IBTimes.com : ConocoPhillips Topic

$8.5B Budget Approved For Origin and Conoco Australia's LNG Project

Thu, 24 May 2012 23:51:44 EDT

A group of domestic and international banks has granted in principle the $8.5 billion in project financing needed to finally drumroll the $20 billion Australia Pacific liquefied natural gas (LNG) project of Origin Energy Ltd. and ConocoPhillips.

Australia’s Gas Reserves Could Last 2 Centuries

Sun, 13 May 2012 22:32:17 EDT

Australia's identified gas reserves is enough to power the country's needs for almost two centuries, Resources Minister Martin Ferguson said on Sunday.

Weekly Funadamentals - Commodities Slumped on Weak Sentiment

Sun, 13 May 2012 15:45:56 EDT

Financial markets were gloomy last week. Driven by the highly political uncertain situation in Greece, disappointing economic data in China and reports of JP Morgan's $2B trading loss linked to synthetic credit securities, market sentiment was dampened and investors rushed to dump their risky assets and sought shelter in safe haven, the US dollar.

Casey Research Summit Special Report Part II: Drilling Down into Oil & Gas Prices

Thu, 10 May 2012 18:35:04 EDT

The private panel that began with three key speakers at the April 27-29 Casey Research Recovery Reality Check Summit continues with a second installment in today's Energy Report. This exclusive features Casey Energy Opportunities Senior Editor Marin Katusa, Global Resource Investments Founder a...

Centrica to Boost Upstream UK Oil and Gas Production by 25 Percent

Thu, 10 May 2012 07:03:15 EDT

Centrica holds a position of the third biggest producer of gas in the Britain continental shelf and plans to increase upstream UK gas and oil production by over 25 percent during the current year.

ConocoPhillips To Sell All Of Its Nigerian Assets

Tue, 08 May 2012 16:29:14 EDT

The U.S. oil major is preparing to sell all of its assets in one of Africa's leading producers of crude oil -- Nigeria.

China Begins Deepwater Drilling In South China Sea

Mon, 07 May 2012 16:54:25 EDT

China is set to move ahead with deepwater drilling in the South China Sea -- a controversial method of resource extraction in a controversial area of the world.

ConocoPhillips Fined $257M For Chinese Oil Spill

Tue, 01 May 2012 16:56:34 EDT

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.

The Energy Report - Run Refinery Run

Tue, 01 May 2012 09:50:39 EDT

Instead of talking about refinery runs it looks like all of a sudden there has been a run on refineries. In an historic move Delta Airlines is now in the refinery business. Bloomberg News reported that Delta Air Lines Inc. agreed to buy a refinery from ConocoPhillips, breaking with U.S. carriers' tradition of not owning their own fuel assets.

BP Earnings Fall As Gulf Spill Costs Continue To Weigh

Tue, 01 May 2012 09:41:11 EDT

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.

Morning Gasoline Market Report

Tue, 01 May 2012 09:37:35 EDT

June RBOB prices were under pressure throughout the overnight and early morning hours, perhaps in the wake of news that Delta Airlines agreed to buy a Pennsylvania oil refinery from ConocoPhillips.

Delta buys refinery, becoming first airline to make own fuel

Mon, 30 Apr 2012 21:42:03 EDT

Delta Air Lines Inc will buy a Pennsylvania oil refinery from ConocoPhillips for $150 million (92 million pounds), an audacious bid to save money on fuel costs by investing in a sector shunned by many of the biggest oil firms.

Mergers, Acquisitions Increase: Sunoco, Delta, Payless Shoe

Mon, 30 Apr 2012 14:32:31 EDT

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.

Delta To Bid On ConocoPhillips' Oil Refinery For $150 Million: Reuters

Mon, 30 Apr 2012 11:33:33 EDT

Delta Air Lines Inc. (NYSE: DAL), the second-largest U.S. commercial airline, is reportedly close to a bid for a Pennsylvania oil refinery that could mitigate high fuel costs by cutting out the middleman.

Down-Under Energy Opportunities: Ivor Ries

Thu, 26 Apr 2012 18:49:02 EDT

Most investors may not have Australian resource companies on their radar screens, but that doesn't mean that there aren't some great opportunities worth pursuing Down Under. In this exclusive interview with The Energy Report, Ivor Ries, utilities and energy analyst at E.L. & C. Baillieu Stockbroking Ltd.

Natural Gas Prices Unsustainable For Future Growth, Says Poll

Wed, 25 Apr 2012 13:54:14 EDT

According to a survey released this week, oil and natural gas executives and investors think the price of natural gas will remain below $2.50 per 1,000 cubic feet for the rest of the year -- a level that is too low for the industry's growth.

Get Natural Gas 'for Free' After Massive Selloffs: Porter Stansberry

Tue, 24 Apr 2012 19:35:02 EDT

Stansberry & Associates Investment Research Founder Porter Stansberry envisions a future that is anything but rosy, but savvy investors may find solace and security against the crippling inflation he expects.

Repsol Threatens Investors In Argentina With Legal Action

Mon, 23 Apr 2012 12:55:52 EDT

Spanish oil company Repsol threatened on Monday legal action against any investors helping newly nationalized Argentine oil company YPF develop oil resources previously discovered by the Spanish firm.

