Peru president accepts resignation of Cabinet Today 12:24 AM EST

President Alan Garcia accepted the resignation of his entire Cabinet on Friday without naming replacements in response to an oil kickbacks scandal. Garcia's government has been rocked by the public airing of audiotaped conversations discussing kickbacks for steering government contracts to Norwegian oil company Discover Petroleum. Discover denies any wrongdoing. Read more

2 StatoilHydro executives resign in Libya case Oct 07, 2008 8:34AM

Executive vice presidents Tore Torvund and Morten Ruud resigned from Norwegian state-controlled oil company StatoilHydro ASA Tuesday as a result of a probe into possible corruption in Libyan oil contracts. Read more

Green oil recycler opens plant in northeast Ohio Oct 07, 2008 8:05AM

A company that uses green technology to recycle oil used by the electric utility industry is opening a plant in northeast Ohio. Hydrodec North America's President John Cowan says the plant opening in Canton on Tuesday has the capacity to recycle 8 million gallons of transformer oil each year. Read more

British leaders in talks after bank shares skid Oct 07, 2008 2:43PM

Prime Minister Gordon Brown summoned the head of Britain's central bank and chief financial regulator for talks Tuesday after banks' share prices plunged amid investors' worries that the government hasn't done enough to strengthen bank balance sheets. Read more

Nigerian conflict a warning for Big Oil in Iraq Oct 07, 2008 6:21AM

Recurrent violence in oil-rich parts of Nigeria may provide a sobering lesson for oil companies hoping to work in Iraq--a place that is much more dangerous despite the fact that attacks are at their lowest level in more than four years. Read more

Oil prices recover slightly after steep drop Oct 07, 2008 5:30PM

Oil prices swung higher Tuesday, snapping a four-day plunge as investors temporarily halted their frantic selling to see whether the government's sweeping economic bailout can stem a widening global downturn. Read more

Nigerian conflict a warning for Big Oil in Iraq Oct 07, 2008 12:01AM

Recurrent violence in oil-rich parts of Nigeria may provide a sobering lesson for oil companies hoping to work in Iraq--a place that is much more dangerous despite the fact that attacks are at their lowest level in more than four years. Read more

Nigerian conflict a warning for Big Oil in Iraq Oct 07, 2008 12:50PM

Recurrent violence in oil-rich parts of Nigeria may provide a sobering lesson for oil companies hoping to work in Iraq--a place that is much more dangerous despite the fact that attacks are at their lowest level in more than four years. Read more

Peru energy minister quits in oil contract scandal Oct 06, 2008 9:12PM

Peru's energy minister and a top state oil company official resigned amid a scandal over alleged kickbacks, while President Alan Garcia on Monday suspended four contracts with the Norwegian oil company involved. Read more

Final Glance: Oil companies Oct 06, 2008 6:35PM

Shares of some top oil companies were down at the close of trading: Chevron fell $2.54 or 3.2 percent, to $76.84. Read more
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