All Posts Tagged With: "BP"
(STO) Statoil ASA to Pay $2.47 Billion for New Rigs
Oil giant Statoil ASA (STO) has awarded a contract worth $2.47 billion to Norway’s Songa Offshore. Per the deal terms, Songa will build two category D semi-submersible rigs for use on Norwegian Continental...
(CVX) Chevron Expanding Caspian Pipeline
Integrated energy company Chevron Corporation (CVX), through its subsidiary Chevron Neftegaz, has commenced the construction for the expansion of the Caspian pipeline. The total value of the development project...
(COP) ConocoPhillips and Karoon Drilling Plan OK’d
The joint venture between ConocoPhillips (COP) and Karoon Gas Australia Ltd. (KAR) got the government approval to initiate a drilling operation in three blocks of the Browse Basin, about 350 kilometers off...
(BP) BP Restores Two Texas Units
As per an emissions report filed with state regulators, British energy giant BP Plc (BP) has restarted its gasoline-producing fluidic catalytic cracking (FCC) unit No.1 in its Texas city refinery.
The...
(PBR) Petroleo Brasileiro S.A. Start Extended Well Test at Aruana
Brazilian state-run Petroleo Brasileiro S.A. or Petrobras (PBR) has commenced production of oil at the Aruana area, following the start-up of extended well test (EWT). The Aruana area is in...
(AXP) Stock Market News for June 30, 2011 – Market News
On Wednesday, markets enjoyed their best three-day winning streak in three months as investor sentiment was boosted by news that the Greek austerity plan had been approved by the nation’s lawmakers. This would not only enable Greece avoid a debt default but would also help...
(STO) Statoil ASA Focuses on Offshore Wind
Norway-based Statoil ASA (STO), through its subsidiary, has signed two contracts for the sale of a major part of its key onshore wind power assets. This forms a part of Statoil’s endeavors to concentrate...
(BP) BP Seeks $15B Project in Oman
BP Plc (BP) plans to make a $15 billion capital investment in Oman over a 10-year period to form one of its largest global ventures. The company plans to develop 300 wells over the period for its Block 61 tight...
(RIG) Transocean: Blame it on BP!
In an internal investigation report, drilling contractor Transocean Ltd (RIG) – the owner and operator of Deepwater Horizon oil rig at the heart of the Gulf of Mexico (GoM) disaster –...
(XLE) Stock Market News for June 23, 2011 – Market News
Markets ended their four-day winning streak, tumbling in the late session, as the Federal Reserve slashed its growth forecast and provided no indications of further economic stimulus. All the benchmarks dropped by around 0.7% during a thin trading session, and investors were...
(RDSA) Royal Dutch Shell Fortifies UK Retail Sites
The British unit of Royal Dutch Shell plc (RDSA) entered into an agreement with Rontec Investments LLP –– led by Snax 24 Consortium –– to acquire 254 petrol retail sites in the U.K. The purchase price...
(TOT) TOTAL S.A. Sheds U.K. Downstream Business
Integrated oil and gas company TOTAL S.A. (TOT) decided to sell most of its downstream assets in the United Kingdom to Rontec Investments LLP for £400 million or $647.4 million.
The downstream assets...
(BP) BP Receives Wytch Farm Bid
British energy giant BP Plc. (BP) has received a bid for its stake in the Wytch Farm oil field, located in southwest England. The bidder – Premier Oil – is the second largest partner in Wytch Farm after...
(XOM) Exxon Mobil’s Singapore Unit Deferred
Exxon Mobil Corp. (XOM) has postponed the start-up of its 1 million tons-per-year (tpy) ethylene cracker in its second petrochemical complex in Jurong Island, Singapore by over a year. The operations, which...
(IMF) Stock Market News for June 22, 2011 – Market News
Markets ended in the green for the fourth consecutive day after Greece’s Prime Minister won a confidence vote which may help the nation avoid a sovereign debt default. While the technology and energy sectors chipped in to bolster the benchmarks, a smaller-than-expected decline...
