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It picked a bad time to sell a refinery in the developed world, but Chevron lightens up to focus on Asia and gas.

Occidental Petroleum chairman and CEO Ray Irani received $31.4 million in total compensation in 2009, a 39.4% increase over the previous year.

Schlumberger Ltd., the world's biggest oilfield services company, has agreed to purchase fellow industry player Smith International Inc. for about $11 billion in stock in a move to diversify its product offerings and better compete with rival Halliburton Co.

The president of ConocoPhillips Alaska was killed in an avalanche and another person in his snowmobiling party is missing, according to Alaska State Troopers.

Exxon Mobil Corp. on Monday said last year's profit of $19.3 billion was its smallest since 2002 as higher oil prices squeezed profit margins in its refining business....

Chevron posts a big fall in profits due to petrol and diesel prices failing to keep up with a big rise in the cost of crude oil.

Somali pirates freed a Greek- flagged tanker carrying 2 million barrels of oil on Monday and witnesses said four pirates were killed in a clash between rival groups over the ransom.

Facing another huge deficit, the governor wants $8 billion or threatens massive cuts in social services. He also plans to renew push for offshore oil drilling.

Iranian security forces seized an oil well in southern Iraq on Thursday night, two senior Iraqi government officials said Friday.

Exxon’s purchase of XTO, which has expertise in the growing area of shale gas, is one of the biggest energy deals in years.