The company said it’s cooperating with the SEC and believes its activities in Angola have complied with all laws. More »
Parnon Energy, an oil logistics company, and London-based oil trader Arcadia Petroleum Ltd. agreed to pay $13 million to settle a U.S. regulator’s claims they manipulated oil futures prices. More »
Oil for September delivery gained 41 cents to settle at $98.29 a barrel. More »
Mexico’s Lower House early passed the last package of bills to regulate an end to Petroleos Mexicanos’s state-oil monopoly, sending the legislation to the Senate for final approval after making minor changes on pension and retirement issues. More »
Occidental Petroleum Corp., the global oil producer that is pursuing a breakup to boost returns, said second-quarter profit rose as it continues to try to reduce costs. More »
Exxon Mobil Corp., the world’s largest energy company, fell after reporting worldwide oil and natural gas production declined to the lowest level in almost five years.
Royal Dutch Shell, Europe’s biggest oil company, beat analyst second-quarter earnings estimates while pushing ahead with a restructuring program that saw it write off about $1.9 billion in U.S. gas assets. More »
A subsidiary of Petroleos Mexicanos will form a joint venture with Geneva-based Mercuria Energy Group Ltd. to handle the gas and will aim to be one of the five largest participants in the North American natural gas market. More »
Chevron must meet several conditions imposed by the Richmond planning commission while installing a new hydrogen plant at its complex, including limits on sulfur processing and emissions. More »
Total is counting on new projects to increase its oil production to 2.6 million barrels a day in 2015 and to about 3 million barrels two years later.
Chesapeake Energy Corp., the U.S. natural gas producer that almost ran out of money last year, is spending $1.71 billion to expand access to oil-soaked shale in Wyoming and buy back preferred shares that were a drain on cash. More »
The forecast was lowered to 2.41 million barrels of oil a day from a prior projection of 2.5 million, said Gustavo Hernandez, Pemex’s head of exploration and production. More »