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S&P lowered its credit ratings for ExxonMobil and other US players, citing the risk of lost market share to renewable energy, among other factors

S&P Lowers Ratings For US Oil Giants

S&P lowers ratings for US oil giants

ONGC Hits Iranian Wall In $5 Billion Bid For ConocoPhillips Units

Oil & Natural Gas Corp. (Mumbai: ONGC), India's largest state-controlled energy driller, could lose its bid for $5 billion in Canadian assets controlled by energy giant ConocoPhillips Co. (NYSE: COP), due to its investments in Iran, which is facing U.S. sanctions.

Hurricane Isaac, Venezuelan Oil Refinery Explosion Could Send Oil Prices Up

A tower of an oil refinery is seen in Venezuela

The Hurricane Isaac-related shutdown of at least four U.S. oil refineries and an explosion at a major refinery in Venezuela -- the fourth-largest provider of oil to the U.S. -- could lead to oil prices rising as supply falls.

Warren Buffett's Berkshire Hathaway Drops Intel, Bets On Oil

Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK.B) dumped its shares of Intel Corporation (Nasdaq: INTC) last quarter and cut its stake in The Procter & Gamble Company (NYSE: PG) while boosting its exposure to oil refining and oil services.

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ConocoPhillips Reports Oil Leak In China's Bohai Bay

Chinese oil company CNOOC said the localsubsidiary of U.S. oil company ConocoPhillips is cleaning up a small and contained oil spill, on the site where a much larger spill occurred last year.

ConocoPhillips CEO and Chairman James Mulva

ConocoPhillips To Sell All Of Its Nigerian Assets

The U.S. oil major is preparing to sell all of its assets in one of Africa's leading producers of crude oil -- Nigeria.

China Begins Deepwater Drilling In South China Sea

China is set to move ahead with deepwater drilling in the South China Sea -- a controversial method of resource extraction in a controversial area of the world.

ConocoPhillips Fined $257M For Chinese Oil Spill

Houston-based oil ang gas giant ConocoPhillips (NYSE: COP) has been fined $257 million to settle charges brought by the Chinese government following a massive oil spill. The company's Chinese venture partner, CNOOC Ltd., was also fined, to the tune of $76 million.

BP Earnings Fall As Gulf Spill Costs Continue To Weigh

BP Plc (BP.L) reported a bigger-than-expected profit drop on the back of a fall in production prompted by the need to sell oil fields to pay for the Gulf of Mexico disaster, raising concerns about the oil group's turnaround plan.

Mergers, Acquisitions Increase: Sunoco, Delta, Payless Shoe

Mergers and acquisitions are on the upstream as low interest rates, rising business and consumer confidence plus depressed prices for some assets have companies seeking buys that will allow them to expand or cut costs through synergy.

Delta To Bid On ConocoPhillips' Oil Refinery For $150 Million: Reuters

Delta Air Lines Inc. (NYSE: DAL), the second-largest U.S. commercial airline, is reportedly close to a bid for a Pennsylvania oil refinery that could mitigate high fuel costs by cutting out the middleman.

A drilling rig in the Eagle Ford Shale in South Texas

Natural Gas Prices Unsustainable For Future Growth, Says Poll

According to a survey released this week, oil and natural gas executives and investors think the price of natural gas will remain below $2.50 per 1,000 cubic feet for the rest of the year -- a level that is too low for the industry's growth.

The Sacyr Vallehermoso Tower is reflected on the Repsol office building in Madrid

Repsol Threatens Investors In Argentina With Legal Action

Spanish oil company Repsol threatened on Monday legal action against any investors helping newly nationalized Argentine oil company YPF develop oil resources previously discovered by the Spanish firm.

US Stock Futures Point To Sharply Lower Open On Europe Woes

Stock index futures pointed to a sharply lower open on Monday on weak European data and renewed anxiety over how the region would tackle its debt crisis, while Wal-Mart slumped after a report it stymied a probe into bribery allegations.

Europe Anxiety Drives Down Futures, Wal-Mart Slides

Stock index futures slid on Monday on renewed anxiety over how Europe would tackle its sovereign debt crisis while Wal-Mart shares fell after a report about a stymied probe into bribery allegations.

US Stock Futures Down On Europe Concerns, Wal-Mart Drops

Stock index futures were sharply lower on Monday as political uncertainty in Europe raised new questions about how effectively the region would tackle its sovereign debt crisis.

50 Key Earnings Reports To Watch, April 23-27

Earnings season is in full swing, and about 80 percent of the companies that have already reported topped estimates. We ran a screen and produced a list of 50 key companies set to report their earnings between April 23 and 27.

A gas drilling site on the Marcellus Shale is seen in Hickory, Pennsylvania February 24, 2009.

Hydraulic Fracturing Knocking On Illinois' Doorstep

Hydraulic fracturing and natural gas development could spread soon to Illinois as companies rush to lease land in the southern part of the state.

A Texas natural Gas Rig in Eagle Ford Shale

Chesapeake Energy Raises $2.6 Billion In Asset Sale To Fight Low Natural Gas Prices

With the price of natural gas at its lowest point in two years, natural gas-producing companies are trying to raise enough capital to keep afloat, and the second-largest among them is no exception.

Alaska, Oil Giants Reach Deal On $40 Billion Pipeline Project

BP, ExxonMobil and ConocoPhillips ended litigation with Alaska over a field of natural gas in the state's North Slope that has remained undeveloped for 30 years.

Fuel Price Threat From Refining Reduction May Ease As Bids Grow For ConocoPhillips' Idled Trainer Facility

The death of a ConocoPhillips (NYSE: COP) refinery in Pennsylvania may be avoided as bidders line up to buy the idled plant.

A BP petrol station sign is seen at dawn in west London

BP Enters Utica Shale, Leases Large Swath of Ohio

British oil giant BP is expanding gas drilling in Ohio despite the continuing decline in gas prices.

The Chicago PMI continues to signal economic recovery for the region, although some business have become worried about rising energy costs

US Senate Votes To Start Debate On Ending Subsidies For Big Oil

Despite Monday's 92-4 vote, Republicans are likely to kill the bill later this week if, as expected, they're not allowed by the Senate's Democratic leadership to propose amendments.

The U.S. Capitol, Senators will vote to eliminate Oil Tax Breaks.

Senate Big Oil Tax Vote 'A Trojan Horse' For Industry and U.S. Economy, Oil Group Says

The American Petroleum Institute, the country's largest oil industry backed trade group, slammed the U.S. Senate as it readies to vote to eliminate tax breaks for oil companies.