Wall St Premarket, FX, Gold, Oil, Futures

Mon, 23 Apr 2012 11:46:17 EDT

The S&P 500 has lost 2.1 percent in April after the biggest first-quarter rally since 1998. The gauge rose 0.6 percent last week after corporate profits beat estimates and a report showed German business confidence unexpectedly increased for a sixth month in April, adding to evidence that Europe's largest economy can weather the sovereign-debt crisis.

US Stock Futures Point To Sharply Lower Open On Europe Woes

Mon, 23 Apr 2012 09:28:02 EDT

Stock index futures pointed to a sharply lower open on Monday on weak European data and renewed anxiety over how the region would tackle its debt crisis, while Wal-Mart slumped after a report it stymied a probe into bribery allegations.

ConocoPhillips profit lags Wall Street view

Mon, 23 Apr 2012 08:42:02 EDT

ConocoPhillips , which is splitting into two stand-alone companies at the end of the month, reported lower-than-expected quarterly profit, hurt by weak refining margins, and its shares slipped in premarket trading.

Europe Anxiety Drives Down Futures, Wal-Mart Slides

Mon, 23 Apr 2012 08:35:02 EDT

Stock index futures slid on Monday on renewed anxiety over how Europe would tackle its sovereign debt crisis while Wal-Mart shares fell after a report about a stymied probe into bribery allegations.

US Stock Futures Down On Europe Concerns, Wal-Mart Drops

Mon, 23 Apr 2012 08:00:05 EDT

Stock index futures were sharply lower on Monday as political uncertainty in Europe raised new questions about how effectively the region would tackle its sovereign debt crisis.

Australian Stock Market Report – Afternoon 4/23/2012

Mon, 23 Apr 2012 05:00:42 EDT

The Australian sharemarket ended in negative territory for the first time in four sessions today. The All Ordinaries Index (XAO) fell 0.3 pct or 14.1 pts to 4430.3. Today was also one of the quietest starts to a new trading week this year. Local shares attempted a comeback at lunch, following a report in China showing a slight improvement in China's manufacturing sector.

Domestic Oil Production Is Bullish for Americans: Evan Calio

Fri, 20 Apr 2012 14:49:02 EDT

For Morgan Stanley Analyst Evan Calio, a challenge is really an opportunity, at least when it comes to finding discounted equities in the oil and gas space. In this exclusive interview with The Energy Report, he explains why the distribution bottleneck that is causing a historically wide price differential between WTI and Brent is actually an opportunity for refiners and Americans everywhere.

50 Key Earnings Reports To Watch, April 23-27

Fri, 20 Apr 2012 14:42:15 EDT

Earnings season is in full swing, and about 80 percent of the companies that have already reported topped estimates. We ran a screen and produced a list of 50 key companies set to report their earnings between April 23 and 27.

Hydraulic Fracturing Knocking On Illinois' Doorstep

Tue, 17 Apr 2012 15:54:07 EDT

Hydraulic fracturing and natural gas development could spread soon to Illinois as companies rush to lease land in the southern part of the state.

Sweet Spots in a Patchy Oil Price Landscape: Frank Saldana

Thu, 12 Apr 2012 17:56:02 EDT

A variety of geopolitical, economic, technical, regulatory and transportation factors are having some confusing effects on U.S. prices for oil, natural gas and gas by-products. In this exclusive interview with The Energy Report, Frank Saldana, senior E&P energy analyst at C. K.

Chesapeake Energy Raises $2.6 Billion In Asset Sale To Fight Low Natural Gas Prices

Tue, 10 Apr 2012 15:39:09 EDT

With the price of natural gas at its lowest point in two years, natural gas-producing companies are trying to raise enough capital to keep afloat, and the second-largest among them is no exception.

Alaska, Oil Giants Reach Deal On $40 Billion Pipeline Project

Sat, 31 Mar 2012 14:36:37 EDT

BP, ExxonMobil and ConocoPhillips ended litigation with Alaska over a field of natural gas in the state's North Slope that has remained undeveloped for 30 years.

Fuel Price Threat From Refining Reduction May Ease As Bids Grow For ConocoPhillips' Idled Trainer Facility

Thu, 29 Mar 2012 18:25:19 EDT

The death of a ConocoPhillips (NYSE: COP) refinery in Pennsylvania may be avoided as bidders line up to buy the idled plant.

BP Enters Utica Shale, Leases Large Swath of Ohio

Wed, 28 Mar 2012 11:22:44 EDT

British oil giant BP is expanding gas drilling in Ohio despite the continuing decline in gas prices.

US Senate Votes To Start Debate On Ending Subsidies For Big Oil

Mon, 26 Mar 2012 18:48:32 EDT

Despite Monday's 92-4 vote, Republicans are likely to kill the bill later this week if, as expected, they're not allowed by the Senate's Democratic leadership to propose amendments.

Senate Big Oil Tax Vote 'A Trojan Horse' For Industry and U.S. Economy, Oil Group Says

Mon, 26 Mar 2012 11:14:01 EDT

The American Petroleum Institute, the country's largest oil industry backed trade group, slammed the U.S. Senate as it readies to vote to eliminate tax breaks for oil companies.

