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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: oil companies

oil companies stories: 30 news summaries

1 - 20 of 30 Stories | 1 2 Next >>

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Oil Giant Tries to Settle Biggest- Ever UK Lawsuit

Trafigura offers deal
to Africans sickened
by toxic sludge

Sep 17, 09 8:49 AM CDT
(Newser) - A British multinational has offered a multimillion-dollar payout to settle a case involving toxic pollution in the Ivory Coast, the Independent reports. A contractor working for oil trading firm Trafigura dumped hundreds of tons of toxic sludge around Abidjan in 2006, sickening tens of thousands. Some were permanently disfigured, and... More »

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Africa • lawsuit • toxic waste • Britain • oil companies • Ivory Coast • Trafigura • Abidjan

In Televised Auction of Oil Contracts, Iraq Plays Hardball

Oil ministry plays hardball on prices

Jun 30, 09 7:34 AM CDT
(Newser) - The Iraqi oil industry has been nationalized since 1972, but today the country is awarding the first contracts in decades to private petroleum companies—live on television. So far a joint bid by British Petroleum and a Chinese firm has won the first contract, for a 17 billion-barrel field in... More »

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Iraq • oil • Iraq oil • ExxonMobil • auction • oil companies • British Petroleum

 Big Oil Drooling 
 Over Iraq Contracts 

Firms booted out in '72 eye nation's vast untapped reserves

Jun 24, 09 1:48 AM CDT
(Newser) - Iraq is preparing to welcome back the foreign oil companies it ejected over 30 years ago, and the firms are giddy with anticipation, the Wall Street Journal reports. Contracts to revive production at neglected oil fields go up for auction next week, and competition is expected to be fierce. Oil... More »

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Iraq • oil • Iraq oil • Hussain al Shahristani • oil companies

Amazon Indians Win Repeal of Land Grab Laws

Decision hailed as major victory for indigenous people

Jun 19, 09 5:05 AM CDT
(Newser) - Peru's Congress has revoked two laws that led to bloody clashes between police and indigenous protesters, CNN reports. Lawmakers voted overwhelmingly in favor of ditching the laws that opened up the country's Amazon region to mining, logging, and oil companies. Dozens of people died earlier this month when police moved... More »

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Latin America • mining • Peru • logging • oil companies • Amazon rainforest • indigenous peoples • land rights

(Newser) - Big oil execs, analysts, and government sources say a century-old American tradition is waning: after years of increasing oil consumption, US guzzling has peaked, they believe. Last year, demand plunged 7.1% for gas, diesel, and jet fuel—the biggest drop since 1950, when dependable records began. And major changes... More »

MORE ABOUT:
oil • biofuel • oil companies • gas stations • oil industry • gas consumption • oil demand

Iraq PM Shrugs Off US as Sarko Cozies Up

In his first visit to Baghdad, French prez seeks oil, influence

Feb 11, 09 8:23 AM CST
(Newser) - French prez Nicolas Sarkozy, whose predecessor led international opposition to the Iraq war, paid a surprise visit to Baghdad yesterday in an attempt to raise his country's profile in the region. Sarkozy met with PM Nouri al-Maliki, who used a joint news conference to slap at recent US pressure to... More »

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Iraq • diplomacy • Nouri al-Maliki • Nicolas Sarkozy • France • oil companies • Total SA

Chavez Quietly Courts Western Oil Firms

Falling oil prices force Venezuelan prez to swallow his pride

Jan 15, 09 1:50 AM CST
(Newser) - The falling price of oil is forcing Venezuelan President Hugo Chavez to quietly make overtures to the Western oil companies he used to harass and shun, reports the New York Times. Chavez needs the foreign expertise and purchasing power to help boost Venezuela's declining production and income. The lure of... More »

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oil • Venezuela • Hugo Chávez • oil company nationalization • Petroleos de Venezuela SA • oil companies

 Fat Cat Exxon Primed to Deal 

Behemoth stood still when oil hit record highs, now has $40B for buying spree

Jan 12, 09 10:22 AM CST
(Newser) - Flush with cash after resisting costly acquisitions while oil prices hit record highs, Exxon Mobil could be ready for a shopping spree that could alter the face of the world’s energy supply, reports the Wall Street Journal. The company has nearly $37 billion in reserves and could target another... More »

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Brazil • mergers and acquisitions • Royal Dutch Shell • oil companies • Rex Tillerson • Exxon Mobil • Big Oil • oil prices

ANALYSIS

Not Yet Sworn In, and Already Flip-Flopping?

Blogger: Obama's backing off promise to tax oil companies

Dec 4, 08 8:26 AM CST
(Newser) - Barack Obama vowed on the campaign trail to slap oil companies with a windfall tax, but, blogs Kevin Drum at Mother Jones, it might've all just been old-fashioned populist bluster that's led to Obama’s first breach of a campaign promise. The American Small Business League has noted, and decried,... More »

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Barack Obama • oil companies • oil tax • oil prices

$100 Oil Will Return Soon Enough: Study

Price will rebound with economy, likely to hit $200 a barrel in 2030

Nov 6, 08 10:53 AM CST
(Newser) - If today’s price of $60 per barrel of oil seems too good to be true, that’s because it is. Oil prices will rebound to $100 a barrel once the economy recovers, and climb toward $200 by 2030, the market’s most comprehensive review predicts. Output is declining at... More »

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oil • Saudi Arabia • oil price • predictions • oil supply • $100 a barrel oil • oil companies • Big Oil

