The US has imposed sanctions against the Crimean subsidiary of Ukraine's national gas company, after its annexation by Russia. The FT reports.» Read More
Royal Dutch Shell Plc and Dow Chemical are in talks with the Iraqi government to renovate and expand a chemical plant in southern Iraq at a cost of up to $2.1 billion, the Iraqi industry minister said.
Oil finished above $71 a barrel on Friday, buoyed partly by strong gains in gasoline futures in New York.
Oil prices hovered near eight-week lows Thursday as traders tried to decide if the risk of an economic slump dampening demand is bigger than potential threats to supplies.
Woodside Petroleum, Australia's largest independent oil and gas producer, reported a 10.6% rise in first-half net profit on Wednesday, due to higher output, and reaffirmed its 2007 production forecast.
Exxon Mobil has delayed work on the 71,600 barrel per day gasoline-making fluid catalytic cracking unit at its 188,160 barrel per day refinery in Chalmette, La., trade sources said on Tuesday.
Kazakhstan threatened on Tuesday to revoke an Eni-led consortium's permit to exploit the giant offshore Kashagan oilfield due to environmental law violations.
Gulf of Mexico oil and natural gas producers were evacuating offshore workers and shutting small amounts of production over the weekend as they watched powerful Hurricane Dean storm across the Caribbean Sea toward an entry into the Gulf next week.
Energy companies in the Gulf of Mexico stepped up evacuations of workers Friday ahead of the first Atlantic hurricane of 2007, even as most revised forecasts showed the storm missing oil and gas installations.
Oil prices jumped Friday after the U.S. Federal Reserve cut a key interest rate to calm financial markets and on concerns Hurricane Dean could hit Gulf of Mexico installations.
A fire broke out Thursday at Chevron's largest U.S. refinery in Pascagoula, Miss., but authorities said there were no immediate reports of injuries.
Shell Oil was pulling nonessential workers from the western U.S. Gulf of Mexico on Tuesday as the company prepared to shut in 5 million cubic feet of natural gas production off the south Texas coast, the company said.
Things are a bit calmer today: volatility much lower, volume still heavy, but not as heavy as last 6 or 7 days. Three stocks advancing for every two declining.
Royal Dutch Shell sold three French oil refineries and gas field stakes in Norway for $2.5 billion on Thursday, pressing ahead with its strategy to divest lower-returning assets.
Oil company Total said Thurdsay that second-quarter net profit was little changed as improved refinery margins failed to offset the weaker dollar.
Marathon Oil said Tuesday it agreed to buy Canada's Western Oil Sands Inc. for about $5.56 billion, giving the U.S. oil company a foothold in one of the world's most promising streams of new crude oil.
Royal Dutch Shell bucked an industry-wide trend of falling earnings on Thursday, posting a 20% rise in second-quarter profits to $7.556 billion, as fat refining margins helped outweigh lower output.
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Oil eased on Wednesday, after an unexpected drawdown in crude oil inventories in top consumer the United States helped the market pare earlier losses.
U.S. oil rose above $72 on Tuesday, and London Brent hit another 11-month high above $76, the 10th straight day of gains that have lifted crude by $6 to within striking distance of its record.
U.S. oil eased on Monday, while London Brent rose to an 11-month high above $76 a barrel, as rising global oil demand and North Sea field maintenance exacerbated supply worries.