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Talks between Iraq and BP are ongoing for a short-term oil service contract, a senior BP executive said on Wednesday, after a U.S. diplomat in Baghdad cast doubt on such deals earlier this week.

Iraq and Lebanon agreed to sign agreements soon in different fields during the visit of Lebanese Prime Minister to Baghdad on Wednesday. In a televised news conference, the Iraqi Prime Minister Nuri al-Mal

The price for crude oil produced by OPEC fell slightly on Tuesday, to $108.26 a barrel, data released by OPEC showed on Wednesday.

Crude oil prices rose Wednesday to about $115 per barrel on the New York Mercantile Exchange, following Tuesday's gain prompted by the depreciating U.S. dollar.

Artumus issued an exploration and operational update for its assets in Mozambique and Tanzania, specifically highlighting seismic activity in these blocks.

Revenues from Brazil's recently discovered pre-salt oil reserves will remain with the government and will be used to bolster public finances, Brazilian Finance Minister Guido Mantega said Wednesday.

Chevron Canada and its co-venturers have finalized legal agreements with the government of Newfoundland and Labrador to develop the Hebron heavy oil project offshore the east coast of Canada.

Secretary of the Interior Dirk Kempthorne announced that the Western Gulf of Mexico Oil and Gas Lease Sale 207, held today in New Orleans, attracted $487,297,676 in high bids. The sum of all bids received totaled $607,134,968.

Boosted by strong laptop and international sales, Hewlett-Packard Co. on Tuesday reported third-quarter net income of $2 billion, or 80 cents a share, up from $1.8 billion, or 66 cents a share in the same period last year. (HPQ)

U.S. Steel Corp.’s 16,000 union workers are receiving a record $4,464 in profit sharing for the second quarter. (X)