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Oil Exploration Report : Chevron profit jumps 24% on strong refining margins
Chevron Corp., the nation’s No. 2 oil company, said Friday its second-quarter net income rose 24%, propelled by robust refining margins in its core West Coast fuel market and a $680 million gain from the sale of its stake in Houston power company Dynegy.
The results put Chevron CVX at the top end of Big Oil [...]
India’s state-owned Oil & Natural Gas gets a new chairman
India’s state-owned oil company, Oil & Natural Gas, has given its acting chairman, R.S. Sharma, the role permanently after a 14-month search failed to attract private-sector candidates for a job that pays about $20,000 a year.
Sharma, 56, won final approval from the office of the prime minister on Wednesday. He replaced Subir Raha, who stepped [...]
Utah, Colorado rival OPEC oil reserves, lure Chevron, Exxon, Shell
Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.
That’s not science fiction, according to Bloomberg News. Trapped in limestone up to 200 feet (61 meters) thick in the two Rocky Mountain states is enough so-called shale oil to [...]
Oil shale’s lure beckons wiser Western Slope
The promise of oil shale collapsed in thousands of pink slips and many more broken dreams and fortunes on May 2, 1982 – a day known here as Black Sunday.
On the 25th anniversary of the oil-shale industry bust, the resource still dangles the enticing prospect of a new domestic source of fuel. And once again, [...]
GE’s First-Quarter Profit Rises on Aviation, Power
General Electric Co. said first- quarter profit rose 8 percent, led by Chief Executive Officer Jeffrey Immelt’s strategy of selling more power-plant and aviation equipment in the world’s fastest-growing economies.
Profit from continuing operations climbed to $4.51 billion, or 44 cents a share, from $4.18 billion, or 40 cents, matching analysts’ estimates. Revenue grew 5.7 percent [...]
New Alaska governor banks on pipeline plan
Sarah Palin knows Alaska an image problem, an identity she inherited two months ago when she was sworn in as the state’s first female and youngest governor.
One way to sway critics would be to rally state lawmakers behind a soon-to-be released plan outlining terms for natural gas pipeline contract negotiations.
It would pave the way for [...]
Big Oil to discuss key energy challenges
With dwindling oil supplies, pollution concerns and the ever-present threat of gas prices soaring again, talk of new and better ways to fuel our cars, heat and cool our homes, and power our factories has never been greater. What’s more, the conversation is emanating increasingly from a source that’s been surprisingly quiet until recently — [...]
Top executives will meet this week to discuss supply challenges and fossil fuel alternatives.
With dwindling oil supplies, pollution concerns and the ever-present threat of gas prices soaring again, talk of new and better ways to fuel our cars, heat and cool our homes and power our factories has never been greater.
What’s more, the conversation is emanating increasingly from a source that’s been surprisingly quiet until recently — the [...]
Oil companies discuss energy challenges
When some of the industry’s top executives gather in Houston next week to discuss global energy challenges, finding new and more effective ways to produce oil and gas — as well as alternatives to fossil fuels — will dominate the discussion.
And, as the year progresses, expect to see industry leaders — including the chiefs [...]
