By HASSAN HAFIDH
A consortium led by Exxon Mobil Corp. and Royal Dutch Shell PLC accepted contract amendments made by the Iraqi government to develop an oil field in southern Iraq, a senior Ministry of Oil official said.
“They have accepted the changes, and we are finalizing the deal with them on Jan. 25,” Abdul Mahdy al-Ameedi, [...]
TOKYO (Dow Jones)–Tokyo Electric Power Co. (9501.TO) and Tokyo Gas Co. (9531.TO) separately said Monday that they have extended purchases of liquefied natural gas from the Kenai LNG plant in the U.S. state of Alaska by two years to March 31, 2011.
Japan’s largest power utility by capacity, also known as Tepco, and Japan’s largest [...]
ANCHORAGE, Alaska–(BUSINESS WIRE)–ExxonMobil Production Company announced today that it has completed drilling and casing the surface section on the second well at Point Thomson. The well reached its target surface-section depth of 4,875 feet. Both wells are planned to be completed to their final depths by year end 2010. Additionally, construction work is progressing on [...]
ConocoPhillips (NYSE: COP - News), JSC National Company KazMunayGas (KMG) and Mubadala Development Company PJSC (Mubadala) today announced that they have signed project agreements allowing the joint exploration and development of the Nursultan Block (N Block) located in offshore Kazakhstan.
KMG as majority owner will hold a 51 percent interest in the subsoil use contract and [...]
DOW JONES NEWSWIRES
The following table lists unplanned and planned production outages at U.S. refineries as reported by Dow Jones Newswires. The information is compiled from both official and unofficial refining sources and doesn’t purport to be a comprehensive list.
ExxonMobil (XOM) shut a CO Boiler at key gasoline-making FCCU No. 3 at its Baytown, [...]
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 [...]
By Sheila McNulty
The plan by ConocoPhillips, the US’s third largest oil company, to lay off 4 per cent of its global workforce and scale back capital spending this year to $12.5bn, from $15.3bn in 2008, underlines the slowdown taking hold of the oil industry.
ConocoPhillips was the first of the US majors to announce lay-offs, totalling [...]
By Jose Orozco and Steven Bodzin
Jan. 16 (Bloomberg) – Oil prices need to rise to about $70 a barrel to sustain investments in fields and avoid shortages, Venezuelan Energy and Oil Minister Rafael Ramirez said.
Venezuela, the biggest oil exporter in the Americas, is discussing prices with other members of the Organization of Petroleum Exporting Countries, [...]
By Braden Reddall
SAN FRANCISCO (Reuters) - Chevron Corp (CVX.N) expects its fourth-quarter earnings to be significantly lower than the previous quarter due to the impact of lower energy prices on its exploration and production business.
The second-largest U.S. oil and gas company also said on Thursday its U.S. oil-equivalent production in October and November was 608,000 [...]
By Joe Carroll
Nov. 10 (Bloomberg) — Petroleo Brasileiro SA, the investor darling among the world’s largest oil companies in the first half of the year, has become the biggest loser.
Petrobras, as Brazil’s state-controlled oil producer is known, is the worst performer among the top 10 publicly traded oil companies since May. The stock dropped 53 [...]
