Category: Crude oil

Norway’s Statoil to buy Brigham for $4.4 billion

The Norwegian oil giant gets a foothold in the U.S. Bakken shale with the deal.  More »

Oil prices fall as Europe’s debt plan elusive

Oil has tumbled about 24 percent since May on fears of a slowdown in the global economy.  More »

Dubai gasoline company questions cut-rate fuel

When its gasoline pumps started going dry in the United Arab Emirates’ poorer northern states earlier this year, Dubai’s oil company blamed mysterious service upgrades.  More »

Ambani armed with $12.6 billion to buy assets as energy valuations slump

Billionaire Mukesh Ambani’s Reliance Industries is poised to use its record cash for overseas acquisitions to take advantage of the cheapest valuations of oil and natural gas companies in three years as profit growth slows.  More »

Statoil expands U.S. footprint U.S. with $4.4 billion purchase of Brigham

Statoil will pay $4.4 billion for Austin-based Brigham Exploration, giving the Norwegian giant a stake in the prolific Bakken shale.  More »

Anadarko settles spill claims with BP for $4 billion

Anadarko will pay BP $4 billion to be free of all future liabilities related to the deadly Deepwater Horizon accident and ensuing oil spill.  More »

North Dakota to pass Calif. as oil producer

Not considered a big oil state until recently, North Dakota went from the ninth-biggest producer in 2006 to fourth in 2009, where it currently stands. The boom is thanks to advances in drilling and hydraulic fracturing techniques and a rise in oil prices that made it more profitable for companies to tap into the vast reserves trapped in the Bakken and Three Forks shale formations.  More »

Technology, high prices fuel oil rush in Arctic

As the global hunt for oil gets tougher, the icy expanse of the Arctic – one of the last frontiers left for exploration – is looking more attractive to some producers.  More »

Obama Energy Tax’s Impact on Shipbuilders, Shoemakers, Steel Workers

In 2008, President Obama catapulted his way to the White House in part on his promise to “green” the economy. Three years later, the administration is still over 4 million shy of delivering on the 5 million green jobs promised, taxpayers are on the hook for the hundreds of billions of dollars loaned to now-bankrupt […]  More »

Rig count rises by 11

The number of rigs actively exploring for oil and natural gas in the U.S. rose 11 this week to 2,023.  More »

Airlines can’t grow enough alt-jet fuels… at least not yet

Alternative fuels aren’t cheap, and there aren’t many providers. So the subsidiaries of United Continental Holdings are still powering their jetliners with conventional fuels, two years after first successfully testing biofuels on a flight. For now, no provider has an ample supply of biofuel at the right price, said Jimmy Samartzis, the company’s managing director […]  More »

U.S. will let BP bid on Gulf leases again

Some lawmakers don’t want to let BP take part in Gulf of Mexico oil and gas leases, but the company says it has learned its lessons from the Deepwater Horizon accident.  More »