Exelon raises hostile bid for NRG to $8 billion AP (July 02, 2009) COLUMBUS, Ohio (AP) - Exelon Corp. on Thursday sweetened its hostile takeover bid for NRG Energy Inc. by 12 percent to $8 billion in stock, citing newly identified cost savings along with NRG's recent deal for Reliant Energy's Texas retail business.
Oil prices tumble as Europe and the US shed jobs AP (July 02, 2009) NEW YORK (AP) - Oil prices tumbled to their lowest level in a month Thursday following the release of woeful job numbers in Europe and the U.S.
Oil rises nears $72 with supplies falling AP (July 01, 2009) NEW YORK (AP) - Oil prices climbed nearer to $72 a barrel Wednesday with early indications that the government could report crude supplies have dropped for the seven out of the past eight weeks.
Hyundai offers $1.49 gas guarantee for buyers AP (June 30, 2009) NEW YORK (AP) - Hyundai said Tuesday that customers in the U.S. who buy or lease its vehicles by Aug. 31 will receive a gas card that lets them buy fuel at $1.49 a gallon for a year, a promotion to win over consumers worried about volatile prices at the pump.
ConocoPhillips, Aramco relaunch Yanbu bidding AP (June 30, 2009) HOUSTON (AP) - ConocoPhillips and the state-run Saudi Arabian Oil Co. said Tuesday they've revived plans to build a multibillion-dollar refinery in Saudi Arabia, citing improved economic conditions.
Oil up to near $72 on dollar fall, Nigeria attack AP (June 30, 2009) (AP) - Oil prices rose to near $72 a barrel Tuesday after briefly jumping above $73, an eight-month high, due to a weakening U.S. dollar and attacks on oil installations in Nigeria.
Iraqi oil licensing round runs into trouble AP (June 30, 2009) BAGHDAD (AP) - The first bidding in more than 30 years for development rights to some of Iraq's oil fields stumbled Tuesday, with only one field being awarded as major foreign firms demanded better terms from a government in dire need of crude revenues.
EPA targets 44 coal ash sites in 10 states AP (June 30, 2009) WASHINGTON (AP) - Forty-four coal ash storage sites near 26 communities have been targeted for inspection after federal officials identified the ponds as potential threats to nearby residents.
Oil jumps above $73 on dollar fall, Nigeria attack AP (June 30, 2009) SINGAPORE (AP) - Oil prices jumped above $73 a barrel Tuesday in Asia as a weakening U.S. dollar and attacks on oil installations in Nigeria helped push prices to eight-month highs.
Wide-ranging energy measure ready for floor vote AP (June 26, 2009) WASHINGTON (AP) - The House has set the stage for a historic vote on hotly contested legislation to combat global warming and overhaul U.S. energy policy.
Oil below $70 as worries over US demand resurface AP (June 26, 2009) (AP) - Oil prices followed stock markets lower on Friday and slipped below $70 a barrel as U.S. economic data showed that consumers' savings rate increasing faster than spending, renewing uncertainty over oil demand.
Oil rises above $69 on Commerce Department report AP (June 25, 2009) NEW YORK (AP) - Oil prices rose above $69 a barrel Thursday after the government said that the economy may be faring better than previously thought.
Sinopec seeks capacity, reserves with Addax bid AP (June 25, 2009) SHANGHAI (AP) - Sinopec, with its $7.2 billion bid for Addax Petroleum, is seeking crucial production capacity and coveted reserves in West Africa and the Middle East to help balance its heavy reliance on crude oil processing.
BP taps Ericsson boss in surprise appointment AP (June 25, 2009) LONDON (AP) - Oil major BP Group PLC surprised the industry by revealing Thursday it has selected current L.M. Ericsson chief executive Carl-Henric Svanberg as its new chairman, ending a two-year hunt to fill the position.
China's Sinopec to acquire Addax Petroleum AP (June 24, 2009) CALGARY, Alberta (AP) - Chinese refiner Sinopec agreed to acquire oil and gas exploration company Addax Petroleum Corp. in a deal valued at $8.27 billion Canadian (US$7.2 billion), gaining access to reserves in West Africa and the Middle East.
Crude supplies drop more than expected AP (June 24, 2009) NEW YORK (AP) - Crude inventories dropped more than expected last week, while gasoline inventories soared, the government said Wednesday.
Jatropha tree examined as a biofuel alternative AP (June 24, 2009) FORT MYERS, Fla. (AP) - What some see as the biofuel of the future starts out as short, thick stems with a few leaves sticking out at sharp angles. But in just a few years, they will be tall, leafy trees with bright green spherical pods spilling their seeds all over the ground.
Oil volatile around $67 on grim World Bank view AP (June 23, 2009) (AP) - Oil prices were volatile Tuesday, as continued uncertainty about the global economy and demand for crude were offset by the weaker dollar, which drew some speculators back to commodities.
Hyundai CEO: Gas tax may ease consumer uncertainty AP (June 23, 2009) NEW YORK (AP) - Consumers remain skittish about buying new cars not just because gas is getting more expensive, but because they have no idea which direction prices will go next, Hyundai's top U.S. executive said, calling for a flexible gas tax designed to keep pump prices stable.
Oil falls below $68 as optimism on economy wanes AP (June 22, 2009) (AP) - Oil prices were down by more than $2 to below $68 a barrel Monday as the World Bank said the global economy would shrink by 2.9 percent this year, much worse than its March prediction for a contraction of 1.7 percent.
Big oilfield services companies cut more jobs AP (June 19, 2009) HOUSTON (AP) - Even with crude prices on the rise, three of the biggest oilfield services companies say they've cut more jobs as they adjust to sluggish exploration and drilling activity.
