Spanish energy company Repsol says its second quarter net profits fell 45 percent from the same period of 2011 to €274 million ($332 million), due in the effect of lower oil prices on the value of its inventories. More »
Norwegian oil and gas group Statoil ASA says second-quarter profits dipped slightly in the second-quarter, falling just under 2 percent, in large parts due to lower prices for liquids and higher exploration costs. More »
On the second anniversary of the costliest onshore oil spill in U.S. history, environmental groups held rallies in several states Wednesday to raise concerns about transporting tar sands oil in underground pipelines. More »
Royal Dutch Shell Plc (RDSA), Europe’s biggest oil company, expanded cooperation with two of China’s state-backed producers, giving it more access to reserves in the world’s second-largest economy. More »
The House of Representatives today rejected an Obama administration plan for selling offshore drilling leases over the next five years and instead voted to replace it with a more aggressive GOP alternative. More »
Deep oil industry roots will keep Houston’s energy-driven economy powering forward over the next half century as the world continues to demand hydrocarbons, a University of Houston professor said during remarks at the Houston Chronicle. More »
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