Oil prices rose modestly, after spiking by almost $2 a barrel earlier Monday, on reports that an Alaskan pipeline that was shut down Saturday because of an oil leak will reopen within days.
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BP (BP), ConocoPhillips (COP) and Exxon Mobil (XOM) have cut their oil production from Alaska’s Prudhoe Bay field by 95% after a leak was discovered in the Trans-Alaska Pipeline. No one is certain how long the leak will take to fix. It appears to be in…
Facing widespread calls for boycotts, owners responded by hammering home the message that the U.K. oil company doesn’t own most of the retail locations that bear its name. Now as anger fades, business is coming back, and few ow…
Shares of BP (BP) jumped to the highest level in six months on media reports that Royal Dutch Shell (RDS.A) considered bidding for the British company during the Gulf Oil disaster.
BP shares climbed 5% to 488.85 pence at 10:00 GMT, Reuters reported. …
One would think that BP’s massive Gulf of Mexico oil spill this year would have given pause to the global oil industry, but that doesn’t appear to be the case. Companies in the sector are planning to spend a record $490 billion…