Home

oil

Exxon strikes oil deal with Russia

Wed, 08/31/2011 - 15:50 by Anter Prakash Singh

Exxon Mobil and Russian oil firm Rosneft and have agreed to start joint operation on the Arctic Sea shelf and in the deep waters of the Black Sea in Russia.

Crude falls amid US debt default concerns

Sun, 07/31/2011 - 16:30 by Anonymous

Oil prices fell below $97 a barrel Friday as investors were left with no choice but to consider worst-case scenarios given that there was no unanimity amongst U.S. lawmakers to lift the government debt limit.

4-Star Stocks Poised to Pop: Diamond Offshore

Thu, 12/23/2010 - 07:06 by Brian D. Pacampara

 

Based on the aggregated intelligence of 170,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, contract driller Diamond Offshore Drilling(NYSE: DO) has earned a respected four-star ranking.




U.S. Government to Sue BP

Sat, 12/18/2010 - 09:47 by Alan Oscrof

 Just when BP  (NYSE: BP) looked like its recovery from the Deepwater Horizon disaster was starting to strengthen, here comes news that the U.S. government is suing.

 

Best Values in Oil and Gas

Fri, 12/17/2010 - 09:41 by Rex Moore

Study after study has shown that stocks with low price-to-earnings multiples significantly outperform high P/E stocks. Research from my favorite investing guru, NYU professor Aswath Damodaran, pegged the outperformance at anywhere from 9% to 12% per year, depending on the study period. That's big money we're talking about.

'Weeping' statue owner bans public

Sat, 11/06/2010 - 09:46 by Prince damin

Windsor, Ontario -- A Canadian woman whose Virgin Mary statue is purported to weep oil at night said she will no longer allow the public to visit her home.

Fadia Ibrahim of Windsor, Ontario, made the declaration after the city ordered her to remove the statue by Nov. 19 due to violations of city regulations, the Canadian Broadcasting Corp. reported Friday.

A city inspector visited the site after a neighbor complained about the traffic the statue was bringing to the neighborhood.

Visitors said the statue has been seen to smile during the day and weep oil at night.

Ibrahim said she does not plan to remove the statue.
"This is my God, and I am not changing my mind," she said.

Copyright 2010 United Press International, Inc. (UPI).

Dollar pulls higher, gold lower Tuesday

Wed, 10/27/2010 - 09:43 by Prince damin

New York -- The U.S. dollar snapped a downward trend Tuesday, putting pressure on the price of gold and oil, while the British pound made headway, climbing 1 percent.

Mixed corporate reports rattled equity markets, but the dollar index jumped 0.77 percent. The British pound made gains after the Office of National Statistics said the gross domestic product rose 0.8 in the third quarter.

Gold prices slumped on the Comex board at the New York Mercantile Exchange, dropping to $1,338.60 per troy ounce, down 0.02 percent. Crude oil prices closed at $82.52 per barrel from an intraday high of $82.88.

Dollar weakens after G20 summit

Tue, 10/26/2010 - 09:14 by Prince damin

New York -- The price of gold rebounded but then lost ground Monday, giving a boost to grains, oil, gold and sugar, which is approaching a 30-year high.

Wheat, corn, soybeans and oats rose on the Chicago Board of Trade as the drop in the dollar index accelerated toward the close of market, dropping 0.44 percent by late afternoon. Raw sugar futures in New York hit an intraday peak of 28.75 cents per pound as expectations of high crop yields in Brazil and India have fallen, The Wall Street Journal reported.

Why Oil Will Stick Around

Fri, 10/22/2010 - 11:05 by Amy Hsuan

 In the aftermath of the Deepwater Horizon incident, BP's (NYSE: BP) stocks have rallied, Halliburton (NYSE: HAL) has been named to the Dow Jones Sustainability Index, and many people are wondering if the world has slipped into a self-induced state of amnesia. 

Study: Microbes helping in gulf spill

Fri, 10/22/2010 - 09:50 by Prince damin

Cambridge, Mass. -- Microbes in the Gulf of Mexico may be consuming more of the gases spewed from the Deepwater Horizon oil spill than previously thought, researchers say.

Research carried out before the oil rig exploded and gushed more than 200 million gallons of crude into the gulf measured the anaerobic oxidation of methane, a major component of the spill, by microbes living in brine pools on the sea floor, ScienceDaily.com reported Thursday.

"Because of the ample oil and gas reserves under the Gulf of Mexico, slow seepage is a natural part of the ecosystem," Peter R. Girguis, a professor of biology at Harvard University, says.

Oil CEO in Russia guilty, prosecutors say

Fri, 10/15/2010 - 05:54 by Prince damin

Moscow -- Prosecutors in Russia said former Yukos Chief Executive Officer Mikhail Khodorkovsky and his business partner were guilty as charged.

Khodorkovsky and Platon Lebedev have been charged with stealing $9.6 billion from the oil company between 1999 and 2003, RIA Novosti reported Thursday. In addition, prosecutors say the pair stole 350 million tons of oil.

They are each serving eight-year sentences for tax evasion and fraud. The Moscow News said Thursday the two are nearing the end of their sentences and that prosecutors are now asking for lighter terms for the thefts than originally sought.

"We will ask the punishment for Khodorkovsky and Lebedev to be considered with the easing of the law," the prosecutor said.

Is Oil Heading to $150 a Barrel?

Thu, 09/16/2010 - 12:47 by Harvey Jones

Some people still maintain that it was oil at $147 a barrel that sparked the credit crunch. When U.S. motorists saw how much they were paying for a gallon of gasoline, they stopped spending, the argument goes. The rest is history.