Thursday, January 06, 2005
Oil News 1-5-05
ConocoPhillips dropped out of a nonprofit group lobbying the U.S. government to open the Arctic National Wildlife Refuge in Alaska to oil exploration.
ConocoPhillips said in a statement that it left Arctic Power, an Anchorage-based group formed in 1992, and will focus on other projects in the state, which accounts for 30 percent of its oil production. The refuge is sometimes referred to by its acronym, ANWR.
Oil Futures: Crude oil futures prices fell Wednesday after the U.S. government reported larger-than-expected increases in winter fuel supplies, sending heating oil prices tumbling.
Light sweet crude for February delivery dipped 52 cents to settle at $43.39 per barrel on the New York Mercantile Exchange, where heating oil futures fell 2.82 cents to $1.2184 per gallon. Brent crude was down 53 cents at $40.51 a barrel on London's International Petroleum Exchange.
Bonds of Halliburton Co. may gain after reaching a $4.7 billion settlement of asbestos-damage claims, allowing two units to emerge from bankruptcy.
ConocoPhillips said in a statement that it left Arctic Power, an Anchorage-based group formed in 1992, and will focus on other projects in the state, which accounts for 30 percent of its oil production. The refuge is sometimes referred to by its acronym, ANWR.
Oil Futures: Crude oil futures prices fell Wednesday after the U.S. government reported larger-than-expected increases in winter fuel supplies, sending heating oil prices tumbling.
Light sweet crude for February delivery dipped 52 cents to settle at $43.39 per barrel on the New York Mercantile Exchange, where heating oil futures fell 2.82 cents to $1.2184 per gallon. Brent crude was down 53 cents at $40.51 a barrel on London's International Petroleum Exchange.
Bonds of Halliburton Co. may gain after reaching a $4.7 billion settlement of asbestos-damage claims, allowing two units to emerge from bankruptcy.
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