News
Troubled oil field service company McDermott lands $1.7 billion in new financing
Roughly a month after its stock plummeted in value by 75 percent, Houston oil field service company McDermott International has landed $1.7 billion in new capital. Source: FuelFix
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Stockholders approve merger of two Houston oil field service companies
Stockholders voted to approve the $1.8 billion merger two Houston oil field service companies — creating a new company with projected annual revenues of $4 billion. Source: FuelFix
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Oil falls amid swelling stockpiles, Russia caution on supply cut
Oil fell as Russia sounded a cautious note on whether OPEC and its partners may cut production further, while industry data showed U.S. crude inventories were expanding. Source: FuelFix
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Oil companies rejected by Supreme Court on climate change suits
The U.S. Supreme Court let government officials press ahead with three lawsuits that accuse more than a dozen oil and gas companies of contributing to climate change. Source: FuelFix
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Exxon blasts N.Y.’s climate suit as trial opens amid protests
Exxon Mobil Corp.’s lawyer slammed New York’s securities-fraud case as the trial opened, saying the state “twisted” reality by conflating two internal metrics the company uses to account for the financial impact of climate change...
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