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Posted by Loren Steffy on 2011-02-01 07:27:55
Typically, asset sales raise concerns among employees about job cuts and other changes, Loren Steffy writes. Given the history of BP’s Texas City refinery, though, it seems unlikely a new owner would make anything other than improvements.
Posted by Tom Fowler on 2011-02-01 06:46:11
BP’s new strategy includes selling its Texas City refinery and focusing on exploration and production, the company said. The oil giant also reported a $3.7 billion fourth quarter profit and a return of its quarterly dividend.
Posted by Bloomberg on 2011-01-31 16:10:26
For Egypt, home to Africa’s sixth-biggest oil reserves, crude and natural gas are the biggest source of export income, accounting for about 12 percent of gross domestic product.
Posted by Associated Press on 2011-01-31 16:04:03
BP won’t identify the business that received a $10 million payout, citing confidentiality, but acknowledges it lobbied for the settlement.
Posted by Tom Fowler on 2011-01-31 09:41:53
The Mississippi refinery project will make Chevron the largest producer of base oil, a key ingredient in synthetic lubricants. (AP Photo/Paul Sakuma)
Posted by chron.com Energy on 2011-01-31 00:30:00
Clyde Meltzer’s friends and colleagues say the trader accused in an $80 million kickback scheme in a was a hard-nosed negotiator on business matters, but personally generous. They describe a doting grandfather who flew from New Jersey to Houston to attend Little League games, gave to a number of local charities and loaned money to help family friends start businesses.
Posted by Staff on 2011-01-29 00:20:58
Sockets are sprouting alien light forms as the incandescent bulb faces a government-mandated wattage diet in the next year. Under the Energy Independence and Security Act, incandescent bulbs must trim their energy use by 25 percent to 30 percent.
Posted by Associated Press on 2011-01-28 17:03:19
The Bureau of Ocean Energy Management, Regulation and Enforcement is investigating whether a Transocean worker’s handling of a key a piece of evidence in the Gulf oil spill probe affected the integrity of the examination of the device.
Posted by Brett Clanton on 2011-01-28 11:08:33
Apache Corp. says its oil and gas operations and production are far away from urban centers and remain unaffected, but investors continue to punish the stock as political unrest grows.
Posted by Associated Press on 2011-01-28 08:20:04
The San Ramon, Calif. company on Friday reported net income of $5.3 billion, or $2.64 per share, for the final three months of 2010. That compares with $3.1 billion, or $1.53 per share, in the same part of 2009.