Senate To Vote Monday To Axe Big Oil Tax Incentives

Fri, 23 Mar 2012 15:39:43 EDT

The U.S. Senate is scheduled to vote Monday on whether or not to do away with tax breaks for the largest oil and natural gas companies.

Oil Majors In Talks On $40B Alaska Gas Pipeline

Wed, 21 Mar 2012 16:56:23 EDT

Alaska could soon have a pipeline linking the state's liquefied natural gas to Asian markets, according to a published report.

The Bullish Case for Large-Cap Oil Stocks: Fadel Gheit

Wed, 21 Mar 2012 10:14:03 EDT

With oil prices near record highs, who are the big winners in this energy bull market? Fadel Gheit, managing director and senior analyst of Oppenheimer & Co. has large-cap explorers and producers on his radar. In this exclusive interview with The Energy Report, Wall Street veteran Gheit shares his top picks for diversification, income and even growth.

Refinery Closures Prompt Congressional Hearing

Mon, 19 Mar 2012 14:42:12 EDT

Sen. Bob Casey (D-Pa.) will chair a Congressional hearing next month to examine the effect closing of several refineries serving the East Coast has on gas prices.

DOI Calls On Public Input For Oil Exploration In Gulf Of Mexico

Mon, 19 Mar 2012 11:54:30 EDT

The U.S. Bureau of Ocean Energy Management Monday called for public comment on plans to extend oil and natural gas exploration in the Gulf of Mexico.

Venezuela To End All Ventures With Exxon Mobil

Fri, 16 Mar 2012 12:57:24 EDT

Venezuela's state-run oil company will terminate all ventures with Exxon Mobil (NYSE: XOM), the biggest U.S. oil company, when arbitration proceedings conclude, Oil Minister Rafael Ramirez said.

Soaring Gas Prices: Why Does a Tiny Oklahoma City Exert So Much Control?

Wed, 29 Feb 2012 14:08:34 EST

Gasoline prices across the nation jumped 16 cents since last week and could go higher. Part of the high cost is a tiny city in Oklahoma.

Rising Gas Prices: Five Reasons to Bet on Five Dollars-a-Gallon

Wed, 29 Feb 2012 13:34:12 EST

Gas prices in the U.S. are increasing. Is it possible we’ll see a $5 gallon anytime soon? Signs point to yes.

A Brief History of the U.S. Strategic Petroleum Reserve [OIL LOANS, OIL SALES]

Sun, 26 Feb 2012 08:21:03 EST

With gasoline prices already approaching a distinctly unseasonal $4 a gallon in a presidential-election year, the United States is considering tapping its Strategic Petroleum Reserve as one way to control the prices of crude oil and its derivatives. Herewith is a look at past SPR loans and sales.

Rise and Rise of U.S. Gasoline Prices: Wall Street and Big Oil to Blame?

Fri, 24 Feb 2012 07:24:41 EST

Everyone agrees the days of cheap gasoline are over. The pain at the pump is forcing people to cut down gasoline usage, and there has been a big drop in gasoline demand in the country. At the same time, domestic production is booming, with the number of rigs just in U.S. oil fields more than quadrupling in the past three years.

Pain at the Pump: Are U.S. Gas Prices Headed for $5 a Gallon by June?

Tue, 21 Feb 2012 13:31:05 EST

The good news for U.S. drivers is that unless a "world-wide catastrophic event," like war breaking out between Iran and Israel, takes place soon, the $5 figure will not be hit in the near future, according to AAA.

AMEC still hunting for deals after buyback

Tue, 21 Feb 2012 07:21:03 EST

British engineer AMEC is still looking for a big acquisition, even after announcing a 400 million pound share buyback programme and hiking its 2011 dividend by 15 percent, it said on Tuesday.

ConocoPhillips Gets Renewal OK for Idled Philadelphia Area Refinery

Thu, 16 Feb 2012 11:38:56 EST

The Pennsylvania Department of Environmental Protection Thursday issued a renewed pollution discharge permit for ConocoPhillip's idled refinery in Delaware County.

High Oil Prices Nudging Gasoline Prices Upward

Wed, 15 Feb 2012 17:40:23 EST

Gas prices on average have gained 12 cents a gallon in just the last month, the AAA reports. At an average $3.51 a gallon, that's 38 cents above 2011. What's happening?

Third Company Scales Back U.S. Shale Operations

Thu, 09 Feb 2012 18:08:24 EST

With the price of natural gas so low, BG Group has become the latest company to scale back their shale natural gas production in the United States, in what could be the start of a temporary retreat from the gas industry in the country.

The Energy Report - Refineries Were Born To Run

Thu, 09 Feb 2012 09:21:49 EST

Every day we sweat the gas price out on the streets of a runaway American dream, at night we ride through at the mercy and glory of these refining machines. Prices are rising out on highway 9, chrome wheeled, fuel injected, and prices continue to climb. Oh, baby this gas rips the bones from your back. It's a death trap, it's a suicide rap. We gotta get out while we're young.