Even as the decision to stop gas supplies to Ukraine aggravates tensions with the U.S. and Europe, Russia faces a dilemma: it still needs Exxon Mobil Corp., Halliburton Co. and BP Plc to maintain output from Soviet-era oil fields and develop Arctic and shale reserves.
An icy rain is pelting about 30 protesters who’ve converged at the gate of a natural gas drilling site near Manchester, England. On the other side of a fence topped with razor wire, a 10-story-high rig is boring into shale to determine if it’s suitable for hydraulic fracturing, or fracking. The demonstrators unfurl a banner: “Fracking will poison our children.”
Hess Corp. agreed to sell its gasoline stations to Marathon Petroleum Corp. for $2.6 billion, the latest and largest in more than $12 billion of asset sales as the company focuses on producing oil and natural gas.
Fadel Gheit, managing director of oil and gas research at Oppenheimer & Co., talks with Bloomberg's Ken Prewitt and Tom Keene. For more ``Surveillance'' and ``On the Economy'' podcasts, please visit iAmplify.com.
Anadarko Petroleum Corp., the second-largest U.S. independent oil and natural-gas producer by market value, boosted its 2012 sales volume forecast and posted adjusted quarterly profit that exceeded analysts’ estimates.