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...
View ArticleBP 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...
View ArticleOil 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...
View ArticleBP 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...
View ArticleBP 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...
View ArticleWhat 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...
View ArticleTop 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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