Rosneft and Exxon discover Arctic oil

Russian energy giant Rosneft says it has discovered oil with its US project partner Exxon Mobil at a controversial well in the Arctic.

Gasoline prices begin summer slide

NEW YORK (AP) -- Gasoline prices are on a summer slide, giving U.S. drivers a break as they set out for the beach and other vacation spots for the Fourth of July.

Banks in the dark over $15 billion of promised Rosneft M&A business

LONDON/MOSCOW (Reuters) - Banks that helped Russian oil company Rosneft finance its $55 billion buyout of rival TNK-BP have been left waiting for their payback - a share in $15 billion in asset sales expected to follow the deal, sources familiar with matter said.

Liberia says to ink oil deal with Exxon, COPL

DAKAR (Reuters) - Liberia will sign off on a deal giving oil major Exxon Mobil and its partner Canadian Overseas Petroleum Limited rights to develop an offshore oil block, a presidential spokeswoman said on Friday.

Alaska to collect $255m for BP pipeline leaks

The US state of Alaska will collect $255m related to BP's pipeline leaks and a resulting shutdown in 2006 in the Prudhoe Bay oilfield, drawing a line under an accident that contributed to the British company's US troubles.

Rosneft to Buy TNK-BP in $55 Billion Deal

The Russian state-owned energy company Rosneft reached agreements on Monday worth a combined $55 billion that will give it control of TNK-BP, a joint venture parted owned by the British energy giant BP.

Iraq blacklists Chevron for Kurdish oil deals

BAGHDAD (Reuters) - Iraq hit out at Chevron Corp over its just-signed oil contract with Kurdistan, barring it from any oil agreements with the central government in a move meant to deter other companies from dealing directly with the semi-autonomous northern region.

Russia probes BP venture on behalf of Rosneft

Russia's anti-monopoly service said Wednesday it was probing the British energy group BP's crisis-torn local joint venture TNK-BP on request from the state oil giant Rosneft.

Exxon profits rise on oil prices

The the world's largest oil company, Exxon Mobil, has seen its profits rise due to the higher oil price, despite producing less oil.

Exxon profits up on higher oil prices

US oil giant Exxon Mobil has reported a rise in quarterly profits on the back of higher oil prices.

The company said that net profit rose to $10.7bn (£6.6bn) for the three months to June, up 41% from the same period last year.

The profit was its largest since the third quarter of 2008. The firm said production had risen by 10%.