Cnooc Ltd 2012 Profits Decline on Slowing Output, Capital Spending
Oil – Bloomberg reported that Cnooc Ltd. has reported a lower profit for 2012 with a net income of $10.3 billion as the Chinese company focused on reviving output growth.
Articles Tagged "gulf of mexico"
BP To Pay $4.5 Billion in Penalties
Oil – BP Plc will pay $4.5 billion in penalties and plead guilty to felony misconduct in the Deepwater Horizon catastrophe that caused the country's worst oil spill in history, the company said on Thursday.
BP Oil Spill Trial Delayed by Over a Month
Oil – Bloomberg reported that the trial regarding BP plc's (LSE:BP,NYSE:BP) liability for the 2010 Gulf of Mexico oil spill has been moved from January 14 to February 25.
BP Keen on $7.8-billion Oil Spill Settlement
Oil – Bloomberg reported that BP plc (LSE:BP) is pushing a federal judge to okay a $7.8-billion settlement for owners of homes and businesses who sued the company for the economic damage they incurred after the 2010 oil spill in the Gulf of Mexico.
Oil’s Fall Limited by Resumption of Gulf of Mexico Operations
Oil – Reuters reported that a decline in construction spending in July and weak August US manufacturing data led to a drop in oil prices. However, the decrease in price was checked somewhat by the restart of some Gulf of Mexico operations following Hurricane Isaac.
BP, Shell Employees Return to Gulf of Mexico Oil Platforms as Hurricane Isaac Moves On
Oil – Reuters reported that Hurricane Isaac, the first hurricane to touch down on the United States this year, has moved on, allowing major offshore oil drillers to bring staff back to oil platforms in the Gulf of Mexico.
Oil Futures Fall 1.2 Percent as Hurricane Isaac Lands
Oil – Reuters reported that Hurricane Isaac landed late Tuesday and has caused flooding in Southern Louisiana, though as yet has not damaged refineries or offshore oil and gas platforms. 93 percent of offshore Gulf oil is still out of commission.
Oil Futures Brought Up by Hurricane Isaac, IEA Strategic Reserves Update
Oil – The Wall Street Journal reported that oil futures gained following the announcement that the International Energy Agency is unlikely to release strategic oil reserves and news that Hurricane Isaac has shut down most oil output in the Gulf of Mexico.
Gas Down on Tropical Storm Isaac Outlook
Gas – Bloomberg reported that speculation that Tropical Storm Isaac will not have much of an impact on gas production in the Gulf of Mexico caused natural gas futures to drop to the lowest level seen in two months.
Tropical Storm Isaac Draws Canadian Spot Gas Up 7 Cents
Gas – Reuters reported that worries that Tropical Storm Isaac might cause problems for Gulf of Mexico production led to an increase in Canadian spot natural gas.
