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Oil & Gas

BP Reports Sharp Turnaround in Second Quarter Earnings

BP reported $5.3 billion in second-quarter earnings, marking a sharp turnaround from the staggering loss the oil company reported in the same period last year, according to CNNMoney. The company
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Fuel Strike Hits Sasol Fuel, Chemical Output

Sasol reports a drop in production at its Secunda plant as workers and employers meet in bid to end strike action, according to Business Day.The rate of production at the
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South African Energy Workers Join Strike Over Pay Increases

Bloomberg reports, South African oil workers at refineries run by Royal Dutch Shell Plc, Chevron Corp. and Sasol Ltd. Have joined in a weeklong metal industry strike to demand
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South Africa Petroleum Body Wants Antitrust Exemption

According to Bloomberg, the South African Petroleum Industry Association, whose members include the local units of BP, Chevron, Total SA and Petroliam Nasional Bhd, wants the nation’s antitrust body to
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Exxon Builds Australian Terminal

Zacks Equity Research reports that ExxonMobil Corp. plans to initiate the construction of a new 9 million liter diesel fuel tank at the Birkenhead fuel terminal in Adelaide, Australia.Mobil Oil
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China Food Factory Owner Held Amid Chemical Scare

The Associated Foreign Press reports, police in southern China have detained a factory owner suspected of mixing an industrial chemical used to soften plastics into food additives, state media reported.
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Chevron Contracts to AusGroup

The Australian unit of Chevron Corporation awarded a major pipe stool manufacturing contract to AusGroup for the Gorgon liquefied natural gas project. The value of the deal has been estimated
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Dow Makes Energy from Recycled Plastic

In a press release statement, Dow Chemical Company announced that it has successfully demonstrated the use of recycled plastic to generate energy. The successful pilot test measured how plastic that
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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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LyondellBasell to Boost Ethylene Output in US

Bloomberg reports, LyondellBasell plans to boost U.S. ethylene output and may build another plant as rising shale-gas supplies increase the country’s competitiveness. Expansions at existing plants, possibly in Channelview and
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