Oil companies like to boast that their record-breaking profits are largely invested in infrastructure, exploration for new sources of "Texas tea," and in exploring "green alternatives." But, according to an AP story, the bulk of oil companies' earnings have gone not into exploration, but to stock buybacks...
This Brazilian state-owned giant is the fastest growing oil company in the world. By owning some shares of Petrobras PBR, you can hedge your bets against rising prices at the pump.
Chinese state oil company Sinopec, U.S. oil giant ExxonMobil and state oil company Saudi Aramco have secured about $4 billion in financing for the companies' planned joint expansion of the Fujian Refining & Petrochemical Co. refinery in Quanzhou.Chinese state oil company Sinopec, U.S. oil giant ExxonMobil and state oil company...
Austrian oil company OMV recently informed the European Commission that it intends to pursue a merger with Hungarian oil company MOL. Austrian oil company OMV recently informed the European Commission that it intends to pursue a merger with Hungarian oil company MOL.
Oil Reaches Record High: Who's to Blame?Oil company profitOil companies made lousy profits throughout the 1980s and 1990s, and had to conslidate to keep investors happy. They spend billions of dollars on exploration, with no guarantees the investments will pay off. When GE does this or Dell or Microsoft in...
Faced with the prospect of increased fuel consumption as people attempt to stay warm this winter, OPEC agreed to raise production by 500,000 barrels a day today. The commodity markets reacted with a great big shrug -- the price of crude for October delivery was up $.74 to $78.23 a...
Brazil's state oil company Petrobras and Venezuelan state oil company PDVSA finally made it official last week that they are jointly building a refinery, Abreu e Lima, in Brazil's Pernambuco state. Brazil's state oil company Petrobras and Venezuelan state oil company PDVSA finally made it official last week that they...
Brazilian state oil company Petrobras and Norwegian oil company Statoil announced recently they have signed a long-term biofuels, exploration and production strategic collaboration agreement.Brazilian state oil company Petrobras and Norwegian oil company Statoil announced recently they have signed a long-term biofuels, exploration and production strategic collaboration agreement.
An EU ruling striking down a German law that prevented the takeover of German automaker Volkswagen VW could enable OMV to takeover Hungarian oil company MOL, the Austrian oil company claims.An EU ruling striking down a German law that prevented the takeover of German automaker Volkswagen VW could enable OMV...
Brazilian state oil company Petrobras and Norwegian oil company Statoil announced last week they have signed a long-term biofuels, exploration and production strategic collaboration agreement. Brazilian state oil company Petrobras and Norwegian oil company Statoil announced last week they have signed a long-term biofuels, exploration and production strategic collaboration agreement.
Congress won't slap oil companies with a windfall profits tax. Oil giants ExxonMobil and Royal Dutch Shell together made $19 billion in the third quarter, prompting some Democrats to call for a 50% levy on oil company profits whenever crude oil price Congress won't slap oil...
Byline: Mike Clowes Members of Congress just love to pander to the public, and they are at it again over high gasoline prices. And when they pander, they inevitably come up with dumb ideas. ...
According to anba: Brazilian oil company Petrobras and the National Oil Company NOC of Libya, which belongs to the government of the Arab country, are negotiating cooperation. According to the ambassador of Brazil to Tripoli, Luciano Os?rio Roza, t According to anba: Brazilian oil company Petrobras...
Brazilian state oil company Petrobras announced recently it has finalized the transfer of its Petrobras Bolivia Refinacion subsidiary to Bolivian state oil company YPFB.Brazilian state oil company Petrobras announced recently it has finalized the transfer of its Petrobras Bolivia Refinacion subsidiary to Bolivian state oil company YPFB.
Mar. 15--Essar Shipping Ltd has acquired crude oil carrier built in 2005 at Hitachi Heavy Industries, Japan., the company informed the Bombay Stock Exchange on Tuesday. Mar. 15--Essar Shipping Ltd has acquired crude oil carrier built in 2005 at Hitachi Heavy Industries, Japan., the...
According to anba: Brazilian oil company Petrobras was considered the most sustainable oil company in the world by Spanish consultancy Management & Excellence (M&E). The company was in the first place in the ranking, with 92.25%. Last year, t According to anba: Brazilian oil company Petrobras...
SANTA MONICA, Calif., July 1 /U.S. Newswire/ -- Oil companies will make at least $82 million in excess profits from California motorists during the four and a half day holiday weekend, according to the nonprofit, nonpartisan Foundation for Taxpayer and CoSANTA MONICA, Calif., July 1 /U.S. Newswire/ -- Oil companies...
Chinas third-largest oil producer, state-owned CNOOC Ltd. made an $18.5 billion offer June 23 for California-based oil firm Unocal Corp., marking the country's most ambitious attempt to acquire a Western company, the Associated Press reported.Chinas third-largest oil producer, state-owned CNOOC Ltd. made an $18.5 billion offer June 23 for California-based...
PETROBRAS, Brazil's state-run oil company, got the green light from Nigerian National Petroleum Corporation, Nigeria's state-owned oil company, to develop the Apko oilfield in the African country. Petrobras will work in partnership with Total, a French oil company, which operates the basin. Apko is Petrobras' second oil discovery in Nigeria.
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