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Oil & Gas

BP Sells Aluminum Unit to Japanese Consortium

BP announced it is selling its Arco Aluminum subsidiary to a Japanese consortium for $680 million, reports the Associated Press. The company is selling Arco, a supplier of rolled aluminum
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Nigeria Awards $2 Billion Gas Processing Facility Contract to Eni, Oando

Nigeria awarded a $2 billion contract to Eni SpA’s Agip and Oando Plc to build a natural gas processing facility at Obiafu in the southern Rivers state, reports Bloomberg. The
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Libya Threatens Oil Contracts with Western Firms

The World Tribune reports, Libya has threatened to sever energy contracts with companies from NATO states. Officials said the regime of Col. Moammar Gadhafi has linked the future of energy
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Consortium Rejects BP Proposal Over Deal with Russia''s Rosneft

BP PLC''s partners in Russian joint venture TNK-BP rejected a proposal by the British oil company, reports the Associated Press. BP said the consortium of Russian billionaire shareholders did not
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Valero to Buy Chevron’s Pembroke Refinery for $1.73 Billion

Bloomberg reports, Valero Energy Corp. has agreed to buy Chevron Corp.’s U.K. refinery and 1,000 retail outlets for about $1.73 billion in cash, gaining its first European plant. The Pembroke
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BP to Pay $7.2 Billion for India Energy Fields Stake

The British oil company BP said that it would pay $7.2 billion-growing oil and gas industry, reports the Associated Press. BP will take a 30 percent stake in 23 oil
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ConAgra to Shut Down Slim Jim Plant

Bizjournal reports, ConAgra will complete the shutdown of its Garner Slim Jim production plant and lay off the remaining 394 employees there by May 27 – nearly two years after
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Oil Industry Braces for Fallout From Libya

Oil consuming nations have emergency reserves they can use to stabilize markets in case the violence in Libya and the wider Middle East escalates and crimps production, officials said, reports
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Ecuador Accepts US Court Decision Favoring Chevron

The Associated Press reports, Ecuadorian officials say they will temporarily block a potential multibillion-dollar judgment against Chevron Corp. for alleged environmental damages. The Attorney General''s Office says in a statement
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Oil Driller Ensco to Buy Rival Pride

Ensco Plc will buy its rival Pride International Inc for about $7.3 billion in a deal that would create the world''s second-largest offshore oil and gas driller, according to the
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