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ExxonMobil profit plunges 58 percent
US oil giant ExxonMobil said Thursday its first-quarter earnings plunged a steeper-than-expected 58 percent from the same period last year to 4.55 billion dollars amid global economic contraction.
Topix.net

Unknown internet 4: Did the credit crunch hit the web?
Real-estate prices crashing, a big drop in growth, the threat of infrastructure collapse, and authorities printing more money to stave off disaster - and that's just the online world
NewScientist.com

Imperial Oil expects Kearl oilsands decision by end of Q2, CEO Bruce March says
The head of Imperial Oil Ltd. hinted at an 'exciting' announcement in coming weeks about its multibillion Kearl oilsands project, one of only a few to press ahead in the current economic doldrums.
Topix.net

Colorado rig count down 5; US total falls by 10
The number of working oil and gas rigs in Colorado is down five from last week, according to a Houston company that keeps nationwide counts.
Topix.net

Energy Partners Files For Chapter 11 Bankruptcy In Texas Court
Energy Partners Limited (Energy Partners), an oil and natural gas exploration and production company, and its domestic subsidiaries have filed voluntary petitions for reorganization (the chapter 11 cases) under chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court for the Southern District of Texas, Houston Division.
Energy-business-review.com

NDRC To Eliminate One Million Tone And Below Refining Facilities By 2010
The National Development and Reform Commission (NDRC) Of China said that the country plans to remove low-efficiency and poor-quality oil refining facilities of an annual refining capacity of one million tons and below by 2010. NDRC has formulated a new plan on removing backward production capacity as a key effort to increase the economy and adjust the industrial structure.
Energy-business-review.com

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