Wall Street ended higher on Tuesday trading session as energy stocks rallied helped by increasing crude prices. The US crude prices reached its new height in 2016.
Nigeria is suffering from fuel shortages as well as lack of hard currency. Four major oil companies agreed to finance the country’s $200 million fuel import along with the lack of the dollars to sustain the country’s fuel needs.
Exxon Mobil Corp may lose credit rating from Moody's Investors Service. Moody's on Thursday lowered its outlook for Exxon from stable to negative. Exxon is suffering from cash flows in the wake of continuous drop in oil prices.
The United States court finally comes out with the verdict regarding Exxon Mobil Corp oil spill in 2013. The fine was issued by the U.S. pipeline safety office ordering the oil giant to pay a total of $2.63 million for spilling the crude oil in Arkansas residential Area.
An explosion and fire ripped through a gasoline processing unit at an Exxon Mobil Corp refinery near Los Angeles on Wednesday, leaving California with the threat of higher gasoline prices.
Exxon Mobil Corp said on Monday its quarterly profit fell 21 percent as weak oil prices took a toll, but results topped Wall Street expectations due to a tax adjustment and higher earnings from its chemicals business.
Union workers were on strike for a second day on Monday at nine U.S. refineries and chemical plants in an attempt to force oil companies to sign a new national contract covering laborers at 63 plants.
Union leaders and oil companies were unable to agree on a new labor accord on Saturday for workers at 63 U.S. refineries as a deadline passed that could lead to a strike.
Union and oil company negotiators began talks on Wednesday for a new nationwide contract covering hourly workers at 63 U.S. refineries that account for 64 percent of national refining capacity, according to a union spokeswoman.
A small but heavily subscribed pipeline that transports 42,000 barrels a day of crude oil from North Dakota's Bakken region is expected to remain closed on Tuesday after a weekend breach that spilled 1,200 barrels of crude into the Yellowstone River near Glendive, Montana.
U.S. stocks rebounded on Wednesday from five straight sessions of losses after strong private sector jobs data and as minutes from the most recent Federal Reserve meeting reassured investors the bank was in no hurry to start raising interest rates.
The allure of investing in Mexico's historic oil sector opening has been dimmed by the plummeting price of crude, putting pressure on the government to offer bigger incentives to private investors in the first major round of contracts up for grabs.
U.S. stocks fell on Friday as energy shares extended their recent slide, while rising bond yields drove down high-dividend paying shares. Major indexes finished lower after five straight weeks of gains.
Venezuela's state-run oil company PDVSA [PDVSA.UL] is seeking preliminary offers for its U.S. unit Citgo Petroleum Corp [PDVSAC.UL] by the end of September, a deal that could fetch up to $10 billion, according to two people familiar with the matter.
While incumbent California Governor Jerry Brown has not expressed his plans to run again, donors like Exxon Mobile, Facebook Inc and Microsoft Corp have contributed to his campaign chest, Bloomberg reported.