A Rosneft flag flies over the Russian oil giant's refinery near the city of Samara.

OSLO Norwegian oil giant Statoil said Wednesday it has awarded contracts worth 9.4 billion kronor for three new light well intervention, or LWI, vessels from Island Offshore Management and Eide Marine Services.The vessels will contribute to increased recovery from Statoil's subsea wells offshore Norway and reduce maintenance costs, Statoil ... (more)

This monthly report series was initiated in December 2011 with dog dividend methodology being applied to each of eight major market sectors.

An oil pump works at sunset Feb. 21, 2012, in the desert oil fields of Sakhir, Bahrain.

To East Africa's assets of spectacular wildlife, abundant land and shimmering beaches you can now add gas - so much gas it could transform global energy flows along with some of the world's poorest countries.

A former BP engineer charged with deleting text messages about the company's response to the 2010 oil spill in the Gulf of Mexico is asking for a federal judge's permission to travel freely throughout the U.S. while... A former BP engineer charged with deleting text messages about the company's response to the 2010 oil spill in the Gulf of Mexico ... (more)

T. Boone Pickens, founder and chief executive officer of BP Capital LLC, speaks during the Skybridge Alternatives conference in Las Vegas, Nevada, U.S., on Thursday, May 10, 2012.

The Japanese government and local companies will buy a 10 percent stake in Chevron Corp.

China Gas Holdings Ltd., the utility that began life as an online retailer, has become the industry's hottest property as China plans to double use of natural gas and replace coal in the biggest-polluting nation.

Students in a college business class on the Pine Ridge Indian Reservation have teamed up with advertisers from Rapid City in an effort to reduce suicide on the southwestern South Dakota reservation.

Dow: 12,695, -125.2, -0.9% S&P 500: 1,338, -15.0, -1.1% NASDAQ: 2,902, -31.2 , -1.0% European markets continued to take it on the chin as fears of disorderly Greek exit from the eurozone continued to escalate .

May 11--WASHINGTON -- Although the Spanish company Repsol is moving slowly in drilling an exploratory oil well in waters north of Cuba and the island nation is monitoring the work carefully, the U.S. hasn't done enough to help prevent an accident there, experts warned Thursday.