Oil companies that had locked up more than 1.3 million acres of the Beaufort Sea for drilling in 2007 have since relinquished nearly half that territory, signaling the industry’s appetite for tapping those Arctic waters may be waning even as the Obama administration makes plans to auction off more of the area. More »
Anadarko Petroleum Corp.’s profits dropped 76 percent in the second quarter on $442 million in derivative losses, impairments and other one-time costs even as its oil production climbed higher, the company reported Tuesday. More »
Oil gas equipment provider National Oilwell Varco’s profits increased nearly 17 percent in the second quarter, the first full quarter since CEO and president Clay Williams took the reins of the Houston-based company. More »
The U.S. Coast Guard on Sunday cleared an oil tanker carrying Kurdish crude to offload its cargo, potentially paving the way for an import that could complicate U.S. relations with Iraq which has threatened to sue any buyers. More »
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