Gunvor Group failed to buy North Sea Forties crude at a lower differential than yesterday’s trades. Eni SpA didn’t manage to buy Russian Urals blend in the Mediterranean even after raising its bid to the highest level in more than four months.
Goldman Sachs Group Inc. may be better off cutting its losses instead of fighting what it terms “unfounded” fraud claims, say professors of securities law who have examined the U.S. Securities and Exchange Commission’s lawsuit against the bank.
Apache Corp., this year’s third-worst performing oil and natural gas producer on Standard & Poor’s energy index, plans to sell $4 billion in assets by yearend and buy back shares as first-quarter profit missed analysts’ estimates.
Apache Corp. , the largest independent U.S. oil company based on market value, said the government approved a permit to resume plugging and abandonment operations at a platform in the Gulf of Mexico that was near what regulators call a natural-gas leak.
A fire on a Mariner Energy Inc. oil and natural-gas platform in the Gulf of Mexico has been extinguished in an event that may prolong the U.S. drilling moratorium imposed after BP Plc’s record crude spill.
The blaze aboard a Mariner Energy Inc. oil platform yesterday shows President Barack Obama should maintain the drilling ban imposed after the BP Plc blowout in April, lawmakers and environmentalists said.