W&T Offshore has agreed to sell its stake in a West Texas oil field to a private equity start-up company for $376 million, the latest oil deal geared toward supporting a seller’s financial books amid cheap oil prices.
Originally built by the U.S. government to process fuel for Allied aircraft during World War II, Phillips 66’s Sweeny plant now is the largest refinery by capacity in the portfolio of Phillips 66, Houston’s biggest Fortune 500 company.
LAKE CHARLES, La. — The Justice Department wants a federal judge to fine Citgo Petroleum Corp. at least $197 million in a Clean Water Act enforcement lawsuit filed in a 2006 oil spill at the company’s Lake Charles refinery. The Advocate reports the Justice Department argued in court filings this month that the legal maximum […]
Helmerich & Payne and other early adopters of new rig advances have held an edge over latecomers with older models, but the technology gap is narrowing and a recent upturn in demand may begin leveling the field, according to a report released this week.
Anadarko Petroleum Corp. (APC) officials urged BP Plc to drill deeper into the Gulf of Mexico well that caused the worst offshore oil spill in U.S. history even after BP warned that doing so would be unsafe.
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