HOUSTON (AP) -- Crude prices tumbled Wednesday following a string of economic reports that painted an ugly picture of the nation's economy, suggesting that demand for energy will continue to erode. Light, sweet crude for February delivery fell $3.63 to settle at $35.35 in a shortened day of trading. Prices fell as low as $35.13 just before the market closed for the holiday.
December 24th, 2008:
Oil prices near $35 on more dour economic news
Palin disappointed by Shell’s drilling decision
ANCHORAGE - Gov. Sarah Palin expressed her disappointment Dec. 18 in Shell Oil Company's decision to cancel drilling activities in the Outer Continental Shelf of Alaska's Beaufort Sea for 2009.
Gopec
Uralsib, a Moscow investment bank, suggests Gopec's formation will leave control of gas development, especially LNG, in the hands of members' national energy companies. The likes of ExxonMobil, BP and Shell may be relegated to minority stakes.
FSA fines hit record with more to come
Fines so far have totalled £22.6m the second highest amount yet. It would be a record were it not for the distorting effect on the 2004 £24.8m record of the £17m fine against Shell.
Fatality at Shell Deer Park Refinery
The falling accident took place at approximately 11 a.m. Thursday at a Shell Oil refinery at the 5700 block of State Highway 225.