Archives for 2016
Oil and gasoline inventories decline more than anticipated
Commercial crude inventories fell by 6.2 million barrels, while gasoline stockpiles declined by 3.2 million barrels. However, both remain near historically high levels, according to the U.S. Department of Energy. The only sizable buildup came...
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Nigeria sues over $12 billion in ‘illegal’ oil exports
LAGOS, Nigeria — Nigeria is suing several leading oil companies for $12.7 billion of crude oil that allegedly was exported illegally to the United States between 2011 and 2014, officials said Tuesday. The Federal High...
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Report: SEC investigates Exxon Mobil over accounting practices
The U.S. Securities and Exchange Commission is reportedly investigating Exxon Mobil’s accounting practices around climate change and the drastic fall in oil prices since 2014. The Wall Street Journal, citing anonymous sources, reported Tuesday that...
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InterOil founder abandons fight to derail Exxon’s takeover
InterOil Corp. founder and ex-CEO Phil Mulacek said most of the natural gas explorer’s shareholders will vote in favor of Exxon Mobil’s acquisition on Wednesday, despite his two-month campaign to hold out for a better...
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Market Currents: Topsy-turvy U.S. gasoline balance
One hundred and thirty-one years after the birth of the mighty Jelly Roll Morton, the crude complex has got the blues once more. Prices are moving lower today, led by gasoline as the Colonial pipeline...
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