Highlights
A collection of news and information related to Petroleum Industry published by Tribune Company sources.
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Oil rises to above $42 in Asia as Israeli conflict in Gaza threatens to spread to Lebanon
Associated Press WriterSINGAPORE (AP) — Oil prices rose to above $42 a barrel Friday in Asia as traders speculated that a second front is opening in Israel's Gaza offensive, but analysts said gains would likely be limited by continuing weakness in demand for crude....Tags: Macy's, New York Mercantile Exchange, Ayatollah Ali Khamenei, Earnings Forecasts, Economy
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Chamber to Congress: drill, baby, drill
The SwampBy Jim Tankersley The U.S. Chamber of Commerce will urge Congress this morning to invest heavily in so-called "clean coal" research, to expand incentives for nuclear energy and renewable fuels, and to keep its hands off domestic oil and gas......Tags: Global Warming, Natural Resources, U.S. Environmental Protection Agency, Energy Resources, Land Resources
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Ecuador inflation 8.8 percent in 2008; highest in 6 years
QUITO, Ecuador (AP) — Ecuador says inflation more than doubled in 2008 to a six-year high of 8.8 percent. The country's Statistics and Census Institute says inflation on the year was up from 3.3 percent in 2007, in part due to high international...Tags: Inflation and Deflation, Economic Policy
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Meltdown 101: What do gloomy December same-store sales mean for the future of retailers?
AP Retail WriterNEW YORK (AP) — Retailers confirmed fears that the dismal holiday shopping season was the worst in decades when they reported December same-store sales — a figure the retail sector relies on to periodically take its own temperature. What...Tags: Macy's, Real Estate Sales, Bankruptcy, Inventories, Weather Reports
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Wal-Mart's December same-store sales fall short of analyst expectations, retailer cuts outlook
AP Retail WriterNEW YORK (AP) — Wal-Mart Stores Inc. said Thursday that its December sales at established stores edged upward, but the gain was less than analysts expected and the discounter cut its earnings forecast for the rest of its fiscal year. The world's...Tags: Real Estate Sales, Holidays, Wal-Mart Stores Inc., Bars and Clubs, Dining and Drinking
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Considering bailing out of a mutual fund after dreary 2008? First, do your homework
AP Personal Finance WriterBOSTON (AP) — Fiscal fitness is knocking weight loss off the top of many New Year's resolution lists, thanks to 2008's market drubbing. That often means casting off last year's worst-performing mutual funds for more promising alternatives. Though a...Tags: Personal Finance, Energy Saving, Mutual Funds, Investments, Commodity Markets
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Retailers report dismal December sales
The Associated PressDismal sales figures for the holiday shopping season are probably a sign of worse to come for merchants in 2009 -- not only more sharp discounts and cheaper groceries but probably fewer stores. Holiday spending was so anemic that even Wal-Mart didn't...Tags: Macy's, Real Estate Sales, Quarterly or Semiannual Financial Statements, Williams-Sonoma Incorporated, Abercrombie & Fitch Company
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Recession finally catches up to oil sector; Schlumberger, Halliburton announce job cuts
AP Energy WriterHOUSTON (AP) — Job cuts that have afflicted almost every sector of the economy reached into the oil industry Thursday, as the biggest oilfield service providers said they were cutting employees. Schlumberger Ltd., the world's largest oilfield...Tags: Unemployment, Schlumberger Limited, Energy Saving, Layoffs and Downsizing, Halliburton Company
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Analysis: Russia seems more interested in cash than politics in gas war with Ukraine
Associated Press WriterMOSCOW (AP) — Five months after Russia crushed the Georgian army in the foothills of the Caucasus, Moscow is once again embroiled in a conflict with a former Soviet neighbor: waging an economic war with Ukraine that has disrupted natural gas...Tags: Vladimir Putin, Natural Resources, Natural Gas, Government, Energy Saving
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Tens of thousands gather at Dolphins Stadium in anticipation of BCS title game
South Florida Sun-SentinelUnder sunny skies, and with rising anticipation, tens of thousands of fans gathered on the east side of Dolphins Stadium Thursday afternoon hours before the helmet-thumping showdown between the University of Florida and the University of Oklahoma for...Tags: University of Florida, Road Transportation, Gainesville, Colleges and Universities, Transportation
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Ex-executive of O.C. valve company pleads guilty to bribery charges
A former Orange County valve company executive pleaded guilty today to being involved in payments of approximately $1 million in bribes to numerous foreign government officials, the U.S. attorney's office announced. Mario Covino, 44, entered his plea...Tags: Trials, Punishment, Metal and Mineral, Employees, Accounting and Auditing
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Oil field services giant Schlumberger Ltd. to cut up to 1,000 jobs in North America
AP Energy WriterHOUSTON (AP) — Schlumberger Ltd., the world's largest oilfield services company, says it's eliminating up to 1,000 jobs in North America, or about 5 percent of its work force, and is looking at cuts elsewhere globally. Schlumberger and other...Tags: Schlumberger Limited, Halliburton Company
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