Interior secretary to oil industry: Don’t throw regulators under the bus
During a closed-door meeting with oil industry leaders on the sidelines of the Offshore Technology Conference, Interior Secretary Sally Jewell pleaded for cooperation and a little understanding, as federal drilling regulators aim to keep pace with rapidly evolving technology.
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Marathon Oil reports 41 percent drop in 4Q profit
Marathon Oil Corp. reported Wednesday a 41 percent drop in fourth-quarter profit despite an increase in revenue. More »
Is the Eagle Ford for real?
Thousands of workers and major oil companies are flooding into South Texas. But some are reluctant to invest in houses and other permanent infrastructure. A “When will it bust?” mentality hangs over the region. More »
Marathon Oil creates new position to oversee upstream activities
Michael J. Stover has been named to the newly created position of vice president of operations services at Marathon Oil Corp. More »
Marathon Oil profits rise on higher production
The Houston-based corporation reported a 11 percent increase in third quarter earnings as the company boosted its oil and natural gas production. More »
Marathon expands in Eagle Ford with Paloma acquisition
Marathon Oil will get 17,000 acres in the Eagle Ford Shale through its acquisition of Paloma Partners II. More »
Financial woes fuel busy year for refining deals
The value of mergers, acquisitions and other deals involving refining assets surged 50 percent to $6 billion in 2011, fueled by industry’s financial troubles, according to an IHS Herold report. More »
Update: Marathon Oil grows capital spending 24 percent
Marathon Oil announced Wednesday its 2012 capital spending budget of $4.8 billion, with most of the increase slated exploration and production in the south Texas Eagle Ford shale. More »
Exxon, Marathon, Morgan Stanley and others could face fines
ExxonMobil, Shell Oil, Marathon Petroleum Co. and other firms could face million of dollars in energy license fines for uses fraudulent renewable fuel credits, according to a Politico story. More »
Marathon Oil 3Q net income drops on charge
Marathon Oil Corp.’s third-quarter net income declined 42 percent, pulled down by a hefty charge tied to foreign tax credits. Its quarterly results missed Wall Street’s expectations, and its stock fell in morning trading. More »
Marathon’s $2.2B Detroit refinery expansion irks some neighbors
The expansion at the 81-year-old refinery will enable Marathon to process more Canadian oil sands. Some people living near the site accuse the Houston-based company of making lowball offers to buy their homes to make room for the project. More »
FuelFix Q&A: Marathon says Eagle Ford purchase worth the price
At nearly $25,000 per acre, Marathon’s deal to buy 141,000 acres in the Eagle Ford shale from a Hilcorp/KKR venture may seem a bit rich. But as Marathon CEO Clarence Cazelot notes, “not all acres are created equal.” More »
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