A new study from consultants Wood Mackenzie finds consolidation in the energy industry tends to boost shareholder value rather than diminish it.
The report analyzed the strategy used and value created in deals completed by 38 companies between 2001 and 2006. The companies included major oil companies, independents, Asian national companies and Russian players.
The 195 transactions [...]

Independent oil and gas producer Anadarko Petroleum Corp. says it will stick with its production outlook for the year, despite delays in the repair of a natural gas pipeline.
The company still expects to produce 207 million to 212 million barrels of oil equivalent for the year. In 2007, the company reported total sales from retained [...]

Calgary, Alberta-based EnCana Corp. plans to divide itself in two, creating a pure-play natural gas company and an integrated oil company with oilsands properties and refineries.
The natural gas company will focus on EnCana’s unconventional natural gas resource plays in the western U.S., Alberta and British Columbia. Chief Executive Randy Eresman will run that company.
The oil [...]

The price of crude oil struck a record high 126.40 dollars a barrel on Monday amid tensions in the Middle East and ongoing supply fears in Nigeria, traders said.
New York crude beat its all-time peak of 126.27 dollars, reached last Friday.
Later Monday, New York’s main oil futures contract, light sweet crude for June delivery, stood [...]

Brazil’s government is considering ending a state monopoly on uranium mining, Dilma Rousseff, the chief of staff of President Luiz Inacio Lula da Silva is quoted as saying in the O Globo newspaper Thursday.
Private companies have already shown interest to explore Brazilian uranium deposits, among the mining giant Cia. Vale do Rio Doce (RIO), or [...]

Several major oil companies agreed to a multimillion dollar deal to settle lawsuits surrounding their use of the gasoline additive MTBE, a potential carcinogen that has been found in drinking water.
Companies including BP PLC’s BP America Inc., Chevron Corp., ConocoPhillips, Royal Dutch Shell PLC’s Shell Oil Co., Marathon Oil Corp. and Valero Energy Corp. agreed [...]

Anadarko Petroleum Corp. shares hit a new all-time high after the independent oil and gas producer reaffirmed its 2008 production target.
The Houston company said it expects to produce the equivalent of 207 million and 212 million barrels of oil this year. Anadarko has said it expects to grow annual production of 5 to 9 percent [...]

Geneva Resources, Inc.’s Board of Directors (the “Board”) have accepted the consent of Bertrand Taquet as a member of the Board of Directors of the Company effective April 28, 2008.
Bertrand Taquet has over twenty-five years of experience as an exploration geologist, having worked for multiple companies in areas of precious metal mining and exploration and [...]

The outcome of annual iron ore contract price negotiations between Australian suppliers and Chinese buyers must be decided by market forces, Australian Trade Minister Simon Crean said Saturday.
China wanted the status of a market economy, which Australia previously formally recognized during trade negotiations, so it must recognize that the market will determine prices, he said.
“No [...]