Oil near $72 as investors eye inflation AP (June 19, 2009) NEW YORK (AP) - Oil rose to end the week despite government reports showing that U.S. manufacturing is in decline and that the nation continues to sit on a massive surplus of crude.
Energy prices drop with gas supplies healthy AP (June 19, 2009) NEW YORK (AP) - Gasoline markets exhibited the first signs this week that an extended rally in pump prices is nearing an end after 52 straight days on the rise.
Funds to shut nuclear plants fall short AP (June 17, 2009) VERNON, Vt. (AP) - The companies that own almost half the nation's nuclear reactors are not setting aside enough money to dismantle them, and many may sit idle for decades and pose safety and security risks as a result, an Associated Press investigation has found.
Gas prices rise for 50th straight day AP (June 17, 2009) NEW YORK (AP) - Retail gas prices climbed for the 50th straight day Wednesday, the longest streak in records dating to 1996, even as benchmark crude fell for the fourth day in a row.
Oil falls below $70 on mixed US economic signs AP (June 17, 2009) (AP) - Oil prices fell below $70 a barrel Wednesday as investors weighed mixed signals from the U.S. economy amid sliding equity markets and waited for new data on inventory levels.
Oil back above $72 as dollar slumps AP (June 16, 2009) (AP) - Oil prices rose back above $72 a barrel Tuesday as investors picked up commodities after the U.S. dollar slumped on comments by Russian President Medvedev, who said the world needed new reserve currencies.
Province has tentative deal in Canada oil project AP (June 16, 2009) ST. JOHN's, Newfoundland (AP) - The leader of Canada's east coast province of Newfoundland has announced a tentative agreement to develop an offshore project estimated to contain 223 million barrels of oil.
Court steps into dispute between Shell, stations AP (June 15, 2009) WASHINGTON (AP) - The Supreme Court is stepping into a dispute between Shell Oil Co. and gas station operators who claim the oil company tried to drive them out of business.
Oil falls below $72 as US dollar strengthens AP (June 15, 2009) (AP) - Oil prices fell below $72 a barrel Monday, halting a three-month rally, as the dollar, which typically trades inversely to crude, was boosted by comments by Russia's finance minister.
Ore. project would use manure, tires for energy AP (June 15, 2009) BOARDMAN, Ore. (AP) - An Oregon company is seeking permits for a facility on the Columbia River that would harness methane gas for energy by collecting it from decomposing old tires and cow manure.
US: Stalled clean coal plant moving ahead in Ill. AP (June 12, 2009) WASHINGTON (AP) - The Department of Energy is moving forward on a futuristic coal-burning power plant in Illinois that the Bush administration had declared dead.
Oil slips to $71 as investors take profits AP (June 12, 2009) VIENNA (AP) - Oil prices slipped to near $71 a barrel Friday as the crude market took a breather from its recent daily gains. But the mood remained bullish as investors eyed signs that the global recession may be easing.
Oil near $72 on economic recovery hopes AP (June 11, 2009) VIENNA (AP) - Oil prices hovered near $72 a barrel Thursday as investor optimism about a global economic recovery pushed crude to fresh highs for the year.
Slump in 2009 global oil demand seen moderating AP (June 11, 2009) PARIS (AP) - The International Energy Agency on Thursday forecast that the slump in global oil demand in 2009 would be slightly less severe than previously expected, the organization's first upward revision to its estimates in 10 months as economic indicators suggest the recession may be past its peak.
Taiwan invited to light up Chinese cities AP (June 11, 2009) TAIPEI, Taiwan (AP) - Chinese officials have invited Taiwanese companies to supply selected mainland cities with ultra-bright, energy-saving LED lights, the latest in a series of big business deals between the rivals.
Not so windy: Research suggests winds dying down AP (June 10, 2009) WASHINGTON (AP) - The wind, a favorite power source of the green energy movement, seems to be dying down across the United States. And the cause, ironically, may be global warming - the very problem wind power seeks to address.
Oil soars above $71, hitting 2009 high AP (June 10, 2009) VIENNA (AP) - Oil prices soared above $71 a barrel Wednesday to reach a 2009 high, as investors poured money into crude markets to protect themselves against the inflation risks posed by a weakening U.S. dollar.
Oil soars above $71 in Asia, hitting 2009 high AP (June 10, 2009) SINGAPORE (AP) - Oil prices soared above $71 a barrel Wednesday in Asia, reaching a 2009 high, as investors poured money into the commodity as a hedge against a weakening U.S. dollar and inflation.
Senate panel approves drilling off Florida AP (June 09, 2009) WASHINGTON (AP) - A Senate committee on Tuesday approved opening the eastern Gulf of Mexico to oil and gas drilling, including in an area rich with natural gas 10 miles off the Florida Panhandle. A 45-mile no-drilling buffer would be maintained off most of Florida's coast.
Crude passes $70 but gas prices flatten AP (June 09, 2009) HOUSTON (AP) - While crude passed $70 a barrel Tuesday, gasoline prices failed to rise overnight for the first time in 42 days, signaling a possible break for motorists as summer driving shifts into high gear.
Heritage Oil buying Turkey's Genel Enerji AP (June 09, 2009) CALGARY, Alberta (AP) - Heritage Oil Ltd., an energy company with operations in Russia and the Middle East, said Tuesday it will buy the privately held oil producer Genel Enerji AS of Turkey for stock worth more than 3 billion Canadian dollars ($2.7 billion).
Gas prices flatten for first time since April AP (June 09, 2009) HOUSTON (AP) - While crude flirted with $70 a barrel Tuesday, gasoline prices failed to rise overnight for the first time in 42 days, signaling a possible break for motorists as summer driving shifts into high gear.