HOUSTON— Halliburton says it has agreed to pay $1.1 billion to settle a substantial portion of plaintiff claims arising from the 2010 Gulf of Mexico oil spill. Halliburton was BP PLC's cement contractor on the drilling rig that exploded in the Gulf in April 2010, killing 11 workers and triggering the largest offshore oil spill in U.S. history.» Read More
Ford Motor said Monday it would eliminate shifts at four U.S. plants and lay off some 2,500 workers -- or almost 5 percent of its remaining work force -- as part of an effort to cut costs and return to profitability next year.
Venezuela wants next week's OPEC meeting to discuss its escalating legal battle with Exxon Mobil, a Venezuelan official was reported by Algeria's official APS news agency as saying on Saturday.
U.S. motorists may face gasoline prices as high as $4 a gallon this summer as crude oil costs smash records, painting a bleak picture for consumers already feeling the pinch of an economic slowdown.
A big chunk of new speculative money that has poured into energy futures has gone into options, which can now play a bigger role in driving the ups and downs in the price of crude oil.
Ford Motor expects to produce 685,000 vehicles in North America during the first quarter of 2008, 55,000 fewer than the first three months of last year, the company said in a report filed Wednesday with the Securities and Exchange Commission.
The United States threw its full diplomatic weight on Friday behind the European Union's troubled Nabucco pipeline project to bring gas from the Caspian Basin to central Europe.
Top world wind power plant producer Vestas on Monday raised its 2007 sales and profit outlooks on the back of smoother production and a strong fourth quarter, sending it shares 7.9 percent higher.
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Output from the world's oil fields is declining at 4.5 percent per year -- significantly slower than the 8 percent rate many analysts have assumed, according to a study by Cambridge Energy Research Associates released Thursday.
British airline Virgin Atlantic said on Monday it would run the world's first commercial jet flight powered by biofuel between London Heathrow and Amsterdam next month.
The average price for a gallon of gasoline in the United States rose nearly 10 cents due to high crude oil prices, but they are not likely to continue to climb in the immediate future, an industry analyst said on Sunday.
French President Nicolas Sarkozy confirmed on Sunday plans to sign a nuclear cooperation agreement with the United Arab Emirates amid reports French firms could construct up to two nuclear reactors there.
OPEC's ability to tame oil prices that hit a record high above $100 a barrel last week is curbed by limited unused production capacity, officials from the exporter group and analysts say.
The International Energy Agency will not release its emergency crude stocks to calm record oil prices, the body's deputy head said on Thursday.
California sued the U.S. Environmental Protection Agency on Wednesday for denying its first-in-the-nation greenhouse gas limits on cars, trucks and SUVs, challenging the Bush administration's conclusion that states have no business setting emission standards.
Orion Energy Systems soared in its market debut Wednesday, a day after an initial public offering priced in the middle of a forecast range.
President Bush signed into law Wednesday legislation that will bring more fuel-efficient vehicles into auto showrooms and require wider use of ethanol, calling it "a major step" toward energy independence and easing global warming.
The European Commission agreed on proposed legislation on Wednesday to force down emissions of carbon dioxide (CO2) from cars with steeply rising fines on manufacturers that fail to comply, an EU source said.