Iran’s Ahmadinejad to run oil ministry after restructuring
Two days ago, the Iranian president dismissed Oil Minister Masoud Mir-Kazemi, Industry and Mines MinisterAli Akbar Mehrabian, and Welfare Minister Sadegh Mahsouli as part of a plan to improve government efficiency and reduce the number of ministries to 17 from 21 by 2015. More »
Rowan Cos. cuts $1 billion deal to sell LeTourneu unit
The Houston-based offshore drilling contractor said it expects to use $875 million in after-tax tax proceeds from the sale to expand its fleet of shallow-water drilling rigs or expand into the ultra deep water drilling business.
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Noble’s Leviathan suffers a setback off Israeli coast
Water flowing outside the wellhead of an appraisal well in the deep waters of the Mediterranion have Houston-based Noble abandoning the well for another site. More »
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BP seeks TNK buyout to save Rosneft deal
An agreement has yet to be reached on buying Russian billionaires’ half of TNK-BP, several sources said, but the deal may be worth about $30 billion. A planned share swap with Rosneft expires today. More »
FuelFix Newslinks |05.16.11|
Shale contrarian speaks up, lots of fracking noise, relief for gas-price angst. More »
Mississippi River flooding threatens 2,200 Louisiana wells
Nine of the 125 gates at Louisiana’s Morganza floodway opened yesterday, allowing the muddy Mississippi to pour into the Atchafalaya River basin and putting at risk about 10 percent of Louisiana’s onshore oil and gas wells as part of a strategy to save industrial areas that include an Exxon Mobil refinery. More »
Rising airfares for summer are grounding some travelers
A recent search for a flight from Newark to London uncovered a $300 fare — plus a fuel surcharge of $350. Fees like these plus higher ticket prices are driving consumers to scour travel sites in search of deals, but many aren’t clicking the buy button. More »
Libya’s oil giant turns off the pump until the fighting stops
Libya’s biggest petroleum company says it will not produce oil until the war ends, and that probably applies to the entire country. The decision came after rocket attacks April 4 badly damaged a pumping station and production facilities. More »
Petrobras first-quarter profit beats estimates on crude prices, output
Net income rose to 10.99 billion reais ($6.72 billion) from 7.73 billion reais in the year earlier period, the Brazil’s state-controled oil giant said. More »
With gas costs high, Obama administration to speed oil production
Amid growing public unhappiness over gas prices, President Barack Obama is directing his administration to ramp up U.S. oil production by extending existing leases in the Gulf of Mexico and off Alaska’s coast and holding more frequent lease sales in a federal petroleum reserve in Alaska. More »
Gasoline nears $4, but relief may be down road
The driving boom that usually starts with the summer travel season typically would push prices even higher. But drivers are already resisting at the pump, and that declining demand should put downward pressure on gasoline prices. More »
Transocean shareholders OK $1 billion dividend
Shareholders of Transocean approved a $1 billion dividend on Friday and rejected a company-backed plan to discharge directors and executives for liability stemming from last year’s Gulf of Mexico oil spill. More »
April 26, 2013
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