Petroleum
Natural gas and oil futures prices increased significantly on January 24, 1994, amidst expectations of a large replenishment of gas reservoirs and oil tanks to meet high demand. The prices surged due to worries that heating oil tanks and gas reservoirs would need to be refilled rapidly to meet last
Petroleum
As investors deliberate on the financial health of Pennzoil Co, a prominent analyst has expressed concern about the oil company's potential financial situation. The Internal Revenue Service (IRS) has billed the company for nearly $1 billion in back taxes and interest penalties, citing an overturned $2.2 billion
Petroleum
A severe cold snap over the Midwest has caused a dramatic increase in heating oil and natural gas prices, with the price of February No. 2 heating oil futures reaching 51.26 cents per gallon, the highest level since late November. The surge in prices was driven by a 2.
Petroleum
Crude petroleum futures took a significant hit on January 10, 1994, as the market turned bearish on rumors that the Organization of Petroleum Exporting Countries (OPEC) would not move up its March 25th ministerial meeting. This development was a stark contrast to the market's optimism earlier in the
Petroleum
Petroleum prices skyrocketed above $15 per barrel (bbl) on January 5, 1993, marking the first time in three weeks that prices had reached this level. The surge is attributed to anticipation of a projected meeting of the Organization of Petroleum Exporting Countries (OPEC) to review oil production quotas. As a
Petroleum
Devon Energy Corp. has announced plans to acquire Alta Energy Corp. in its third major acquisition in the past 18 months, marking a strategic fit for the company. The deal, valued at approximately $1.6 million, is expected to be mostly tax-free. Devon Energy will acquire Alta's interests
