Category: Crude oil

Exxon strikes deal with Philly shipyard for two oil tankers

Exxon Mobil Corp. reached a deal with a Philadelphia shipyard to build a pair of oil tankers that will ferry crude oil from Alaska to the West Coast.  More »

Repatriation tax rate of 25% planned by Nev. Democrat Berkley

Representative Shelley Berkley, a Nevada Democrat, is the latest lawmaker to consider legislation allowing multinational companies to send offshore profits to the U.S. at a reduced tax rate.  More »

Iraq says oil exports continued to rise in June

Iraq’s oil ministry says oil exports have inched up in June by slightly over 2 percent compared to the previous month.  More »

Petrobras approves $225B budget through 2015

The plan means the Brazil’s state-owned oil giant will spend about $45 billion a year over the next five years on energy investments, outpacing Exxon Mobil Corp., the world’s largest public traded oil company.  More »

Analysts see oil rising if U.S. defaults on debt

Oil was down slightly Monday with eight days left before the deadline. Analysts say they’re still confident that Congress will not allow the nation to default, but oil investors could still hedge their bets and begin pricing in the possibility of a default by the end of the week.  More »

Texas energy employment returns to record highs

Employment in Texas’ oil and gas industry has returned to pre-recession highs, with more than 224,200 workers in the exploration and production business. Rig counts have yet to rebound fully, however.  More »

Compensation for Houston top executives gushes higher

Executive pay packages surged in 2010, as Houston’s largest companies started recovering from the recession and rewarded their leaders with big cash bonuses and valuable stock awards.  More »

A shareholder say on pay can bring a nay

The pay packages that have made Nabors Industries executives perennial top earners in Houston drew a thumbs down from shareholders under regulations that let them go on the record about executive pay.  More »

Big Oil expects big profits, drivers’ anger over gas costs

Major oil producers will have the chance to discuss and, if necessary, defend the results when they release quarterly financial reports in coming days.  More »

BP violates oil-pollution law in claims process, lawyers say

BP Plc is using “coercive tactics” to force victims of the 2010 Gulf of Mexico oil spill to agree to final settlements with a claims fund, lawyers suing the company said.  More »

BP to expand exploration in Trinidad and Tobago

BP says it has been awarded new exploration and production rights off the eastern coast of Trinidad.  More »

BP split could unlock $100 billion for investors, JP Morgan says

A $100 billion could be unlocked for BP Plc investors if Europe’s second-biggest oil producer splits like Marathon Oil and ConocoPhillips did recently, according to JP Morgan.  More »

Dow Chemical, Saudi Aramco agree on joint venture

Dow Chemical and the Saudi Arabian Oil Company have agreed to set up a joint venture to build a massive $20 billion chemical complex in the desert kingdom.  More »

Accused Norway shooter listed BP oil and gas platforms as potential targets

The man accused of the Norway massacre included BP’s Aberdeen base and oil and gas platforms in the North Sea on his potential lsit of targets, according to the BBC.  More »

Special master sought to oversee oil spill claims

The attorneys for people and businesses suing BP over last year’s Gulf oil spill want a federal judge to appoint a special master to oversee the claims process.  More »