The latest reports confirm that Japan hasn't reached any accord with the U.S. on crude import cuts from Iran. Japan’s move to reduce oil import from the Islamic Republic is directed towards gaining immunity from the latest U.S. sanctions.
Tension between Iran and western countries has intensified after the former stopped crude oil supply to France and Britain against the tightened EU sanctions.
Oil giant BP has asked Halliburton to pay for the damages that occurred from oil spill in the Gulf of Mexico.
Thanks to the rising crude prices and sale of a refinery, Chevron Corporation (NYSE:CVX) third quarter profit more than doubled this year, even as company’s production failed to meet expectations.
Anadarko Petroleum Corporation (NYSE: APC) is set to pay BP PLC (NYSE: BP) $4 billion under an agreement struck between the two to settle all claims among them relating to last year's Gulf of Mexico oil spill.
Starting with about $1 billion in venture capital and a $535-million federal government loan guarantee, the high-profile solar-panel maker Solyndra Inc. finally shut doors Wednesday.
Royal Dutch Shell PLC has announced that it has managed to stop the leak from its faulty pipeline at the Gannet Alpha platform in worst North Sea oil spill in more than a decade.