Oil refinery catches fire in Northern California

Aug 7, 2012
A major refinery for Chevron caught fire in California last night. The fire has been contained, but it's still burning. And one less refinery won't be any help for already high gas prices.
Posted In: Oil, Chevron, fire

BP oil earnings report shows signs of weakness

Jul 31, 2012
The British oil company BP is reporting a sharp drop in profits. The company made just $238 million last quarter, compared with more than $5 billion a year ago.
Posted In: BP, Oil, Earnings

China wants oil company with U.S. assets

Jul 24, 2012
Analysts don't expect a replay of the fight that stopped CNOOC from buying Unocal.
Posted In: Oil, China, CNOOC

Oil services firms get squeezed by slowdown

Jul 20, 2012
Schlumberger and Baker Hughes help big oil drill. But their business is softening as some drillers pull back due to the economic slowdown.
Posted In: Oil

British lawmakers concerned over oil price reporting

Jul 16, 2012
In the U.K. today, lawmakers are highlighting an overlooked G20 report that says oil price-reporting has some uncomfortable similarities to the LIBOR rate fixing scandal.
Posted In: Oil, LIBOR, price fixing

EU sanctions Iran by refusing to insure oil tankers

Jul 12, 2012
Iranian oil producers may find other ways to sell their product, but with few options to insure their ships, a lot of oil will be sitting in the harbor.
Posted In: Iran, Oil, European Union, sanctions

South Texas towns helped by energy boom

Jul 6, 2012
Several small towns in Texas are growing because of new oil and gas drilling. But can the boom last?
Posted In: Oil, texas

The smell of prosperity or illness?

Jun 29, 2012
The residents of Roxana, Ill. debate if the oil refineries in and around their town represent jobs and money, cancer or something else.
Posted In: Oil, refineries, oil spill, cancer, Roxana, Illinois

Global political climate helping oil prices drop

Jun 27, 2012
Oil prices are down about 25 percent in the past few weeks. Those falling oil prices are good for our pocketbooks. They're also good for American foreign policy.
Posted In: Oil, gas

Gas, oil prices dropping in June

Jun 21, 2012
If you've been to a gas station recently, you know that prices are down -- on average, about 20 cents lower per gallon than a month ago. That's in part because the price of oil is at an eight-month low.
Posted In: gas, Oil, Iran