Richardson sells oil refinery stock
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Democratic presidential candidate Bill Richardson, who promotes renewable energy as a way to wean the nation off of fossil fuels, has sold his stock holdings in the country's largest independent refining company.
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Nexen Inc., a Canadian energy and chemicals company, agreed to buy the UK oil business of EnCana Corp. for $2.1 billion, giving it control of the biggest British oil discovery in more than a decade.
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The Canadian government will sell its 19 percent stake in oil producer and refiner Petro-Canada (PCA.TO: Quote, Profile, Research) in a public offering, the company said on Thursday.
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Delays to the restart of a crude unit at BP Plc's  Texas City, Texas, refinery will cause it to miss its goal of raising crude oil processing rates at the refinery to 400,000 barrels per day by the end of 2007, a source familiar with refinery operations said Monday.
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The nation's biggest oil refiner agreed yesterday to spend more than $525 million to clean up nine plants scattered across the country, effectively removing 47,000 tons of harmful pollution from the air each year.
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Kinder Morgan Energy Partners LP in Houston has signed a definitive agreement to buy nine refined petroleum products terminals in the Southeast, including one in Greensboro, from Charter Terminal Co.
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The Justice Ministry said Tuesday that it planned to sell the core petroleum subsidiary of Yukos, the embattled Russian oil giant, at what appears to be a steep discount to settle billions of dollars in tax debts.
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The company has announced the sale of its part share in the Laminaria and Corallina oil fields to the British-owned Paladin Oil &amp; Gas.
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Crude oil futures rallied late Friday to a new record high of $54.90, a day after a decline in the U.S. inventory of heating oil roiled a market already on edge over tight supplies, high demand and unrest among key producers.
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NYMEX crude oil futures jumped 36  cents in electronic trading on Monday evening to the  psychological $50 a barrel level, the highest in the 21 years  oil futures have traded on the exchange, as Nigerian rebels  decided an "all-out" war against the government starting Oct.  1.
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American Biodiesel Fuels Corp. (Pink Sheets:ABDL) announced today that  the company has entered into a Letter of Intent to acquire Houston-based  Planet Resource Recovery, Inc. The transaction is through a share  exchange agreement on a basis of one share of American Biodiesel Fuels  Corp.
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The purchase, which ConocoPhillips, the American energy conern, made at an auction today for the Russian government's stake in Lukoil, sets the stage for projects in Iraq.
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BHP Billiton Limited (BHP) today announced it has agreed to sell its interests in the Laminaria and Corallina oil fields to Paladin Oil &amp; Gas (Australia) Pty Limited, a fully owned subsidiary of Paladin Resources plc, an independent oil and gas company
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Oil major BP on Thursday agreed to pay $373 million to settle U.S. charges stemming from a deadly Texas refinery explosion, an Alaska oil spill and allegations it manipulated the propane market.
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A Canadian steel maker, Ipsco, said it was buying the NS Group, a maker of steel pipes and tubes used in oil fields, for about $1.46 billion. The deal will be used to broaden IpscoÂs sales to the energy industry, the chief executive, David Sutherland, said. ÂThis is a transaction thatÂs all about growth, and if anything, what we will see over the next three years is a growth in the output of all of their facilities, as well as the continuing demand on our own,Â Mr. Sutherland said in a conference call. Ipsco agreed to pay $66 a share for the NS Group, which was a 43 percent premium to its closing price on Friday. After the transaction is complete, the new company is expected to have combined annual revenue of more than $4 billion. Ipsco, which is based in Regina, Saskatchewan, and has executive offices in Leslie, Ill., operates three steel mills and six pipe mills in the United States and Canada. The NS Group is based in Newport, Ky.
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BP said that second-quarter profit rose on the sale of the Coryton refinery in Britain and the West Texas pipeline in the United States to Occidental Petroleum.
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Halliburton's latest deal showcases the money to be made in oilfield services.