The oil spill liability could extend well beyond British Petroleum as Transocean Ltd., Halliburton Co. and Cameron International Corp. all had some exposure to this series of current events.
Continue reading "British Petroleum Oil Spill Draws Criminal Speculation"
Monday, May 4, 2009
Exxon Mobil Corporation announced that it has recently posted a dip in profits by 58% to $4.55 billion in Q1 2009 against $10.89 billion in 2008 following a $100 fall in global oil prices. For full story, click here
Continue reading "Exxon Mobil loses stock sheen on crude shocks"
Monday, April 27, 2009
PetroChina Co Ltd, the world’s second-most valuable oil and gas producer after Exxon Mobil, posted a 36.2 percent drop in first-quarter earnings, its worst result in two years, as a steep dip in oil prices battered margins. For full story, click here
Continue reading "PetroChina reported fall in Q1 earnings"
Monday, April 13, 2009
As per the oil giant’s latest filing with the Securities and Exchange Commission, Rex W. Tillerson, chairman and CEO of Exxon Mobil, received $22.4 million in compensation in 2008. For full story, click here
Continue reading "Exxon Mobil CEO’s salary raised to $22.4M"
Monday, March 9, 2009
After falling from $147 to $35 per barrel towards the end of last year, crude oil has once again gained and touched $45 per barrel on speculation that China's stimulus plan may spur demand for the commodity near term. However, some experts are of the view that this is not just speculation but real purchases driving the prices up.
Continue reading "The relation between gold price and oil price"
Wednesday, March 4, 2009
Exxon Mobil Corp., the world’s largest oil company, has planned to tap its $31.4 billion mountain of cash to purchase stakes in offshore fields from state oil companies rather than mounting takeover bids for major rivals. Brian Youngberg, an analyst at Edward Jones & Co. in Des Peres, Missouri, said: The obvious opportunity is Brazil, [...]
Continue reading "Exxon Mobil using Cash reserves for Field Stakes"
Tuesday, February 24, 2009
Exxon Mobil closed crude unit for work at its 238,000 barrel per day refinery in Joliet, Illinois over the weekend for unplanned work. For more information, click here
Continue reading "Exxon closed Joliet crude unit over weekend"
Friday, February 20, 2009
The jump was all too clear. A surprise drop in U.S. oil inventories caused crude prices to jump 14 per cent on Thursday, in New York, powering a broad commodities rally that pushed copper and corn higher. The only noticeable drop was in gold, which closed lower for the first time in three days.
Continue reading "Demand Set To Recover Soon?"
Monday, February 9, 2009
The United States government statement that U.S. employers had slashed over a half million jobs in January, the highest yet in 35 years, lead to crude oil prices dropping just below $41 a barrel, way below the high of $147 a barrel last summer. There is a link between layoffs and the demand on oil, say analysts, as those laid off see no need for the daily commute, and buy less of petroleum products like toys and raincoats.
Continue reading "Oil Price Drops on Job Losses"
Monday, February 2, 2009
Exxon Mobil Corp plans to shut the 120,000 barrel per day gasoline-producing fluidic catalytic cracker No. 3 at its Baton Rouge, Louisiana, refinery for a four-week overhaul from early February into early March. For full story, click here
Continue reading "Exxon plans Baton Rouge FCC overhaul"
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Tuesday, May 25, 2010