U.S. pipeline regulators gave British oil company BP permission Aug. 11 to maintain approximately one quarter of its oil, 100,000 barrels per day, flowing from Prudhoe Bay in Alaska. Oil flow out of Prudhoe Bay was suspended due to severe corrosion in the pipeline.
BP PLC (BP) purchased a large supply of crude oil from the open market in recent days to feed its West Coast refineries, in a sign that the world has adequate stores of oil despite the shutdown Sunday of the giant Prudhoe Bay oil field in Alaska BP also said it isn''t declaring force majeure on deliveries of oil, because its portion of crude from the field goes primarily to its own refineries in
BP PLC (BP) said Thursday it's currently producing 120,000 barrels a day of crude oil at its Prudhoe Bay field in Alaska after completing the shutdown of the eastern operating area.
SEOUL, Aug 14 (Reuters) - Seoul shares were headed for their first gain in three sessions on Monday, led by lenders such as Kookmin Bank and other under-performers recovering from recent losses, while firms reporting solid earnings such as S-Oil also gained.
The state of Alaska is exploring whether it can hold BP accountable for tax and royalty losses of $6.4m a day related to the Prudhoe Bay oilfield shutdown.
Gold futures reversed early gains to trade lower Thursday, after news of a terror plot against air flights from the U.K. to the U.S. sent oil futures sharply lower, and the U.S. dollar higher. Gold for December delivery was last trading down $14 at $648 an ounce on the New York Mercantile Exchange.
Gold futures closed sharply lower Thursday, dragged down by a steep selloff in the oil market and dollar strength after the U.K. authorities apparently thwarted an attempt to blow up airplanes traveling from Britain to the U.S. "With oil dropping over a dollar a barrel and the U.S. dollar rallying after recent steep losses, gold did not have the buying interest to find its way past the supply as
Target Corp. turned in a 13% increase in second-quarter earnings, but the retailer said Thursday it faced several challenges as far as the rest of the year goes, including an increase expected in delinquent credit-card accounts.
BROOKSVILLE — The gas pump cut off Tim Psimer’s credit card at $75, but his tank still wasn’t full. Standing beside his Ford F-150 Wednesday afternoon, Psimer had to laugh.