Petroleum
Leviathan Gas Pipeline Partners, a publicly owned limited partnership, has finalized a deal with Tatham Offshore, Inc. for the purchase and development of three properties in the Gulf of Mexico. The transaction involves the transfer of a 100% working interest in the Phar Lap Shallow, Spectacular Bid, and Spend A
Petroleum
Williams Field Services Group has acquired the natural gas gathering and processing assets of Gas Company of New Mexico, marking a significant expansion of the company's operations. The acquisition, valued at $155 million, will enable Williams Field Services to increase system efficiencies and provide additional marketing opportunities for
Petroleum
Market participants continued to digest the latest developments in the Middle East, including an ongoing oil workers' strike in Algeria and a coup in Qatar, as crude and product prices on the New York Mercantile Exchange (Nymex) showed a modest increase. The August crude contract settled at $17.77/
Petroleum
Gasoline prices dropped significantly in U.S. spot and futures trading, with July gasoline contracts on the New York Mercantile Exchange (Nymex) closing down 1.23 cents for the day and 4.60 cents for the week at 56.98 cents/gallon. The decline was attributed to various factors, including
Petroleum
Crude oil prices plummeted to four-month lows on the New York Mercantile Exchange (Nymex) as the OPEC meeting drew to a close in Vienna, Austria. The July crude contract fell to $17.90/bbl, its lowest level since February 3, before bouncing back as the meeting concluded. Despite the initial
Petroleum
The Organization of Petroleum Exporting Countries (OPEC) is facing mounting pressure to reconsider its production quotas as crude oil prices plummet following remarks by OPEC President Erwin Arrieta. Arrieta's suggestion that the organization might lift its quotas in 1996 sent oil markets reeling, with crude oil prices dropping
Petroleum
The ongoing strike threat from unionized Brazilian oil workers against Petroleo Brasileiro S.A. (Petrobras) has created uncertainty in the global energy market, leading to increased crude oil and oil product prices. The July crude oil contract on the New York Mercantile Exchange (Nymex) settled up 6 cents at $18.
Petroleum
Crude futures prices slid on Friday, July 18, pulled down by the expiration of the July crude options contract. Despite hitting a daily low of $18.55, July crude prices on the New York Mercantile Exchange (Nymex) recovered to settle down 11 cents at $18.80 per barrel. The cash
Petroleum
Anticipation of bearish inventory statistics led to a softening of crude and product prices on the New York Mercantile Exchange (Nymex) on Tuesday. The July crude futures contract dipped to $18.94/bbl before climbing back to settle at $19.06, down 19 cents from Monday. Gasoline prices also fell,
Petroleum
Castle Energy Corp. has agreed to sell its 86,000 b/d Illinois refinery to a new company, Core Refining Corp., formed by Castle President William S. Sudhaus with backing from private investors, including those from Saudi Arabia and Dubai. The sale price is approximately $23 million, plus certain capital
Petroleum
Castle Energy Corp., a Radnor, Pa.-based oil and gas company, has entered into an agreement to sell its 86,000 barrels per day (B/D) Indian Refinery to CORE Refining Corp., a company formed by William S. Sudhaus, a director and the president of Castle Energy. The sale, which
Petroleum
Prices of gasoline and crude petroleum on the New York Mercantile Exchange fell on May 23, 1995, although analysts remain certain that prices will firm. The July futures contract for crude oil fell to $19.77 per barrel, a $0.07 drop, while June gasoline contracts fell to 66.15