 Exxon Mobil 
 Shatters Own  
 Record With 
 $14B Profit

Company earned $14.8B last quarter

Oct 30, 08 8:25 AM CDT
(AP) - Exxon Mobil breezed by its own record for the biggest quarterly profit for a US corporation, earning $14.83 billion in the third quarter. Bolstered by this summer's record crude prices, net income jumped nearly 58%, or $2.86 a share, for the world's largest publicly traded oil company. Exxon... More »

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stock market • Wall Street • earnings reports • profit growth • quarterly profits • oil companies • Exxon Mobil

PR Blitz Aside, Big Oil Drilled Consumers for Stockholders

As demand drops, companies shelve plans to explore—among moves that benefit shareholders, not consumers

Oct 28, 08 12:43 PM CDT
(Newser) - Despite public-relations campaigns designed to make consumers think otherwise, big oil companies remain firmly tied to doing what’s best for their stockholders and bottom line, the Los Angeles Times reports. Though demand has outstripped production, companies spend more on stock buybacks than supply-boosting exploration. But, one analyst notes, “... More »

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shareholders • gas prices • alternative fuels • Royal Dutch Shell • oil companies • Exxon Mobil • Big Oil

Big Oil Takes Big Hit in Stocks' Dive

Demand slows, but company coffers
plenty full ... for now

Oct 7, 08 2:57 PM CDT
(Newser) - Oil companies’ stocks are plummeting, but the majors are comfortable with long-term plans and bulging coffers, the Wall Street Journal reports. The global economy is pushing crude prices down, and analysts think measures are necessary to keep share prices up. But larger outfits like Exxon made investments based on lower... More »

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BP • credit crisis • stock price • oil companies • Exxon Mobil • oil prices • oil demand • financial crisis

 House Passes Drill Bill 

'Compromise' bill allowing limited new drilling passes without GOP backing

Sep 17, 08 2:18 AM CDT
(Newser) - An energy bill including a partial lifting of the ban on new offshore drilling has passed the House, reports the Washington Post. The vote split largely along party lines, with most Republicans rejecting the package for not going far enough. The measure would allow new drilling beginning at 50 miles... More »

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alternative energy • House of Representatives • energy bill • oil companies • offshore oil • energy policy

 Iraq Dumps 
 Western Oil Deals 

Plans scrubbed as talks drag on too long

Sep 11, 08 3:04 AM CDT
(Newser) - Iraq has scrubbed plans to award six coveted no-bid contracts to Western oil companies, the New York Times reports. Negotiations with the oil giants—including Exxon Mobil, Chevron, Shell, BP and others—dragged on for too long, said Iraq's foreign minister. The companies would have been unable to complete work... More »

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Iraq • oil • Iraq oil • Shell • Chevron • Hussain al Shahristani • oil companies • Exxon Mobil • China National Petroleum Corp.

Ex Halliburton Exec Pleads Guilty to
$180M Bribery

Cheney man 'won' $6B Nigerian contracts

Sep 4, 08 4:04 AM CDT
(Newser) - A fired Halliburton exec has pleaded guilty to bribing Nigerian government officials, the Wall Street Journal reports. Albert Stanley, CEO of KBR when it was a Halliburton subsidiary, faces up to 7 years in jail and a restitution payment of nearly $11 million. Stanley was appointed by Vice President Dick... More »

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Dick Cheney • Nigeria • bribery • bribe • Halliburton • KBR • oil companies

 Supplies Drop as Big Oil's Power Shrivels

State-owned firms don't churn it out like Shell

Aug 19, 08 2:55 AM CDT
(Newser) - A rapidly changing world order has left the giant oil companies all monied up with nowhere to drill, the New York Times reports. The Western oil giants' share of production has plummeted from over half in the 1970s to just 13% today. Production is falling as oil supplies remain in... More »

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OPEC • ExxonMobil • Royal Dutch Shell • oil supply • oil exploration • oil companies • peak oil

Opinion

Iraq Needs Its No-Bid
Oil Contracts

Deals aren't exploitative, argues energy adviser

Jul 26, 08 3:15 PM CDT
(Newser) - US lawmakers have been raging against no-bid deals struck by foreign oil companies in Iraq—but impeding them would be pure folly, energy consultant Raad Alkadiri argues in the Washington Post. Most of these companies have already advised Iraq on its oil fields for free; Baghdad only sought to... More »

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Iraq • energy • Congress • Iraq oil • oil companies • oil industry

Corn-Hungry Texas Calls for  Cuts in Biofuel Mandates

Ethanol future in balance as governor pleads for livestock corn

Jul 23, 08 2:32 AM CDT
(Newser) - The EPA is considering a proposal from the governor of Texas to slash the amount of ethanol that oil companies are required to blend into gasoline to meet quotas, the New York Times reports. Gov. Rick Perry is calling for the EPA to cut the ethanol mandate in half, from... More »

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ethanol • livestock • corn • biofuel • Environmental Protection Agency • gas prices • oil companies

 Gore
 Pounds
 Pols on
 Energy Plan 

Sees role as facilitator; says 'baby steps no longer responsible'

Jul 20, 08 4:13 PM CDT
(Newser) - Al Gore made his first appearance on Meet the Press since he sought the presidency 8 years ago, Politico reports, this time pushing his agenda as the nation's self-appointed energy czar. "My own best role is to try to bring about a sea change in public opinion" on environmental... More »

MORE ABOUT:
Al Gore • fossil fuel • green energy • renewable energy • Meet the Press • oil companies

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