix, of Katy, TX, has been arrested and accused of deleting text messages detailing how much oil was gushing into the Gulf of Mexico.
- Amnesty International Says Royal Dutch Shell Grossly Under-Reported Nigerian Oil Spill
April 24 2012 12:25 PM
In a report, the human rights group said the oil company reported vastly inferior figures to what really happened in a 2008 oil spill in the Nigerian Delta.
- Cove Energy Accepts $1.8B Takeover Offer From Royal Dutch Shell
April 24 2012 12:16 PM
Britain's Cove Energy PLC, which owns part of a massive natural gas field off the coast of Mozambique, said Tuesday it accepted a sweetened takeover offer of £1.12 billion ($1.8 billion) from a unit of Anglo-Dutch energy giant Royal Dutch Shell PLC.
- Egypt-Israel Deal On Natural Gas May Be Scrapped
April 22 2012 9:08 PM
Notice of the termination of a natural-gas purchase agreement between companies in Israel (the buyers) and companies in Egypt (the sellers) was confirmed Sunday by those on both sides of the contentious issue.
- Argentina's YPF Cuts Computer Links With Repsol
April 22 2012 3:13 PM
Argentine oil group YPF has cut computer links with parent Repsol, two sources familiar with the matter said Sunday.
- New EPA Results Confirm Fracking Did Not Contaminate Water In Pennsylvania
April 20 2012 6:01 PM
The EPA's final verdict is that private water sources in the town of Dimock, to the northeast of the state, do not show levels of contaminants that warrant further concern.
- Russian Oil Giant Says Spillage ‘Inherited’ After Govt Announces Lawsuit
April 20 2012 1:57 PM
TNK-BP, Russia's third largest oil producer, replied Friday to the government's announcement it would be sued for oil leaks that have polluted two Siberian river basins, saying most of the damage is a result of inherited environmental problems, accumulated since 1962. TNK-BP pointed to its ongoing $500-million cleanup fund as evidence it is committed to greening up some of Russia's oldest facilities
- GE Earnings Rise, Beating Estimates, As Industrial Business Benefits From New Orders
April 20 2012 11:13 AM
General Electric Co. (NYSE:GE) reported first-quarter net income rose 3 percent as orders for its industrial products surged. Still, overall revenue dipped 8 percent.
- Obama, Defying Reid, To Renominate Republican To Nuclear Panel
April 19 2012 11:42 AM
President Barack Obama will renominate Republican Kristine Svinicki to the Nuclear Regulatory Commission, defying opposition from Senate Majority Leader Harry Reid, a White House official told Reuters on Thursday.
- House Passes Keystone Pipeline For Fifth Time
April 18 2012 6:52 PM
The House, on Wednesday, passed a bill ordering the issuance of a permit for the construction of the Keystone XL Pipleline from Alberta to the Texas Gulf Coast.
- GE Earnings Preview: Slight Drop in Earnings On Low-Margin Goods
April 18 2012 4:43 PM
General Electric Co. is expected to report slightly weaker first-quarter earnings because of a backlog of low-margin thermal and industrial equipment plus slow health care revenue growth.