The Big Oil industry’s prized projects won’t face major cuts unless oil prices fall below $70 a barrel, BP’s chief financial officer told investors on Tuesday. More »
Statoil ASA, Norway’s biggest energy company, reported its first quarterly loss since listing in 2001 after writing down the value of an oil-sands project in Canada and struggling with plunging crude prices. More »
On a week in which many executives have tried to downplay concerns about declining crude oil prices, the message provided one of the clearest pictures yet of how, exactly, the latest slide would affect earnings. More »
Hess Corp.’s third quarter profits increased 140 percent to $1 billion, the New York-based exploration and production company announced, as the company enjoyed the proceeds of a massive asset sale. More »
Plummeting crude prices worldwide doubled Phillips 66′s profits in the third quarter, providing the company with a cheaper feedstock to run its refineries. More »
Patrick Pouyanne, who was named to succeed de Margerie last week, plans to “hit the road” to visit contacts in the oil industry and in several resource-rich countries More »
Gangs of thieves armed with knives and guns are making Southeast Asian waters increasingly dangerous for small tankers carrying fuels such as gasoil or marine diesel. More »
Three oil companies with billions invested in Arctic drilling leases are pleading with the Obama administration for extra time to hunt for crude under waters north of Alaska, but so far, federal regulators have been skeptical. More »