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Senate To Vote Monday To Axe Big Oil Tax Incentives

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

Trans-Alaska Pipeline Marine Terminal in Valdez, Alaska

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

Refinery Closures Prompt Congressional Hearing

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

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.

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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.

Gasoline prices are shown at a gas station in Del Mar, California

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

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.

ConocoPhillips Gets Renewal OK for Idled Philadelphia Area Refinery

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

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

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.

ConocoPhillips Wants Arctic-Bound Offshore Rig Designed by 2013

In the next year, ConocoPhillips expects to increase its Arctic footprint thank to a partnership with Singapore's Keppel Offshore and Marine.

Stocks in Focus (AAPL, BA, CA, XRX, ADP, NFLX, GD, SNDK, HES, ABT, COP, MUR)

The companies expected to see active trade Wednesday are: Apple, Boeing, CA, Xerox, Automatic Data Processing, Netflix, General Dynamics, SanDisk Corp, Hess Corp, Abbott Laboratories, Abbott Laboratories, ConocoPhillips and Murphy Oil Corp.

ConocoPhillips Refining Dampens Company's Earnings

ConocoPhillips, the third largest energy company in the U.S., is expected to post higher fourth-quarter earnings as soaring crude oil prices offset big losses anticipated in the company's refining operations.

Republicans Fume as Keystone Oil Pipeline Rejected

The Obama Administration rejected the Keystone oil pipeline on Wednesday, a move that Republicans decried for sacrificing jobs and energy security in order to shore up the president's environmental base before elections.

Oil India in Talks to Buy Stake in U.S. Shale Leases

ConocoPhillips is said to be in talks with the sub-continent oil company, and could sell some of its land leases in South Texas.

Canada pension funds are stronger together, Caisse says

The head of Canada's most storied pension fund wants rivals to be partners as debt-laden governments offload assets, and says a recent bid with two other pension funds for the nation's leading stock market operator is a good start.

Chavez: Venezuela Won't Recognize World Bank Ruling on Exxon Claim

Venezuelan President Hugo Chavez said Sunday that his country would not recognize a ruling by a World Bank tribunal in a multibillion-dollar arbitration case with Exxon Mobil.

Venezuela's President Hugo Chavez (L) and Peru's President Ollanta Humala (2nd L) talk to Venezuela's Oil Minister Rafael Ramirez (R) during a visit to a facility at the oil rich Orinoco's belt near southern Venezuela's city of Pu

Venezuela Doubts World Bank Ruling in Exxon Mobil Case to be Made in 2012

Venezuela's oil minister said on Saturday he does not expect a ruling in World Bank arbitration with the Exxon Mobil Corp. this year, after another tribunal awarded the U.S.-based company $908 million last week.

Chinese Court Accepts $78M Oil Spill-Related Lawsuit against ConocoPhillips

A Chinese court is allowing a $78 million lawsuit brought against ConocoPhillips (NYSE:COP) to move forward, after having dismissed a similar lawsuit in 2011, the state-run Xinhua News Agency reported Friday. The action is being brought by local aquaculture farmers who believe their sea cucumbers were killed by the oil spill.

Exxon wins less than expected from Venezuela dispute

An arbitration panel has awarded U.S. oil giant Exxon Mobil Corp $908 million in compensation for Venezuela's 2007 nationalization of its assets, less than 10 percent of what the company sought in a long legal battle with the OPEC nation.

Exxon Mobil Awarded $908 Million in Venezuela Nationalization Dispute

An international arbitration panel has awarded the U.S. oil giant Exxon Mobil Corp. $908 million in compensation for Venezuela's 2007 nationalization of assets, less than 10 percent of what the company sought in a dispute.

Cracks Start to Show in the Asian Economic Miracle

Chinese Oil Company CNOOC to Launch a Research Fund after Oil Spill

China National Offshore Oil Corp. announced that it intends to set up an environmental protection fund of its own, months after ConocoPhillips said in September it intended to compensate local Chinese communities and pay for environmental damage following a spill at one of the company's offshore rigs in Northern China.

Northeast Petroleum Supplies Set To Drop: EIA Report

Refineries in the Northeast are closing their doors, and as a result, more than half of the area's petroleum refining capacity will be reduced. The reduction is likely to be problematic for ultra-low sulfur diesel, gasoline, heating oil and jet fuel supplies.

Gas Prices - Five ‘Oil Shock’ Stocks

You can rage, rage against gas prices, or you can align your interest with oil producers/refiners by considering shares in an oil play. And here are five.

Could Shell and ConocoPhillips' Artic Foray Revive Alaska's Oil Industry?

Interest in arctic oil has climbed in recent years when industry, government and third party researchers independently made realizations that the amount of recoverable world-class oil deposits was greater than previously thought. That has yet to be properly tested with a drill bit.

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