U.S. crude inventories probably climbed to the highest level in almost 22 years as the reversal of the Seaway pipeline proved insufficient to alleviate a glut in the central part of the country, a Bloomberg survey showed. More »
A solar-powered boat has traveled more than 300 miles down the Erie Canal in the northeast. The owner, Bob Meacham, said the boat is the first of its kind, and the boat isn’t a modified gasoline-powered boat. More »
A Kuwaiti-led energy consortium on Wednesday won the right to search for oil and gas in southern Iraq as part of the country’s fourth postwar energy auction. Two natural gas exploration deals meanwhile attracted no bidders. More »
Cove Energy Plc (COV), the U.K. explorer with a share in gas fields off Mozambique, reached a record in London after the African country approved a bid by Thailand’s PTT Exploration and Production Pcl. More »
Activists held a press conference and teach-in on Tuesday in San Franciso, and plan to protest outside the gates of Chevron headquarters during Wednesday’s meeting. Some will try to enter the meeting and address shareholders directly.
The offshore drilling industry is still rebounding from a five-month moratorium and new regulations after the 2010 Gulf oil spill, with consumers paying the price at the pump, according to a new report out today. More »
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