Oil & Gas News

Exxon Mobil's net income rose 28 percent in the second quarter on a sale of Asian assets and higher oil prices, but oil and gas production slipped a disappointing 6 percent.

Stocks fell sharply on Thursday as investors reacted to disappointing corporate earnings and outlooks from major U.S. companies including Exxon Mobil and Whole Foods Markets.

Two administrative law judges on Wednesday released a 25-page decision recommending that state utility regulators deny the company's request to exempt buildings to shelter 18 pump stations and 17 valve control stations from local zoning ordinances in 31 locations.

With its new campus in north Houston 20 percent complete, Irving-based Exxon Mobil Corp. has put two of its Houston facilities on the market.

The protest, attended by hundreds of supporters, was the culmination of a month-long "rolling rally" that marched through towns likely impacted by the proposed 250-mile long pipeline expansion in Berkshire, Worcester and Franklin counties.

The Suncor Refinery in Edmonton is seen on Tuesday, April 29, 2014. Suncor Energy Inc. has posted a nearly 70 per cent drop in net income during the second quarter as it took charges related to the cancellation of the Joslyn oilsands project and unrest in Libya.

Shares in Penn West Petroleum Ltd. fell sharply Wednesday after the company announced it's reviewing its accounting practices going back several years and will have to restate some of its past financial reports.

In a story July 22 about new federal anti-discrimination rules, The Associated Press reported erroneously the value of Exxon Mobil Corp. shares held by investors who supported amending the company's equal employment opportunity statement.

The San Antonio-based company said net income increased to $588 million, or $1.10 per share, from $466 million, or 85 cents per share, in the same quarter a year ago.

In this June 4 photo, Baltazar Rosado, of Hollywood, Fla., pumps gasoline into his car at a Chevron gasoline station in Pembroke Pines, Fla.

Tripoli: Rival militias fighting for control of Tripoli airport agreed on Wednesday to a temporary ceasefire to allow firefighters to try to control a huge blaze at a fuel depot hit by a rocket.

Chevron's five year-plus quest to initiate a $1 billion upgrade to its century old refinery, the largest in Northern California, was approved by a divided City Council late Tuesday after the company and city staff hammered out a last minute deal upping community investments and installing safety and piping upgrades as part of the project.

Its adjusted profit and revenue topped analysts' estimates, and the energy company boosted its stock buyback program to $6.5 billion from $4 billion.

The Contra Costa Times reports the City Council of Richmond voted 5-0 Tuesday night for the overhaul.

Nearly two years after a jury ruled in their favor, a group of investors entangled in a lawsuit with Marathon Oil over damaged properties can collect nearly half a million dollars.

The new shares are dis... )--Pulaski Financial Corp. reported net income available to common shareholders for the quarter ended June 30, 2014 of $2.8 mill... )--Newmont Mining Corporation will invest in developing the Merian gold mine in Suriname with strong local support for the project and expected all-in sustaining c... )--Mike Sickels, chairman ... (more)

President Barack Obama is exploring ways to prevent American businesses from moving their tax domiciles overseas, but the current spate of such occurrences really took off 15 years ago within the Houston energy sector, legal experts said.

The Pittsburgh Post-Gazette reported Tuesday that the energy company has delayed a final decision on the office project for the foreseeable future.

Oil executives had dinner at Logan Brown, a sail on Wellington Harbour and a four night stay at the Intercontinental - all on the taxpayer.

The Vickers ranch is crossed by a steel pipe as thick as a man's calf. It delivers crude oil from a cluster of south Texas oilfields known as the Vicksburg Fault Zone to refineries in the subtropical waterfront city of Corpus Christi.