TEXAS, Texas _ Occidental Petroleum Corp. on Thursday reported profit of $1.21 billion in its third quarter. The Texas, Texas- based company said it had profit of $1.55 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.67 per share.» Read More
The Bakken, Eagle Ford and Permian Basin are generating more than a million barrels of oil per day each, a third of U.S. daily production.
U.S. shale has put the country on the same terrain as Saudi Arabia and Russia. In the process, it may turn oil into a safe haven.
*U.S. sanctions on Russia include Rosneft, Exxon's partner. OSLO, July 21- An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for Exxon Mobil Corp..
Even as U.S. shale companies pursue mergers, analysts don't expect them to become echoes of Big Oil deals that eventually fell flat.
But away from the bad-tempered litigation in U.S. courts, which has dominated the news about Argentina for months, the country is experiencing an oil drilling boom as international companies seek to cash on its huge shale resources.
*U.S. sanctions on Russia include Rosneft, Exxon's partner. OSLO, July 21- An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for ExxonMobil.
*Gross refining margin $8.7/ bbl in Q1 from $8.4/ bbl yr ago. MUMBAI, July 19- Indian energy conglomerate Reliance Industries Ltd's quarterly net profit topped market expectations, bolstered by strong revenue growth in its oil and gas business and higher margins in its core refining business.
A Texas judge upheld a $3 million verdict in favor of a family who claimed that oil and gas drilling near their land made them sick.
July 15- A Texas judge upheld a $3 million jury verdict by ruling in favor of a family who claimed that oil and gas drilling near their land made them sick, in a landmark case hailed as a victory by anti-fracking activists. Judge Mark Greenberg on July 9 entered a final judgment for the Parrs and denied Aruba's bid to overturn the multimillion dollar jury award.
Big mergers are afoot. But is a major shale oil deal a sign of a strong market?
Whiting Petroleum said it would acquire Kodiak Oil& Gas for $3.8 billion, becoming the largest producer in North Dakota's Bakken shale play.
The United States is swimming in oil and gas. However, processing this bounty is posing a challenge to U.S. refiners.
HAVANA, July 11- Russian President Vladimir Putin pledged to help revive Cuba's struggling offshore oil exploration on Friday at the start of a six-day tour of Latin America as Russia aims to reassert its influence on the communist-ruled island.
The U.S. is producing vast amounts of oil—but isn't quite in Saudi Arabia's league just yet, according to experts.
LONDON, July 10- Two years ago Total's chief Christophe de Margerie launched a "high risk, high reward" oil exploration strategy, betting he could hit a bonanza, even though his rivals had failed to make big discoveries.
MOSCOW/ LONDON, July 9- With President Vladimir Putin watching from afar, the head of Rosneft, Igor Sechin, launched the world's biggest oil drilling platform in the Okhotsk Sea to warm handshakes with his colleagues from ExxonMobil.
RIO DE JANEIRO, July 8- Brazil's most promising offshore oil province, the Santos Basin, has 400 times the number of oil leaks as its older and more prolific neighbor, the Campos Basin, a Brazilian university study says, raising concern about the environmental sustainability of the country's new oil wealth.
A "very small number" of disposal wells are behind a swarm of earthquakes plaguing Oklahoma, according to a new study.
ALBANY, N.Y., June 30- New York state's top court ruled on Monday that towns have the authority to ban gas drilling within their borders, giving a boost to opponents of the drilling method known as fracking.
ALBANY, N.Y., June 30- New York's top state court has held that towns have the authority to ban gas drilling within their borders, giving a boost to opponents of the drilling method known as fracking.