Thursday was the day which witnessed many numbers soaring record high beyond the expectations. Besides Dow Jones Industrial Average, Wall Street also set the record high.
With deferential regards for their President, Alaska’s native villages have unanimously decided to show their thumbs down to Venezuelan President Hugo Chavez’s annual offer to provide discount oil
Oil prices took a jump on Monday in Asian market after the news came that the Organization of Petroleum Exporting Countries (OPEC) is going to remove its crude from oversupplied world markets by 1 million barrels a day.
The Organization of Petroleum Exporting Countries (OPEC) has decided to cut oil production by about 1 million barrels per day in order to fight the dwindling oil prices.
The recent drop in crude oil prices is not going too well with some of the countries. Venezuela, the fifth largest oil producer on Friday decided to cut down the production by about 50,000 barrels a day. Nigeria is expected to tread the same path.
BP Plc, Europe's second-largest oil company, announced on Monday, that the restart of its 250,000 barrel-a-day Thunder Horse platform in the Gulf of Mexico has been delayed by 18 months and will not s
Dynegy Inc. put another brick in the wall in its quest to reincarnate, after many analysts wrote the obituaries of the firm about four years ago. The firm announced that it would acquire LS power plant in a deal valued at $2.2 billion in a bid to stage a comeback.
With oil prices tumbling to five-month lows, the 11-nation Organization of Petroleum Exporting Countries (OPEC) is likely to hold its oil production steady for now. Key members of the 11-nation alliance said they see no reason to tighten or loosen their taps after meeting in Vienna on Monday.
Chevron Corp. on Tuesday announced that it has successfully completed a production test at the Jack 2 well, located at Walker Ridge Block 758 in the U.S. Gulf of Mexico.
