Chevron 2Q earns fall 71 pct as energy demand falls; natural gas drilling in US shut downNEW YORK — Chevron on Friday said that its second-quarter profits fell 71 percent and the second-largest U.S. oil company put its entire land-based natural gas drilling operation on hold, citing dismal demand. Volatility in energy markets sends crude prices surging 5 percent; prices top $66NEW YORK — Oil prices surged above $66 a barrel Thursday, rising in lockstep with major global indexes in what has become a very volatile week for energy markets. India looks for gas in distant Papua New GuineaIndo-ASIAN NEWS SERVICE NEW DELHI - Papua New Guinea, a sprawling Pacific Ocean nation of just six million people speaking 850 languages, is inviting India to develop its hydrocarbon resources after the islands struck gas two years ago. It is also keen to forge ties with New Delhi after courting Beijing all these years. Iraq kicks off landmark oil licensing round, opening fields to foreign firmsBAGHDAD — Iraq opened up some of its massive oil and gas fields to foreign firms on Tuesday, kicking off a landmark licensing round it hopes will help fuel its postwar reconstruction efforts. Exxon says it won’t appeal, will pay $470M interest on Valdez oil spill punitive damagesANCHORAGE, Alaska — Oil giant Exxon Mobil Corp. has decided not to appeal hundreds of millions of dollars in interest on punitive damages resulting from the 1989 Exxon Valdez oil spill. Sensex builds on early gains, moves up 121 points (Lead)MUMBAI - Indian equities markets built on morning gains about an hour after opening bell Friday, with a key index moving up 121 points. Investors push stocks higher, relieved by better-than-expected jobs data, stress test resultsNEW YORK — Stocks soared Friday as Wall Street cheered the positive news it had been hoping for: Job losses slowed in April and big banks don’t need as much capital as some had feared. Stock market finishes mixed after Chrysler bankruptcy offsets economic optimismNEW YORK — Chrysler’s bankruptcy put only a small dent in Wall Street’s rally. Kazakhstan increases stake in key oil pipeline, boosts potential export capacityALMATY, Kazakhstan — Kazakh state oil company KazMunaiGaz struck a deal Thursday that will significantly boost its access to the Caspian Pipeline Consortium, the only oil pipeline on Russian territory not controlled by the Russian government. Investors likely to remain on edge this week as they await earnings, government help to banksCHARLOTTE, N.C. — The wait for news about the government’s stress tests of big banks and a crush of earnings reports are likely to keep Wall Street on edge this week. US stocks lift as auto, oil shares riseNEW YORK - US stocks lifted across the board Friday, pulled up by automobile and oil shares and defying gloomy retail reports. |
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