Brazil judge blocks Chevron, Transocean injunction

A federal judge in Brazil declined to grant an injunction suspending the Brazilian operations of oil major Chevron and offshore oil-rig contractor Transocean over a November oil spill northeast of Rio de Janeiro, providing temporary relief to the two companies.

S&P 500 Rises to Highest Level Since 2008

The Standard & Poor's 500-stock index closed Friday at its highest level since June 2008 as a result of the rise of the U.S. stocks subsequent to increasing confidence on revival of economic situation with the approval of the Greece bailout package.

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

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.

Ecuador court rejects Chevron arbitration ruling

A court in Ecuador has rejected an order by arbitrators that an $18 billion pollution ruling against Chevron should be frozen, but the judges referred an appeal by the U.S. oil company to the country's Supreme Court.

Transocean Drills Relief Well in Nigeria

Transocean crews over the weekend began drilling a relief well off the coast of Nigeria to allow for the proper abandonment of a Chevron Corp. natural gas well that exploded, killed two contractors, sank, and has remained on fire for more than one month.

Double Victory For Chevron in Ecuador Pollution Case

Chevron, the No. 2 U.S. energy company, won two small legal victories this week that could lessen potential liabilities over alleged pollution in South America. A court in Ecuador had previously levied an $18 billion fine.


IBTimes Logo

Nine companies sued over exclusive forum bylaws

Chevron Corp and eight other corporations were sued by shareholders on Tuesday for adopting a bylaw that requires common types of shareholder lawsuits be brought exclusively in Delaware's Chancery Court.
Flames from Chevron Nigeria's natural gas well

Chevron Burning Rig Causing Health Problems

Nigerian officials in the country's Delta say pollution caused by the two-week fire at a Chevron natural gas rig is making local people sick, as scores of dead fish wash up on shore, and a local health facility is overrun by those seeking medical treatment.
A Petrobras Oil platform is seen at Guabanara bay in Rio de Janeiro

Petrobras Oil Spill Extends 43 Square Miles

Officials with Brazilian oil giant Petrobras, and Brazil's environmental protection agency (IBAMA), announced Wednesday that 26 cubic meters of oily water was collected from an offshore oil production column that ruptured the day before.

ExxonMobil's 4Q up but Misses Street View, Shares Down

ExxonMobil Corp., the world's largest integrated oil and natural gas company, Tuesday reported fourth-quarter earnings up six percent, less than analysts expected, as higher crude oil profits offset weaker refining margins.
IBTimes Logo

Chevron profit falls as refineries, output suffer

Chevron Corp reported lower quarterly earnings on Friday, missing Wall Street forecasts, as rising spending on oil and gas projects and losses at its U.S. refinery business offset gains from higher crude oil prices.
NASDAQ Market Site in New York's Times Square

U.S. Stocks Fall after GDP Data Hints are Weak Q1

U.S. stocks fell on Friday after data showed the U.S. economy grew less than expected in the fourth quarter, while weak earnings from Ford and continued caution over Europe's debt crisis also weighed on the market.