Allis-Chalmers Energy Inc. announced that it has entered into a definitive agreement to purchase substantially all the assets of Oil & Gas Rental Services, Inc., a Louisiana based corporation that provides rental tools to both offshore and onshore exploration and production companies. The consideration for the acquisition of the assets will consist of cash [...]

Oil and gas refining and marketing firm Singapore Petroleum Co. Ltd. (SPC) posted a 78.3 percent fall in third-quarter net profit on Wednesday due to a sharp drop in refining margins at its sole refinery.
SPC said in a statement that it had achieved an average refining margin of approximately US$4 per barrel for the third [...]

Oil and gas refining and marketing firm Singapore Petroleum Co. Ltd. (SPC) posted a 78.3 percent fall in third-quarter net profit on Wednesday due to a sharp drop in refining margins at its sole refinery.
SPC said in a statement that it had achieved an average refining margin of approximately US$4 per barrel for the third [...]

Gold found support from renewed concerns about inflation as oil prices continued to gain lost ground and as the dollar drifted lower in the wake of the Fed’s decision to keep interest rates unchanged.
“The combination of firmer oil/weaker dollar and the reiteration of inflation risk in the Fed’s statement have given gold a lift,” said [...]

European energy stocks, the worst- performing shares in the past three months, gained after crude prices rebounded. BP Plc and Royal Dutch Shell Plc, the region’s largest oil companies, paced the advance.
“We are still positive on oil stocks despite the recent correction in the oil price,” said Sergi Martin, who helps oversees $5.3 billion at [...]

Occidental Petroleum Corporation announced core earnings for the third quarter 2006 were $1.159 billion ($1.35 per diluted share), compared with $1.004 billion ($1.22 per diluted share) for the same period in 2005. See the attached schedule for a reconciliation of net income to core earnings.
Net income for the third quarter 2006 was $1.168 billion ($1.36 [...]

Oil and gas producer Occidental Petroleum Corp. said Wednesday its third-quarter earnings fell 33 percent from year-ago results that included hefty one-time gains.
The latest results were just above Wall Street estimates, however.
“Sharply higher crude oil prices and a strong performance from our chemicals business were key drivers in our financial performance in the quarter,” said [...]

The Bush administration, bowing to pressure from environmental groups, has offered to scale back a plan to expand oil and natural gas drilling on Alaska’s North Slope.
The U.S. Interior Department yesterday asked a court in Anchorage to allow the planned Sept. 27 sale of about 8 million acres in the National Petroleum Reserve to go [...]

European energy and mining stocks, the region’s worst performers this quarter, rebounded as oil rose for a second day and copper gained for the first time in four days.
BP Plc, Europe’s second-biggest oil producer by market value, and BHP Billiton, the world’s largest mining company, paced gains.
“We are very positive on energy stocks,” said Mariano [...]

Nickel prices rose more than 5 per cent on Thursday on low inventories and tight supplies on a day when copper prices also rose in spite of an expected settlement of the near month-long strike at the world’s largest copper mine in Chile.
The three-month nickel price rose to $28,750 a tonne on the London Metal [...]