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Moody’s: Oilfield services outlook brighter

The outlook for the global oilfield services industry has changed to positive from stable, reflecting higher earnings expectations for most oilfield services and land drilling companies in 2011, according to a report from Moody’s Investors Service Lt…  More »

Oilfield services sector outlook improves, Moody’s says

Moody’s Investor Services Ltd. has boosted its outlook for the oilfield services sector from stable to positive, saying that increased global energy demands and tight capacity will continue to pave the way for higher oil…  More »

BP shares slide in wake of federal lawsuit

Shares of BP Plc dropped 3.2 percent Thursday in London trading in reaction to the U.S. Justice Department’s filing of a civil lawsuit against the oil giant and other companies tied to the Deepwater Horizon Gulf rig disaster. Meanwhile, Transocean Ltd….  More »

Duke Energy hits record use in cold snap

Duke Energy Carolinas’ customers set a record for winter power use this morning — hitting 17,570 megawatts for the hour that ended at 8 a.m. That bests the previous peak of 17,282 megawatts in an hour on Jan. 11. So 2010 started very cold and is endi…  More »

Oil majors’ asset sales likely continue in 2011

BP Plc, Royal Dutch Shell Plc and ConocoPhillips sold off nearly $50 billion in global assets in 2010 as buyers such as China were willing to pay higher prices to feed energy consumption. Experts say the asset sales picked up steam in the fourth quarte…  More »

Houston oil trader indicted in kickback scheme

Two oil traders, including a Houston man, face allegations of wire fraud and money laundering linked to their involvement with Marc Rich, who was a fugitive from tax fraud charges for more than a decade before he was pardoned by President Bill Clinton …  More »

China blows into U.S. wind industry

The ambitions of Chinese wind energy companies to begin operating on U.S. soil is getting mixed reviews. As the New York Times reports , advocates say the addition of Chinese-made turbines will speed the adoption of renewable energy and create green jo…  More »

WikiLeaks: BP escaped disaster in second well blowout

BP Plc had a little-known major blowout in Azerbaijan in 2008 similar to the Deepwater Horizon incident but without the devastating consequences, according to the U.S. diplomatic cables exposed by WikiLeaks. The company was criticized in the documents …  More »

Cabot-DEP feud $4.1M closer to over

It appears the two-year feud between Texas-based Cabot Oil & Gas Corp. and the Pennsylvania Department of Environmental Protection is settled to the tune of $4.1 million. Both parties announced the settlement yesterday, albeit with different intonation…  More »

BP shares slide in wake of federal lawsuit

Shares of BP Plc dropped 3.2 percent Thursday in London trading in reaction to the U.S. Justice Department’s filing of a civil lawsuit against the oil giant and other companies tied to the Deepwater Horizon Gulf rig disaster. Meanwhile, Transocean Ltd….  More »

Duke Energy hits record use in cold snap

Duke Energy Carolinas’ customers set a record for winter power use this morning — hitting 17,570 megawatts for the hour that ended at 8 a.m. That bests the previous peak of 17,282 megawatts in an hour on Jan. 11. So 2010 started very cold and is endi…  More »

Oil majors’ asset sales likely continue in 2011

BP Plc, Royal Dutch Shell Plc and ConocoPhillips sold off nearly $50 billion in global assets in 2010 as buyers such as China were willing to pay higher prices to feed energy consumption. Experts say the asset sales picked up steam in the fourth quarte…  More »