Oilfield services company Hornbeck Offshore Services Inc. may sell all or part of its stake in its downstream tug and tank barge unit.
The company hired JP Morgan Securities Inc. to help it assess various options for the division, which may include a possible sale, adding to the business through acquisitions or consolidation and other possible [...]

Oil prices have plunged Monday at least temporarily retreat to record levels, investors were concerned that the financial crisis that forced the sale of Bear Stearns is a sign of deep economic difficulties.
Oil slump - falling $ US4.53 to settle at $ US105.68 barrel on the New York Mercantile Exchange - came hours after futures [...]

A 32-year-old Ukrainian oligarch is planning to launch his $2bn (£1.01bn) iron ore mining group on London’s main market next month. The flotation will be the first full UK listing for a company from the former Soviet republic.
Konstantin Zhevago plans to raise around $500bn by selling a quarter of his holding in Ferrexpo, a mining [...]

Alcan Inc. announced that its Board of Directors unanimously recommends shareholders reject Alcoa Inc.’s (NYSE: AA) unsolicited offer to acquire Alcan. The Board determined that the offer is inadequate in multiple respects and is contrary to the best interests of Alcan’s shareholders. Accordingly, the Board recommends that Alcan shareholders not tender any of their shares [...]

Oil and gas exploration and production company Gasco Energy Inc. said Thursday its bank group agreed to increase the company’s borrowing capacity to $37 million under its $250 million revolving line of credit.
The borrowing base previously was $25 million.
Under the agreement with the JP Morgan-led banking group, the borrowing base will be evaluated semiannually.
The company [...]

Chinese coal exports in January fell by nearly half to 3.29 million tonnes from December amid talk of exporters backing out of foreign sales contracts due to the commodity’s record price at home and tax changes.
Preliminary customs data showed January coal exports fell by 44.2 percent from 5.90 million tonnes in December and by 20.4 [...]

Copper and other key industrial metals prices were firm on the London Metal Exchange on Friday as traders assessed the likelihood of fresh Chinese buying.
“We’ve seen copper correcting then holding at a level, but our view is that there will be Chinese buying after their New Year holidays,” a fund manager said.
Copper ended the day [...]

Oil and gas explorer Occidental Petroleum Corp. said Tuesday it began a cash tender offer for $1.09 billion of its debt securities.
The securities include Occidental Petroleum’s 10.125 percent senior debentures due 2009, 9.25 percent senior debentures due 2019, 8.75 percent senior notes due 2023, 7.2 percent senior debentures due 2028 and 8.45 percent senior notes [...]

Shares of coal mining stocks rose Tuesday as investors smelled a bargain and production cuts hinted at lightening of the current supply and demand imbalance.
Shares of Consol Energy Inc. climbed $2.11, or 7 percent, to close at $32.49 on the New York Stock Exchange. Also on the NYSE, Massey Energy Co. gained $2, or 9.6 [...]

Gold eased to trade around $650 an ounce on Thursday after a failed attempt to breach six-week highs, with the metal trapped by bargain-hunters and profit-takers in the absence of clear market direction.
But prices remained higher from the previous close in the U.S. market as high oil prices, increased tension in the Middle East and [...]