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.
Tags: Royal Dutch Shell Plc
Major Oil Companies Fund Nigeria's $200 Million Fuel Imports
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.
Shell Q4 earnings fall 44%; confirms job cuts
Royal Dutch Shell said that its profit for the fourth quarter dropped 44% as the price of the crude oil tumble. The UK-based oil firm also confirmed that it is trimming 10,000 jobs, a move to reduce its costs.
Major oil firms have biggest war chests for takeovers
The continuous oil price fall is one side of the coin. The other side is showing rosy picture as six major oil companies have more than enough funds to snap up competitors. It's estimated that world's top six listed oil companies have over $0.5 trillion in stocks and cash enough to fund takeovers plans. ExxonMobil lead the pack, while Chevron, BP Plc, Shell, ConocoPhillips and Total are in the top-six positions.
U.S. refinery strike affects one-fifth of national capacity
The largest U.S. refinery strike in 35 years entered its fourth week on Sunday as workers at 12 refineries accounting for one-fifth of national production capacity were walking picket lines.
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A senior official from Thailand's state-owned petroleum company PTT on Thursday denied a media report saying that it was bidding for Royal Dutch Shell's service stations in Australia. Shell is selling its 900 petrol stations and an oil refinery in the country for A$3 billion.
Petroleum companies Royal Dutch Shell and BP are reportedly looking to sell its oil refineries and petrol stations in Australia to generate cash for their energy production business segments. Chevron Corp. reportedly may follow suit and exit its service stations in the country.
Oil giant Royal Dutch Shell on Thursday announced that it has renewed an option to buy land in Monaca,Pennsylvania owned by metal-processing company Horsehead Holding Corp. Shell has a $2 billion ethylene plant building proposal for the said site.
The U.S. Justice Department is probing Morgan Stanley for its hiring practices in China. The move comes as U.S. authorities expand their investigation into whether banks' hiring of politically connected Chinese employees may have breached U.S. bribery laws.
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