Oil services company Halliburton reported that its net income more than doubled in the third quarter as a surge in onshore North American natural gas activity offset the suspension of drilling in the Gulf of Mexico.
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As it continues to raise funds to deal with the fallout from the Gulf oil spill, oil giant BP (BP) is set to sell a total of $1.8 billion in assets in Venezuela and Vietnam to TNK-BP.
TNK-BP, a joint venture between BP and a group of Russian billionaires, will make a $1 billion deposit by Oct. 29 and pay the rest in the first half of 2011, Bloomberg News reported.
“It sounds like a…
Continue reading BP to Sell Venezuela, Vietnam Assets for $1.8 Billion
BP to Sell Venezuela, Vietnam Assets for $1.8 Billion originally appeared on DailyFinance on Mon, 18 Oct 2010 06:28:00.
Filed Under: Energy, Company News, Green, BP
Some OPEC members want oil prices to rise to $100 a barrel to offset the decline in the dollar.
The value of the dollar, which has slipped 13% since June against major world currencies, means that the “real price” of oil is about $20 less than current levels, Venezuela’s Energy and Oil Minister Rafael Ramirez said after Thursday’s OPEC meeting in Vienna.
OPEC, which accounts for…
Continue reading Some OPEC Members Push for $100 a Barrel Oil
Some OPEC Members Push for $100 a Barrel Oil originally appeared on DailyFinance on Fri, 15 Oct 2010 07:57:00.
Filed Under: Energy, Technology, Green, Market News
Republicans can be friendly to solar energy — just don’t use the terms “recovery act” or “stimulus package” when lobbying them for government subsidies. That was the message from GOP political adviser Mary Matalin at the large…
The Organization of the Petroleum Exporting Countries will leave oil output unchanged, a delegate at the group’s current meeting told Reuters. Oil ministers apparently are not worried the weak dollar will drive up the price of …