Oil & Gas News

Four Colorado veterans are the latest to file "burn pit" lawsuits against military contractors accused of exposing soldiers to toxic fumes and ash.

Filed under: Deals , Berkshire Hathaway , Burlington Northern Santa Fe Warren Buffett's decision to buy the 77.4% shares of Burlington Northern Santa Fe that he did not already own, for $100 each in cash and stock, is like an early holiday present for BNI shareholders.

A CONSORTIUM including Royal Dutch Shell has bagged a $50billion deal to develop one of Iraq's most prized oil fields, The oil giant will join rival BP in the country after the consortium, led by US oil major Exxon Mobil, won the 20-year contract for West Qurna, which has reserves of 8.7billion barrels.

The move comes because of decreased activity and difficult economic conditions with Chevron's oil assets in Cook Inlet.

Enbridge Energy Partners LP has closed on the sale of 12 natural gas pipeline assets to American Midstream Partners LP for $151 million.

Halliburton Co. said Friday it received a contract to drill and complete oil wells in Saudi Arabia's Ghawar field.

The number of rigs actively exploring for oil and natural gas in the U.S. this week rose by nine this week to 1,078. Houston-based Baker Hughes Inc.

Nov 6 - Iraq signs a deal with Exxon Mobil executives in Baghdad to bag initial rights for development of the country's West Qurna field.

Suncor Energy Inc. is reporting third quarter net earnings of $929 million, or 74 cents per common share, in its first quarterly earnings report since merging with Petro-Canada. That compares to net earnings of $815 million, or 87 cents per common share, in the year-ago period.

Norwegian oil company Statoil ASA agreed last month to sell part of its interests in the U.S. Gulf of Mexico to the China National Offshore Oil Corporation, a company spokesman said Thursday.

The Toronto stock market closed higher Thursday with investors getting some good news prior to the release on Friday of the main piece of economic data for the week - the U.S. government's October non-farms payroll report.

Net income at Canadian Natural Resources Limited tumbled from year-ago levels in the third quarter as the company felt the impact of a harsh natural-gas market and high production costs.

Published: Thursday, November 5, 2009 at 12:18 p.m. Last Modified: Thursday, November 5, 2009 at 12:18 p.m. Power company Dynegy Inc.

In this file photo of Friday, July 17, 2009, an Iraqi worker operates valves at the Nahran Omar oil refinery near the city of Basra 550 kilometers southeast of Baghdad, Iraq.

State regulators are fining a Houston-based company because its natural-gas drilling operations polluted residents' water wells in northeastern Pennsylvania.

State-owned Sinopec Corp. said Thursday it has reached a preliminary agreement with Exxon Mobil Corp.

Crown Castle International Corp. , which owns and operates cell phone towers, on Tuesday reported a third-quarter loss roughly flat with year-ago results, as higher sales failed to offset growing costs.

The Toronto stock market closed higher Tuesday but the rise was mainly due to gold surging to a record high close, railway stocks that benefited from major acquisition activity south of the border and higher oil prices.

China National Petroleum Corp has begun the construction of a pipeline across Myanmar.

The Canadian Press/ Handout photo CALGARY - As Enbridge Inc. glides through what it anticipates will be "the strongest growth year in the company's history," the pipeline and gas distribution firm has increased its 2009 guidance and is exuding confidence it can maintain steady growth into the next decade.