| Daily Energy News From OilSlick.com |
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| BP Spent $3.6M On Google Ads In June |
| 9/7/2010 1:18:01 PM: In an effort to perhaps do some damage control and heal its battered public image, BP spent $3.59 on Google advertisements in the month of June, making the British oil giant the sixth-largest ad spender on the largest U.S. search engine. BP ranked just behind online auction site eBay (EBAY), which spent $4.25 million on Google ads in June. Continue reading |
| Cnooc Signs Revised Agreements With BP, Chevron |
| 9/7/2010 12:33:30 PM: Cnooc, China's largest offshore oil driller, has signed revised production-sharing agreements with BP and Chevron, the second-largest European and U.S. oil companies, respectively. The amended agreements comes as part of Devon Energy's (DVN) decision to part with its South China Sea assets. Continue reading |
| Linn Energy To Buy Permian Basin Assets For $352.2M |
| 9/7/2010 11:55:30 AM: Linn Energy LLC, the largest publicly traded U.S. oil and gas partnership, will pay $352.2 million to acquire assets in the Permian Basin in west Texas. The properties will be acquired in three transactions, according to a statement issued by Linn. Linn said the assets produce about 3,300 barrels of oil equivalent per day. Continue reading |
| Enterprise Will Buy General Partner For $8B |
| 9/7/2010 11:40:39 AM: Enterprise Products Partners LP, the largest publicly traded master limited partnership, will acquire its general partner, Enterprise GP for $8 billion. Unitholders of Enterprise GP (EPE) will receive 1.5 units of Enterprise Products for each Enterprise GP unit they own. Continue reading |
| Vale Fertilizer Company Has $12B For Acquisitions |
| 9/6/2010 9:45:44 PM: Brazil's Vale, the largest iron ore producer in the world, is looking to expand its footprint in the fertilizer business by forming a new company, Vale Fertilizantes SA, which has set aside $12 billion for acquisitions and new projects. That sum is expected to be spent over the next three years. Continue reading |
| Shell Won't Bid For Woodside |
| 9/6/2010 8:59:04 PM: Royal Dutch Shell, Europe's largest oil company by market value, will not make an all-out acquisition bid for Australia's Woodside Petroleum, the country's second-largest oil and natural gas producer. Shell already owns 34% of Woodside, but Shell Australia chairman Ann Pickard said her company was not preparing a bid for Woodside. Continue reading |
| Yanzhou Coal To Pay $682M For Stake In Mongolian Firm |
| 9/6/2010 8:40:08 PM: Yanzhou Coal, China's fourth-largest coal producer, will pay $682.1 million to acquire 51% of Inner Mongolia Haosheng Coal Mining in an effort to bolster reserves as Chinese coal demand continues to escalate. Yanzhou said it is looking to make ''significant'' increases to its annual output over the next five years. Continue reading |
| BP Boosts Asset Sales Target To $40B |
| 9/5/2010 5:59:54 PM: BP, Europe's largest oil company by production volume, has raised its target for asset sales to $40 billion due to the rising costs of the Gulf of Mexico oil spill. Last week, BP said its spill costs have jumped to $8 billion. In July, the company said it would sell $25 billion to $30 billion of assets over the next 18 months. Continue reading |
| BP Spill Costs Hit $8 Billion |
| 9/3/2010 7:59:36 PM: BP, Europe's second-larges oil company by market value, said its costs related to the Gulf of Mexico oil spill, the worst oil spill in U.S. history, have reached $8 billion. No oil has flowed from the Macondo well since July 15 and BP says no oil has been recovered since July 21. Continue reading |
| Petrobras Could Raise Up To $75B In Share Sale |
| 9/3/2010 7:02:43 PM: Petrobras, Brazil's state-controlled oil giant, could raise up to $75 billion in what will be the world's largest secondary offering, the company said in a regulatory filing. The announcement comes a day after the company agreed to pay Brazil's $8.51 per barrel for 5 billion barrels of oil to be acquired through an oil-for-shares swap. Continue reading |
| EOG Resources To Sell Gulf Assets |
| 9/3/2010 6:33:19 PM: EOG Resources, the independent oil and gas producer that is a former unit of Enron, has hired BMO Capital Markets to help it sell natural gas assets in the Gulf of Mexico as part of the company's plan to focus more on oil output and production. The assets include 22 shallow water exploration blocks. 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 |
| 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 |
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