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| Is ExxonMobil's future running dry? |
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 The petroleum giant is shying from risky exploration and spending money on buying back stock. Over the long haul, those moves could lead the company to go private or disappear.
Are we witnessing the death of ExxonMobil?
Strange question to ask with oil above $120 a barrel and ExxonMobil reporting $11 billion in first-quarter profits?
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| Mystery Indian analyst spooks world economy |
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| They are calling him Arjun "Spike" Murti, but his real middle name is Narayana, the supreme manifestation of the Hindu God Vishnu.
Supreme he is, in the oil world. The little known Indian analyst at Goldman Sachs has become a cause celebre -- or a doomsday prophet -- for his forecasts about oil prices, based on what he calls the "super-spike" theory, predicated on rising demand for crude and limitations in refining capacity.
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| Vietnam starts construction on 6 billion dollar oil-refinery |
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| Energy-hungry Vietnam started building its second oil refinery on Saturday, a 6.2 billion dollar complex, in a bid to feed the nation's booming economy, the State Oil company announced.
Vietnam Oil and Gas Corporation (PetroVietnam), the oil monopoly in the communist nation, set up a joint-venture with its counterparts from Japan and Kuwait to build Nghi Son refinery in the north of the country.
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| Oil price surge threatens airlines |
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| Guest writes: Almost all the world's airlines are heading for significant losses if oil prices stay at their current level, experts have warned as crude touched a record high.
City analysts said the price rise - up to $126 a barrel in New York - could also trigger a decline in air travel.
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| Stop whining, Schwarzenegger tells carmakers |
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| coyote writes: Create technologies to meet tougher Calif. emissions, governor says
SACRAMENTO, Calif. - Gov. Arnold Schwarzenegger met privately with seven auto executives over California's attempt to impose strict emission rules, but let it be known publicly that he told the carmakers to stop whining and start producing.
The Republican governor met Thursday with the executives, who requested the get-together. In an interview afterward, he said he told them "the train has left the station" and that they should stop challenging California rules that are intended to help slow the rate of global warming.
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| Japan Airlines says back in profit, but sees drop ahead |
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| Japan Airlines Corp. said Friday that it had returned to profit in the year to March after two straight annual losses, but forecast a 23 percent drop in earnings this year amid high fuel costs.
Asia's largest carrier has moved to restore its financial health by slashing thousands of jobs, scrapping unprofitable routes and stepping up lucrative business class services.
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| Ensuring the Future of the Oil and Gas Industry |
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| The energy industry needs no crystal ball to get a glimpse into the future. In addition to upcoming projects, discoveries and technologies, oil and gas companies clearly see the immediate and long-term need for employees. A major topic of discussion at OTC 2008, the industry is undertaking a number of initiatives to encourage and ensure future generations of oil and gas employees.
Despite the rising price of oil, experts predict that the oil and gas industry will experience a void in employees in the coming years. In addition to the "Graying Workforce" phenomenon, there simply are not as many young people joining the industry.
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| Toyota's so-called tumble |
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| Guest writes: NEW YORK (Fortune) -- Flag-waving American loyalists were heartened to see the announcement that Toyota's January-to-March profit sank 28%. It provided evidence that even mighty Toyota can't escape the Four Horsemen of the Apocalypse - the deadly combination of high fuel prices, surging raw material costs, the global credit crunch and a strong yen.
...But what came after that should have drained the smiles from their faces faster than a run-in with Tony Soprano. Toyota made a forecast for the next 12 months that is just as grim as its results over the last three. Toyota sees hard times. And if Toyota - the industry's biggest, strongest player - catches a cold, most of the rest will likely develop pneumonia.
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| Stocks tumble as oil nears $124 a barrel |
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| Guest writes: NEW YORK — Wall Street tumbled today as the price of a barrel of oil soared to a record near $124 and touched off concerns that the stock market's recent gains might have been premature while consumers grapple with rising energy and food costs. The major stock market indexes each lost more than 1.5 percent, with the Dow Jones industrial average declining by more than 200 points.
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| Squeezed airlines clip wings |
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| Several US airlines, roiled by unrelenting fuel costs, disclosed this week that they are winnowing daily flights to certain destinations, eliminating entire routes, and in some cases withdrawing from airports - and this is just the beginning.
A Goldman Sachs report issued yesterday indicated such cuts will not be enough to compensate for the cost of fuel.
"We expect carriers to explore any and all options - capital raises, foreign capital infusions, strategic transitions, asset sales, alliances - in an attempt to bolster their positions financially and strategically in this quickly deteriorating environment," wrote analyst Christopher Cuomo. "But in a world of sustained $100-plus oil, we are not convinced these actions can provide enough relief to offset the challenges that lie ahead."
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| Easyjet says airlines at the mercy of oil prices |
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| EasyJet warned that the high cost of fuel will force more airlines to the wall this year as it admitted that profits are at the mercy of the global oil price.
The low-budget carrier reported a 14.7% increase in passengers but admitted that the cost of carrying them had risen by £4 a customer due to the accelerating cost of fuel. Andy Harrison, easyJet chief executive, said the airline was weathering weak consumer spending but the oil price posed a severe threat to its profitability.
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| Fuel bill extends Easyjet losses |
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| Guest writes: Budget airline Easyjet has seen first-half losses more than treble as the price of oil soars.
For the six months to 31 March the firm made a loss of £57.5m, including £9.1m of costs from its purchase of GB Airways, against £17.1m a year ago.
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| Soaring oil price could drive 'weaker airlines' out of business |
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| Guest writes: The soaring oil price will drive "weaker" rivals out of business, easyJet claimed this morning, despite seeing its own losses treble over the last six months.
With oil hitting a new record of $122 a barrel yesterday, and Goldman Sachs forecasting it could hit $200 a barrel this year, easyJet predicted carnage in the airline industry.
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| British Airways counts cost of T5 fiasco as passenger numbers fall |
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| Guest writes: ...Nick van den Brul, aviation analyst for Exane BNP Paribas, said: “T5 has clearly been a big problem and it will have an impact on profits. April is usually a good month, when things start to pick up after the winter, but this has not happened.”
Analysts are concerned that BA's passenger numbers are falling just as costs rise and the economy slows. Oil prices have hit record levels and this has caused a number of airlines to go into bankruptcy.
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| Tullow's shares soar 24% after discovery of hugeoil reserves off Ghana |
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| Guest writes: More than £1 bn was added to the value of Tullow Oil yesterday after the exploration group announced a major find off the coast of Ghana.
The share price gushed to 935p, a rise of 183.5p over Friday's close. The 24 per cent gain is one of the biggest single-day price movements seen in a FTSE 100 company's share price without there being any M&A activity.
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