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Oil & Gas

Exxon Facing Questions About Natural Gas Push

The Associated Press reports that Exxon Mobil Corp. rode higher oil prices to a $30 billion profit last year, but shareholders at its annual meeting Wednesday were more concerned about
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Chevron Seeks to Restart Its Richmond Refinery Project

Bloomberg reports that Chevron Corp. sought permission from Richmond, California, regulators yet again to upgrade equipment at its refinery there. A California court halted construction on new equipment at the
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BP Receives $1 Billion Settlement from Gulf Well Partner

According to the Associated Press, BP has struck a deal to receive around $1 billion from one of its minority partners in the blown-out Gulf of Mexico well, raising hopes
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Thirty People Hospitalized After Chlorine Gas Leak in Brazil

The Associated Press reports that chlorine gas leaked from a petrochemical plant has sent 30 people to the hospital in northeastern Brazil. Children and elderly are among those hospitalized with
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Republican Plan to Expand U.S. Offshore Oil Blocked in Senate

According to Bloomberg, a Republican proposal to expand offshore drilling was blocked in the Senate, one day after Democrats failed to advance legislation that would repeal $21 billion in tax
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Senate Blocks Bill Repealing $2 Billion in Oil Tax Breaks

According to the Associated Press, the Senate blocked a bill that would repeal about $2 billion a year in tax breaks for the five biggest oil companies, a Democratic response
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BP-Rosneft $16 Billion Share Swap Deal Fails

BP''s hopes of making Arctic oil production the key to its recovery from the Gulf of Mexico spill were dealt a severe blow after it failed to secure a $16
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Transocean Shareholders Agree to $1 Billion Dividend

Shareholders of Transocean Ltd. approved a $1 billion dividend and rejected a company-backed plan to discharge directors and executives for liability stemming from last year''s Gulf of Mexico oil spill,
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Oil CEOs Head to Capitol Hill

The Associated Press reports that Senate Democrats are calling top executives from the five biggest oil companies before a congressional hearing to discuss the high gasoline prices, big profits and
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Conoco Reaches Deal to Close Refinery in Germany

Bloomberg reports that ConocoPhillips has reached an agreement to close its Wilhelmshaven refinery, allowing it to convert the northern German facility to an oil storage terminal from June 1. The
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