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General Electric Co is buying oilfield pump maker Lufkin Industries Inc for $2.98 billion, sharply increasing its presence in the fast-growing market to extract oil and natural gas from shale rock, the conglomerate said on Monday.
Rosneft is seeking to borrow up to $30 billion from China in exchange for possibly doubling oil supplies, making Beijing the largest consumer of Russian oil and further diverting supplies away from Europe.
China's top offshore oil producer CNOOC Ltd has entered into an agreement to buy Canada's Nexen Inc for about $15.1 billion, the Chinese company said on Monday.
A Baltimore County jury has ordered Exxon Mobil to pay more than $1.5 billion in damages involving an underground gasoline leak at a rural Maryland gasoline station.
Senh: Whoah, one gasoline leak can cost that much damage? These oil companies make so much money anyway, so I'm sure they can afford it.