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The collapse in oil prices to 21-year lows has led potential buyers of oil and gas fields to try and renegotiate deals already agreed at higher prices, with the first examples emerging of sellers ...
The U.S. Supreme Court declined on Monday to hear a bid by Sunoco and other oil companies to scuttle a lawsuit by Honolulu accusing them of misleading the public for decades about the dangers of ...
House Democrats on Wednesday accused oil companies of "ripping off the American people” and putting profits before production as Americans suffer from ever-increasing gasoline prices amid the ...
Countertrade also occurs when countries lack sufficient hard currency, or when other types of market trade are impossible.. In 2000, India and Iraq agreed on an "oil for wheat and rice" barter deal, subject to United Nations approval under Article 50 of the UN Persian Gulf War sanctions, that would facilitate 300,000 barrels of oil delivered daily to India at a price of $6.85 a barrel while ...
George W. Bush ran an energy company called Spectrum 7 during the 1980s. In the mid-1980s the oil market was in a slump, with prices dropping daily. The firm was in financial trouble until another company, a distressed oil properties specialist, Harken Energy, purchased Spectrum 7 in 1986. Part of the attraction for Harken's management to ...
The appetite for oil and gas has only grown over the last year as US oil production hit new highs after Russia's invasion of Ukraine temporarily sent prices past $130 a barrel in 2022. ExxonMobil ...
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Iraqi officials on Thursday defended a deal inked this week to barter oil for gas with Iran, saying that the deal does not violate U.S. sanctions on Tehran and that it will help alleviate a ...