| Daily News and Commentary From OilSlick.com |
|
| BP Getting Close and Getting Shafted |
| 9/2/2010 11:11:20 PM: BP has removed the capping stack from the Horizon blow out preventer and is preparing to swap the failed BOP with a new BOP. Continue reading |
| BHP Billiton May Be Interested In Anadarko |
| 9/2/2010 5:51:54 PM: BHP Billiton, the world's largest mining company, may be interested in acquiring Anadarko Petroleum, one of the largest U.S. independent oil and gas producers. Anadarko shares gained almost 3% after the Australian newspaper broke the story of BHP's interested in the Texas-based energy producer. Continue reading |
| Mariner Gulf Platform Explodes |
| 9/2/2010 5:11:28 PM: An oil platform in the Gulf of Mexico owned by Mariner Energy exploded today, causing the evacuation of all of the rig's workers, but the U.S. Coast Guard has said there are no signs of an oil leak. The site of the largest oil spill in U.S. history, caused by the April explosion of the Deepwater Horizon rig, is east of the Mariner rig. Continue reading |
| BP Asset Sales May Total $27.2B |
| 9/2/2010 4:51:41 PM: BP, Europe's second-largest oil company by market value, may raise $27.2 billion through planned asset sales to raise cash to pay for expenses tied to the Gulf of Mexico oil spill. That sum is in the middle of the $25 billion to $30 billion range BP said it would raise when it announced the asset sales in July. Continue reading |
| Petrobras Will Pay $42.5B For Government Oil |
| 9/2/2010 3:21:31 PM: Petrobras, Brazil's state-run oil company, will pay the country's government $42.5 billion, or $8.51 per barrel, for 5 billion barrels of oil. The announcement came after two weeks of negotiations between the company and the government and the price is almost exactly in the middle of the $5-$12 per barrel that investors had expected Petrobras to pay. Continue reading |
| PEMEX Plans Spending Spree |
| 9/1/2010 9:21:14 PM: Petroleos Mexicanos, Mexico's state owned energy company, plans to invest $269 billion over the next eight years to increase production. Considering their production is dropping like a rock that is probably a good idea. Continue reading |
| Rowan Soars After Winning Contracts |
| 9/1/2010 5:54:23 PM: Rowan Cos., the drilling services provider, surged $2.31, or almost 9%, to $28.02 after winning contracts with Saudi Aramco that will put two of Rowan's rigs previously working in the Gulf of Mexico to work in the Middle East. The contracts will last three years and commence in the second quarter of 2011. Continue reading |
| Petrobras, Brazilian Government Agree On Oil Price |
| 9/1/2010 5:44:32 PM: Petrobras, Brazil's state-run oil producer, and Brazil's government, have reportedly agreed on a price for 5 billion barrels of oil the company will acquire from the government in exchange for new shares of the oil giant. The price is expected to be in the middle of the $5-$12 range. Continue reading |
| BP May Resume Macondo Work On Thursday |
| 9/1/2010 5:34:27 PM: BP may resume its efforts to permanently plug the Macondo well in the Gulf of Mexico as early as tomorrow. Work on the well has been delayed for three days to rough seas caused by tropical storms. Depending on the weather, BP may be able to removed the rig's blowout preventer in within 36 hours, according to National Incident Commander Thad Allen. Continue reading |
| Transocean Soars On Takeover Talk |
| 9/1/2010 4:36:12 PM: Transocean, the largest provider of offshore drilling services, surged $3.43, or 6.74%, to $54.33 today after Norwegian billionaire John Fredriksen said his Seadrill Ltd. may make an offer for Transocean. Options traders purchased more than 1,000 Transocean September 55 calls and 1,500 January 60 calls on the news. Continue reading |
| BP Sells Malaysian Assets For $363M |
| 9/1/2010 4:11:56 AM: BP, Europe's largest oil company by production volume, said it sold its Malaysian chemical business to to Petroliam Nasional Bhd. for $363 million as part of the oil major's plan to divest assets to raise for costs associated with the Gulf of Mexico oil spill. Continue reading |
| Big Pay=Big Problems For Big Oil Execs |
| 8/31/2010 7:06:55 PM: Americans love money, there is no getting around that. Those that have it usually want more and those that do not have a lot aspire to have more of it, but with that said, most Americans have standards when it comes to what can be perceived as excessive pay. And when it comes to excessive pay, no groups are more vilified than professional athletes and CEOs of large companies. Continue reading |
| Occidental CEO To Retire Next Year |
| 8/31/2010 4:34:45 PM: Ray Irani, chairman and chief executive officer of Occidental Petroleum, the fourth-largest U.S. oil company, is expected to set a retirement date for sometime in 2011 as investors up their criticism of Irani's compensation and Occidental's lack of an adequate succession plan. Continue reading |
| Brazil May Get Access To Nigerian Oil |
| 8/31/2010 4:07:00 PM: Brazil may get access to Nigerian oil and natural gas projects if the South American country opts to participate in two Nigerian hydropower projects. Nigeria is Africa's largest nation by population and the continent's top oil producer. Continue reading |
| Halliburton Wins Contract To Redevelop Iraq Field |
| 8/31/2010 1:30:39 PM: Halliburton, the second-largest oil services firm in the world, won a contract from Italy's Eni SpA (E) to redevelop Iraq's Zubair oil field in the southern part of the country. Financial terms of the the deal were not disclosed. Continue reading |
| Lukoil Won't Buy All Of Conoco's Stake |
| 8/31/2010 11:15:58 AM: OAO Lukoil Holdings, Russia's largest private oil producer, said it will not purchase all of ConocoPhillips' 20% stake in the company. ConocPhillips, the third-largest U.S. oil producer, said earlier this year it would sell its Lukoil shares as part of a plan to reduce its debt. Continue reading |
| BP to Blame Engineers for Blowout |
| 8/31/2010 1:39:59 AM: In news leaked on Monday BP is planning on blaming its own engineers for bad decisions that led to the explosion on the Horizon. In addition to blaming their own people BP investigators are also blaming Transocean for not having the blow out preventer recertified in recent years. Continue reading |
| Chevron To Look For Oil Off Liberia |
| 8/30/2010 8:26:59 PM: Chevron, the second-largest U.S. oil company, said that it has reached an agreement to explore for oil off the coast of the West African nation of Liberia. Like many of Africa's oil-producing countries, Liberia is trying to tap into more of its oil resources after years of civil war. Continue reading |
| Oil To Rebound To Over $100bbl By 2012, Bank Says |
| 8/30/2010 7:18:07 PM: Sweden's Nordea Bank, the largest bank in the Nordic region, said oil prices will exceed $100 barrel in 2012 as the global economy rebounds in 2011, spurring demand for crude. Nordea said it expects crude will trade for an average of $79 a barrel in this year?s fourth quarter, $85.75 in 2011 and $102.50 in 2012. Continue reading |
| Energy Group May Meet To Discuss Petrobras Swap |
| 8/30/2010 7:00:48 PM: Brazil's National Energy Policy Council could meet in the coming days to discuss the terms of the proposed oil-for-shares swap between Petrobras, the country's state-controlled oil producer, and the government. The council may meet as early as Wednesday in the hopes of quickening the process of pricing the oil Petrobras wants to acquire from the government. Continue reading |
Home
Peak Oil Facts
