By Brian Ellsworth - Analysis
CARACAS (Reuters) - Venezuela faces a growing risk of falling crude production in the coming months as oil service companies show signs they may halt key activities over a huge buildup in unpaid bills sparked by tumbling crude prices.
A major oil sector slowdown would devastate the OPEC nation’s economy and force [...]
Chevron Corp. rode 2008’s historic spike in oil prices to a record $23.93 billion annual profit, despite the petroleum market’s collapse in the second half of the year.
Chevron’s profit report, released Friday, graphically illustrates just how high oil prices rose last summer and how far they fell as the economic crisis cut the world’s thirst [...]
Exxon Mobil finished a roller-coaster year in the oil markets with an all-time record $45.2 billion in profits, despite fourth-quarter earnings that were a third lower than the same period a year before.
With oil prices slumping, Exxon Mobil suffered a sharp drop in profits from producing oil and gas but higher profit margins at refueling [...]
Weak reports on new home sales and rising job losses continue to weigh on crude prices
NEW YORK (CNNMoney.com) – Oil prices sank Thursday as a sour housing market signaled that demand would continue to remain low as the economic crisis rolls on.
U.S. crude for March delivery ended the day down 72 cents to settle at [...]
OAK HARBOR, Ohio, Jan. 28 /PRNewswire-FirstCall/ — Representatives from the Japan Nuclear Technology Institute (JANTI) — one of the world’s leading nuclear energy organizations — will tour Davis-Besse Nuclear Power Station on January 30, 2009. Davis-Besse is operated by FirstEnergy Nuclear Operating Company, a subsidiary of Akron, Ohio-based FirstEnergy Corp. (NYSE: FE).
In addition to the [...]
Stuart Butler
ANALYSIS/OPINION:
Never mind lower gasoline prices. Worries about energy security and the environment continue to boost pressure for alternative energy sources. Russian Prime Minister Vladimir Putin´s temporary halting of natural gas to Europe this winter in a payment dispute underscored once again how vulnerable the West is to energy blackmail. And even though the [...]
CHARLESTON, W.Va. — Coal producer Alliance Resource Partners’ fourth-quarter income fell 36 percent on the loss of a tax credit and expenses that outpaced revenue growth.
Alliance said Wednesday it earned $25.2 million, or 32 cents per partnership unit, in the quarter. The Tulsa, Okla.-based company earned $39.9 million, or 76 cents per unit, in [...]
The University of Louisville, propelled by a record $20 million financial pledge, will play a key role in Kentucky’s push to develop environmentally safe renewable energy, Gov. Steve Beshear announced.
Beshear said Monday the university has agreed to operate the soon-to-be-created Conn Center for Renewable Energy Research and Environmental Stewardship, a facility intended to help make [...]
By Tom Doggett
WASHINGTON (Reuters) - The Senate Finance Committee approved late on Tuesday some $31 billion in tax credits and financial incentives to boost alternative energy supplies and promote energy-savings steps as part of the Obama administration’s much bigger U.S. economic recovery plan.
The tax breaks would, in part, help wind power and solar energy companies [...]
SYDNEY (Reuters) - Oil firms began restarting operations off western Australia on Wednesday after a cyclone passed through the region and forced the shutdown of production platforms accounting for nearly half of Australia’s oil output.
Separately, miner Rio Tinto Ltd/Plc (RIO.AX)(RIO.L) said it had restarted iron ore loading operations in western Australia’s Port Dampier after a [...]
