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BP Profit Gains on Record Oil, Higher Gas Prices
BP Plc, Europe’s second-biggest oil company, said profit rose 83 percent in the third quarter as record crude and higher natural-gas prices outweighed production setbacks in Azerbaijan and the Gulf of Mexico.
Net income increased to $8.05 billion from $4.41 billion a year ago, the London-based company said today in a statement distributed by the [...]
Iron Ore Mine Exploration by BHP Billiton in Australian Suspends
Exploration of iron ore mine perforced to be stopped by happened an accident in mine exploration locatio. Iron ore mine project is property of the biggest mining company of world, BHP Billiton. iron ore mine exploration stop will lessen supply and result of iron ore exploration BHP Billiton 14 percent.
Reported at bloomberg online, BHP [...]
Oil Market Slowdown, International Energy Agency Reported
The world oil market could be set for a lengthy slowdown, the International Energy Agency said on Wednesday, signalling a sharp shift in the climate that pushed the oil price to 100 dollars last month.
In light of weaker global economic prospects, the IEA cut its forecast for world demand for oil this year by 200,000 [...]
Pressure on oil companies grows to end gas flaring in Nigeria
For three minutes, on the day last May when Royal Dutch Shell released its first quarter earnings figures, a flame shot high into the air in front of the company’s head office in The Hague, scorching a human chain of about 40 protesters that circled it, a few meters away, to block police efforts to [...]
Oil Price London Tradding Reported : Oil retreats further and dips below $85
Oil fell more than $1 on Tuesday, retreating further from record highs set last week in response to concerns about the health of the U.S. economy and further indications OPEC has already substantially raised oil output.
U.S. crude was 86 cents lower at $85.16 a barrel by 11:30 a.m. London Brent fell 62 cents to [...]
BP Plc, Europe’s profit declined in the third quarter
BP Plc, Europe’s second-biggest oil company, reported profit declined less than analysts estimated in the third quarter and said its two largest U.S. refineries are increasing production.
Profit excluding one-time items and changes in inventories dropped 6.4 percent, beating analysts’ estimates for a second consecutive quarter. Net income slid 29 percent to $4.41 billion, or 23 [...]
Oil company Total SA 2Q Profit Drops 1 Percent
Oil company Total SA said Thursday that its second-quarter net profit edged down 1 percent as improved refinery margins failed to offset the weaker U.S. dollar.
Net income fell to 3.41 billion euros ($4.66 billion) from 3.44 billion euros in the same period a year ago, said Total, one of the world’s largest publicly traded oil [...]
African Oil Exploration : Ghana enters oil age with wary eye on neighbours
Ghana enters oil age with wary eye on neighbours Find could bring wealth, but some fear petrodollars may hinder economic recovery.
For years the question has puzzled Ghanaians: surely, in a region awash with oil, their country had some black gold of its own? Last month they got their answer. Ghana does have oil, and lots [...]
Crude oil futures briefly surge to $76 in N.Y. on supply worries
The benchmark crude oil futures momentarily reached $76.00 a barrel on Thursday in New York, propelled by jitters about a possible gasoline supply shortage in the United States amid the driving season.
The August contract for West Texas Intermediate crude oil increased $0.87 to $75.92, its highest level in about 11 months.
Buying was also spurred by [...]
