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Yahoo! News: Business - Energy & Oil Industry
Business - Energy & Oil Industry

Oil below $80 ahead of Fed, OPEC meetings (AP)
AP - Oil prices extended losses below $80 a barrel Tuesday in Asia as investors eyed meetings of the U.S. central bank and OPEC for trading catalysts.
Kuwait says OPEC consensus to keep output unchanged (Reuters)
Reuters - There is a consensus among OPEC members to keep output unchanged, and no change is expected at Wednesday's meeting in Vienna, Kuwait's oil minister Sheikh Ahmad al-Abdullah al-Sabah said on Tuesday.
Venezuela in oil deal with Belarus (AFP)
AFP - Venezuela will from May begin selling 80,000 barrels of oil a day to Belarus, President Hugo Chavez said after meeting his Belarussian counterpart.
OPEC members happy with oil output quota (AFP)
AFP - Key OPEC members on Monday said there was no need for the cartel to change its official oil output target owing to the current supply, demand and price situation amid a world economic recovery.
Canadian dollar ends 11-day run higher, bonds firm (Reuters)
Reuters - The Canadian dollar tipped lower against the U.S. currency on Monday as easing oil prices and lower stock markets caused investors to pause for the first time after an 11-day stretch of gains.
Oil prices slump ahead of OPEC talks (AFP)
AFP - Oil prices slumped Monday amid a rising US dollar and concerns over energy demand as traders eyed the OPEC cartel's output meeting this week.
Nigeria militants set off bombs, step up threats (AP)
AP - Militants in Nigeria's oil-producing region detonated two car bombs Monday near a government building where officials were discussing an amnesty deal, showing their resolve to resume attacks after an agreement to bring peace and economic benefits to the area unraveled.
Toreador 4Q loss narrows as oil prices rebound (AP)
AP - French energy company Toreador Resources Corp. said Monday that its fourth-quarter loss narrowed to $5 million as rising oil prices partially offset falling production.
Consol Energy to buy Dominion's drilling business (AP)
AP - Consol Energy Inc. said Monday it agreed to buy Dominion Resources Inc.'s Appalachian exploration and production business for $3.475 billion, substantially increasing its natural gas reserves and production capacity.
OPEC has little wiggle room at upcoming meeting (AP)
AP - With U.S. demand for oil lackluster, even traditional OPEC price hawks like Iran and Venezuela are happy with present prices near $80 a barrel as they head into Tuesday's meeting of the 12-nation organization.
Iran calls on OPEC to hold output target steady (AP)
AP - Iran's oil minister said Monday that OPEC nations should not change their crude output targets at their upcoming meeting in Vienna.
Regulators accused of lax oversight at LA oilfield (AP)
AP - This sprawling metropolis is built atop one of the richest oil basins in the world. Wells dot the city landscape, some hidden behind hollow building facades much like a Hollywood movie set, or, in the case of Beverly Hills High School, encased in a tower painted with flowers.
Oil-Dri board approves additional share buy-backs (AP)
AP - Cat litter maker Oil-Dri Corp. of America said Friday its board approved the repurchase of 250,000 more shares and declared a quarterly dividend on common and Class B shares.
Oil companies to tap Missouri River water (AP)
AP - Oil companies will be able to tap more than 5 million gallons of Missouri River water daily for drilling operations under a pair of projects announced Friday by North Dakota Gov. John Hoeven.
US rig count increases by 11 (AP)
AP - The number of rigs actively exploring for oil and natural gas in the U.S. increased by 11 this week to 1,407.
2 electric utilities in Maine to merge (AP)
AP - Two of Maine's larger electric utilities would merge under an agreement announced Friday, creating a greater impetus for a north-south power transmission line for wind farms.
Sector Snap: Airline stocks mixed (AP)
AP - Airline stocks, which rallied strongly earlier this week, were mixed in Friday trading as oil prices surged, raising the prospect of higher costs for jet fuel.
Global oil demand seen higher in 2010 (AP)
AP - World oil demand will rise this year due to surging economic activity in Asian countries, especially China, the International Energy Agency said Friday as it bumped up its forecasts.
Asia stocks head for 5th straight week of gains (Reuters)
Reuters - Asian stocks edged up on Friday, heading for a fifth straight week of gains, with energy stocks outperforming as oil held above $82 a barrel.
Gas line explodes northeast of Oklahoma City (AP)
AP - A natural gas line explosion northeast of Oklahoma City sent flames into the air but caused little damage and no injuries.

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