Energy Markets

7. ExxonMobil: Exploration works will go on

KUALA LUMPUR: ExxonMobil Corp will continue with its exploration plans amid slumping worldwide demand for oil. Senior vice-president Mark W. Albers said the company’s near-term plans “remained unchanged”. “We did not increase...

Could Alternative Fuel Tank? (at Minyanville.com)

As leveraged assets go down in value, the leverage multiples go up. Good news at the pump probably means bad news for venture capitalists and future development of alternative energy sources. Merrill Lynch says the price of...

GLOBAL MARKETS-U.S. stocks, oil prices slide on economic worry (at Reuters)

Oil falls below $44, lowest level since February 2005 * Stocks slide as economic data flags tough times ahead * U.S. government debt rallies in face of big job losses (Recasts with U.S. markets, adds byline; changes dateline;...

News Minute: Senators resist...Stocks fall...Charges in Uzi shooting

Associated Press - December 4, 2008 4:03 PM ET WASHINGTON (AP) - They've driven hundreds of miles, but they may have nothing to show for it. The CEOs of the Big Three U.S. automakers are still running into a lot of skepticism...

News Minute: Carmakers grilled...Crude/gas prices slip...Iraq agreement

Associated Press - December 4, 2008 6:53 PM ET WASHINGTON (AP) - General Motors head Rick Wagoner is optimistic that a deal can be reached in Congress to help his company survive a critical cash shortage. Wagoner and the CEOs...

Recession Clouds Chances for EU Climate Treaty

By LEILA ABBOUD PARIS -- Poland has opposed an EU climate pact because, it argues, the rules will cause huge increases in electricity prices and potentially cripple its economy. French President Nicolas Sarkozy is scheduled to...

Oil drop and Schlumberger warning hits energy stocks

SAN FRANCISCO (Reuters) - U.S. energy stocks took another beating on Thursday as oil and natural gas prices tumbled and analysts reeled in expectations for next year after a warning from the world's largest oil services company.

Qatar to cut January crude supplies by 5%

Qatar, one of Opec's smallest oil producers, told at least three Asian lifters it will cut crude supplies for January by 5 per cent, sources said yesterday after Kuwait and the UAE pledged to boost term sales.

Qatar: Low oil prices will affect supply

Qatar's Energy Minister Abdullah Bin Hamad Al Attiyah stated that the world will face a crude supply shock if oil prices remain below $70 per barrel, Gulf News reported His comments at a petrochemicals industry conference in...

Stocks move lower on retail, energy weakness

Automakers plead with Congress to help them avoid bankruptcy. Retailers' sales sag, but their stocks jump. The Bank of England and the European Central Bank cut interest rates. Toyota closes a plant in Japan. Merck lowers...