Gianna Bern News
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Petroleo Brasileiro SA is finding it hard to pump oil at one of Brazil’s largest prospects, three people with knowledge of the project said, signaling its venture with BG Group Plc and Galp Energia SGPS SA may have higher costs or slower development than at other offshore fields.
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Occidental Petroleum Corp. will lose its two-decade leader Ray Irani next year, freeing the $66 billion energy company to sell its operations outside the U.S. and boost one of the industry’s worst valuations.
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Exxon Mobil Corp.’s failed shale-gas wells in Poland may hobble the nation’s effort to become one of the world’s major energy sources and dismantle Russian dominance of Eastern European natural-gas markets.
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Exxon Mobil Corp.’s failed shale-gas wells in Poland may hobble the nation’s effort to become one of the world’s major energy sources and dismantle Russian dominance of Eastern European natural-gas markets.
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Petroleo Brasileiro SA , the world’s third-largest oil company by market value, said fourth-quarter profit surged 38 percent to a record after production increased.
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BP Plc agreed to sell its Texas City refinery, site of one of the deadliest U.S. industrial accidents in 20 years, to Marathon Petroleum Corp. for at least $598 million in cash, less than BP planned for the deal last year.
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Billionaire Paul Singer’s best chance to maximize his potential $800 million investment in Hess Corp. may be to press for a sale of the whole company after the oil and natural gas producer exits its refining and storage businesses.
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Exxon Mobil Corp. Chief Executive Officer Rex Tillerson is playing catch-up with a former rival, ex-BP Plc CEO Tony Hayward, in a race to tap oil riches in Iraq’s Kurdish region that dwarf the deep-water Gulf of Mexico.
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Chevron Corp.’s forecast for “notably higher” quarterly profit bodes well for competing international energy producers also grappling with oil- production and refining challenges.
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Chevron Corp., the U.S. oil producer operating the $3.6 billion Frade oilfield off the coast of Brazil, was blocked from drilling in the South American country while the government probes a recent spill.
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