Oil and Gas


  • Petro-Canada Joins Oil Companies Abandoning Venezuela Wednesday, 27 Jun 2007 | 8:12 PM ET
    Petro Canada

    Petro-Canada has decided to pull out of Venezuela and has reached an agreement with the state oil company on compensation for its oil investments, the Venezuelan government said.

  • Crude oil and gasoline prices settled higher on Wednesday after a government inventory report stoked concerns about the nation's gasoline supplies during the summer driving season.

  • CNBC's Domm: Today's Agenda in the Markets Wednesday, 27 Jun 2007 | 9:10 AM ET

    Stock futures point lower this morning after a weak showing in equities markets worldwide. European stocks are trading lower, and Asian markets were mostly down overnight. Volatility will no doubt be the tone of the day, as the Fed starts its two-day meeting. Durable goods fell 2.8%, below expectations. The dollar slid after the report and Treasurys rallied.

  • Rosneft Counts on Asset Sales, Profits to Cut Debt Wednesday, 27 Jun 2007 | 5:11 AM ET

    Russian oil firm Rosneft hopes to pay down its huge debt by milking and honing its increasingly profitable business rather than selling more shares, the firm's vice president for finance said.

  • Stocks finished lower in a choppy session that was overshadowed by concerns about the housing slowdown and a meltdown in the subprime mortgage industry. "The financials tend to lead the market down and that's what they were doing today," said Robert Albertson, chief strategist at Sandler O'Neill.  "I think it goes well beyond subprime. "

  • U.S. Energy Chief Concerned About Venezuela Imports Tuesday, 26 Jun 2007 | 3:06 PM ET

    U.S. oil giants Exxon Mobil and ConocoPhillips both left huge crude projects in Venezuela's Orinoco Belt after President Hugo Chavez nationalized them as part of his socialist revolution. Venezuela is the fourth biggest supplier of oil to the United States.

  • CNBC's Domm: Today's Agenda in the Markets Tuesday, 26 Jun 2007 | 9:17 AM ET

    Stock futures are perking up this morning after three sessions of selling. Housing starts for May are reported today and there are a few earnings reports to make headlines.

  • Rosneft to Buy Yukos Stations Tuesday, 26 Jun 2007 | 6:37 AM ET

    State-controlled Rosneft strengthened its position as the nation's top oil company on Tuesday, announcing that it would buy nearly 600 filling stations and other facilities that once belonged to the bankrupt Yukos oil company.

  • Iberdrola to Buy Energy East for $4.5 Billion Tuesday, 26 Jun 2007 | 2:51 AM ET

    Spanish power company Iberdrola plans to buy regional utility owner Energy East for $4.5 billion (3.34 billion euros) in cash, giving it a foothold in the United States, the companies announced Monday.

  • Stocks ended lower as investors were rattled by concerns regarded leveraged mortgage securities held by two Bear Stearns hedge funds. "We will see a splash near term as some of these funds need to unwind positions in paper that really isn't traded too much," said Jack Ablin of Harris Private Bank.

  • Energy Maven Says Oil, Gasoline Will Keep Rising Monday, 25 Jun 2007 | 5:41 PM ET

    John Kilduff, senior vice president and energy analyst at Man Financial, appeared on CNBC's special "Power Lunch at the Four Seasons" to give his outlook for oil and gasoline -- and to explain why easing tensions in Nigeria haven't made him bearish on either.

  • In a special edition of "Power Lunch at the Four Seasons," Abby Joseph Cohen, the chief U.S. portfolio strategist at Goldman Sachs, offered her perspective on the markets, the S&P 500 and the global economy to CNBC's Bill Griffeth.

  • Game Plan for the Week of June 25 Monday, 25 Jun 2007 | 9:32 AM ET

    Did the Bear Stearns hedge-fund blowup scare you out of the market? Here are some picks to get you back in.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.

  • Italian energy company Eni and Russia's state-controlled Gazprom on Saturday said they signed a memorandum of understanding on the possibility of supplying Russian gas to European Union countries through a pipeline under the Black Sea.

  • Sinopec Stock Plunges 7% on Chairman's Resignation Monday, 25 Jun 2007 | 3:25 AM ET

    China's top oil producer Sinopec's stock plunged as much as 7% in China after the company's Chairman Chen Tonghai abruptly resigned for personal reasons on Friday.

  • U.S. Gasoline Prices Fall to Just Under $3 a Gallon Sunday, 24 Jun 2007 | 4:08 PM ET

    The average price of a gallon of gasoline in the United States fell a little more than 11 cents over the past two weeks, as seasonally high demand slowed the price decline at the pump, an industry analyst said Sunday.

  • Stocks ended broadly lower as Wall Street pondered the fate of two Bear Stearns mortgage debt funds. Losses were compounded by adjustments in several key indexes.

  • Oil prices edged higher Friday as markets monitored talks between the Nigerian government and labor union officials to end a general labor strike in Africa's largest crude producer.

  • TNK-BP Sells Kovykta Gas Field Stake to Gazprom Friday, 22 Jun 2007 | 10:30 AM ET

    BP said on Friday its Russian joint venture TNK-BP had agreed to sell Gazprom its 62.89% stake in Rusia Petroleum, the company which holds the licence for the Kovykta gas field in East Siberia.

  • Oil Prices Steady, Focus on Nigeria Strike Friday, 22 Jun 2007 | 8:28 AM ET

    Oil prices steadied on Friday as Nigerian crude exports continued unabated despite a strike by unions.

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