(BP) BP Plc Secures $75 Million from Weatherford International
BP Plc (BP “> ) has rea ched an agreement with an affiliate of Weatherford International Ltd....
(STO) Statoil Sets Long-Term Goals
Statoil ASA (STO) has set long-term growth goals for itself. The Norwegian company expects production to exceed 2.5 million barrels of oil equivalents per day in 2020 from 1.9 million barrels in 2010.
For...
(AAPL) Stock Market News for June 20, 2011 – Market News
Reports of a possible resolution to Greece’s debt crisis put the market on track for a finish in the green. Combined with mixed economic reports, this development helped benchmarks end their six-week losing streak. A decline in oil prices lifted the indices higher, but losses...
(STO) Statoil ASA Reaches Leismer Milestone
Norwegian operator Statoil ASA (STO) has reached a production milestone of 1 million barrels of oil at its Leismer Demonstration Project (LDP) in northern Alberta, Canada.
Although oil sands require...
(XLF) Stock Market News for June 16, 2011 – Market News
Disappointing economic data combined with concerns over Greece to drag the markets lower yet again, on Wednesday. This development significantly diminishes the possibility of benchmarks avoiding their seventh straight week of losses. Financials, materials and energy dragged...
(XOM) Exxon Mobil Makes Giant Gulf of Mexico Discovery
Exxon Mobil Corporation (XOM) announced the discovery of oil and gas in three major blocks in the deepwater Gulf of Mexico, marking the company’s first deepwater exploration since the end of the drilling...
(BBY) Stock Market News for June 15, 2011 – Market News
A better-than-expected retails sales report lifted the overall market to record their largest gains in almost two months on Tuesday. After the markets recorded its first sixth consecutive week of losses since the fall of 2002 last week, gains akin to yesterday’s will enable...
(XLE) Stock Market News for June 13, 2011 – Market News
On Friday, the benchmarks ended in the negative zone on fears of a slowing global economic recovery and markets recorded their sixth-straight week of losses. Showing signs of weakness, the Dow dropped below the 12,000 level for the first time since mid-March, all 10 industry...
(XLE) Stock Market News for June 10, 2011 – Market News
Finally, investors enjoyed some cheer as the markets broke their six-day losing streak buoyed by positive data on export levels and a shrinking trade deficit. While this report provided optimism about a recovery in the economy, job data once again failed to suggest any improvement....
(BP) World, U.S. Oil Production Rises in 2010
World oil production rebounded by 2.2% in 2010 to reach 82.095 million barrels per day (B/D), up from 80.278 million B/D in 2009, but virtually unchanged from 2008 levels. World oil consumption, though, increased by 3.1% to hit 87.382 million B/D.
Due to the inclusion...
(XOM) Big Oil Tax Credits Survive
A bill to scale back multi-billion-dollar tax breaks for major oil firms was defeated in the U.S. Senate on Tuesday. The Democrat-sponsored measure to strip the companies of about $21 billion in tax subsidies over the next 10 years and steer the savings to reduce the federal...
(AAPL) Stock Market News for June 1, 2011 – Market News
After a volatile trading session, indices finally ended with modest gains buoyed by optimism over Greece’s new plans to tackle its debt crisis. However, on a monthly basis, benchmarks were left lingering in the red. Markets had dropped down during the session as weak economic...
(DTE) DTE Energy Gets New Partners
DTE Energy (DTE) welcomes two new members – Tesla Motors Inc. (TSLA) and the Electric Power Research Institute (“EPRI”) —...
(BP) Making Money on Triple-Digit Oil
Wednesday trading action in crude oil saw the black gold stick its head above $100, which may be the least psychologically-significant round number out there since the people who do the trading are mostly professional speculators and energy companies who have lots of other...
(XOM) Senate Junks Offshore Drilling Bill
While motorists continue to complain over high gasoline prices, the Democrats and Republicans are engaged in a bitter fight as to what course of action to take.
A bill that would have accelerated and expanded offshore oil drilling was defeated in the U.S. Senate on...