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Plains Exploration to Buy BP Wells for $5.5 Billion

Reuters reported that Plains Exploration & Production Co. (NYSE:PXP) plans to borrow $7 billion so that it can purchase BP plc's (LSE:BP) stake in some deepwater wells in the Gulf of Mexico. Since...

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BP Halts Production at Ula Field Following Leak

Reuters reported that BP plc (LSE:BP) closed its Norwegian Ula field following a potentially dangerous leak last week. BP will not resume production until it knows what caused the problem.Continue...

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Oil Industry Headed for a Shake Up on Back of Rosneft’s Plans for TNK-BP

The Wall Street Journal reported that Russia's Rosneft (LSE:ROSN) is set to buy a 50 percent stake in TNK-BP Ltd. from BP plc (LSE:BP) for about $25 billion. It is also looking to buy out BP's partners...

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BP Keen on $7.8-billion Oil Spill Settlement

Bloomberg reported that BP plc (LSE:BP) is pushing a federal judge to okay a $7.8-billion settlement for owners of homes and businesses who sued the company for the economic damage they incurred after...

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BP Oil Spill Trial Delayed by Over a Month

Bloomberg reported that the trial regarding BP plc's (LSE:BP,NYSE:BP) liability for the 2010 Gulf of Mexico oil spill has been moved from January 14 to February 25. Continue reading...

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What Hugo Chavez’s Death Means for Venezuela’s Oil Market

The death of Hugo Chavez and the prospect of a regime change in Venezuela are likely to attract investor interest in the short term.Continue reading...

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Top 10 Oil Producing Companies of 2012

Below are the top 10 oil companies of 2012, ranked by daily production.Continue reading...

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