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The Saudi's investment in a Texas refinery's expansion is meant to ensure that it will retain an important market for its crude in the United States at a time when American politicians intend to wean the country off imported oil, The New York Times reports.
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HOUSTON-- After two Texas prosecutors were slain in two months, law enforcement agencies across the state are considering steps to better protect attorneys who go after violent criminals, including providing round-the-clock security details and withholding personal information from public records.
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CHICAGO, April 4- Cold and wet weather in the U.S. "Temperatures will remain cold and it definitely will keep soil temperatures low, so plantings will remain behind normal," said Don Keeney, a meteorologist for MDA Weather Services. Texas and southwest Oklahoma will remain dry, "Keeney said.
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HOUSTON, April 3- Exxon Mobil Corp on Wednesday was digging out oiled lawns to replace them with fresh sod in an Arkansas neighborhood where a crude oil pipeline ruptured last week, but the line remained shut with no estimate of when it would restart, the company said.
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The Coast Guard last month quietly sent to the White House's Office of Management and Budget a proposal to allow the barging of fracking wastewater.
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HOUSTON-- Crest Financial Ltd., the largest minority shareholder of Clearwire Corp., is offering the wireless operator $240 million in debt financing, which would free it up to consider options beyond a takeover offer from Sprint Nextel Corp..
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NEW YORK-- A Raymond James analyst upgraded four restaurant chains Wednesday, citing falling prices for ingredients and a return to more normal consumer demand levels in recent weeks after a weak February. Analyst Bryan Elliott upgraded Brinker International, which owns Chili's, to "Outperform" from "Market Perform."
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When the Mississippi Legislature recently voted to legalize home brewing, the move left Alabama as the only state where the procedure is illegal. Supporters argued that many in Alabama are already making their own beer. McCutcheon said it doesn't make sense for Alabama to restrict people from pursuing a hobby that the federal government and 49 states allow.
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RADNOR, Pa.-- Oil and gas company Penn Virginia said Wednesday that it's buying some property and wells in Texas from Magnum Hunter for about $400 million to help it expand in the oil- and gas-rich Eagle Ford Shale. The acquisition gives Penn Virginia Corp. about 40,600 mineral acres in Texas near current holdings.
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DUBAI/ KHOBAR, April 3- Saudi Arabia is unlikely to produce much shale gas this decade, hampered by scarce water and prices fixed far below production costs, but it has the reserves, the desire and the potential to become a shale giant one day.
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THE WOODLANDS, Texas-- Newfield Exploration Co. shares rose Wednesday after the oil and gas company announced a significant natural gas discovery off the coast of Malaysia. Newfield holds a 30 percent interest and Partners Diamond Energy Sarawak, a subsidiary of Mitsubishi Corp. and Peteronas Carigali has the rest.
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PERTH, April 3- U.S. crude futures dropped below $97 per barrel on Wednesday after data showed a sharp build in inventories in the world's top oil consumer, while the possibility of a prolonged pipeline outage in the Midwest also hurt prices. *U.S. crude for May delivery fell 53 cents to $96.66 per barrel at 0027 GMT on Wednesday.
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LITTLE ROCK/ HOUSTON, April 2- U.S. pipeline regulators on Tuesday ordered Exxon Mobil Corp to take necessary corrective action for its ruptured pipeline that spilled thousands of barrels of crude oil into a small Arkansas housing development last week.
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April 2- J.C. Penney Co Inc Chief Executive Ron Johnson received total compensation of $1.9 million in 2012, according to a regulatory filing on Tuesday, a sharp decline after a year that saw the department store chain's sales fall perilously.
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MINNEAPOLIS-- Medical device maker Medtronic Inc. said Tuesday it received U.S. clearance for a new artificial lung system for patients who are undergoing open heart surgery. Each year about 1 million patients worldwide undergo cardiopulmonary bypass surgery, a procedure in which the heart and lungs are temporarily stopped, according to Medtronic.
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Brent crude oil rose early, then reversed to fall as much as $1 a barrel, before settling down 39 cents a barrel at $110.69. The Brent-U.S. crude spread narrowed in choppy trading to settle at $13.50 a barrel, after widening to as much as $14.66 during the session. U.S. crude slipped in post-settlement trading, and was down 22 cents at $96.85 as of 4:52 p.m. in New York.
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CALGARY, Alberta, April 2- Two high-profile oil spills won't stem the now-record flow of Canadian oil into the United States, despite the frenzy that the spills triggered among friends and foes of the Keystone XL pipeline to the main U.S. refineries.
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Brent crude oil rose early, then reversed to fall as much as $1 a barrel, before settling down 39 cents a barrel at $110.69. U.S. crude slipped in post-settlement trading, and was down 22 cents at $96.85 as of 4:12 p.m. in New York. The premium of Brent to U.S. light sweet crude ended at $13.50 after the spread between the two widened as much as $14.66.
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DALLAS-- Consumer products company Kimberly-Clark Corp. said Tuesday that it is buying Life-Tech Inc.' s anesthesia business. Kimberly-Clark distributed those products as part of a previous deal with Life-Tech.. Shares of Kimberly-Clark rose $1.81 to $99.74 in afternoon trading.
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*Arkansas AG asks Exxon to keep all documents on spill. LITTLE ROCK/ HOUSTON, April 2- Arkansas on Tuesday launched an investigation into an Exxon Mobil pipeline rupture that spilled thousands of barrels of crude oil into a housing development last week, just as forecast rain was expected to complicate the clean-up.
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April 2- Arkansas has launched an investigation into Exxon Mobil Corp's ruptured crude pipeline that released thousands of barrels of barrels of oil into a subdivision, Attorney General Dustin McDaniel said on Tuesday.