Energy Biz Roundup: Exxon Mobil Paid in Oil, Dynegy’s Three Card Monte
Difficulties and complexities of transacting cash payments in Iraq has oil companies back in the barter system. Exxon Mobil (NYSE:XOM) will be paid in oil by the Iraqi government for its work completed in a large project.
Investing Insights: Oil Stock Alerts: Chevron, Anadarko, BP March 12th.
Talks between Tidewater (NYSE:TDW) and Angolan state-run Sonangol come to an impasse, and the former company reports that it might have to relocate oil rigs from Angola to other locations, entailing an ‘undetermined amount of costs’. Shares drop accordingly.
In an action termed by a judge as “willful misconduct”, Dynegy (NYSE:DYN) was accused of shuffling power-plant assets into separate units from those that filed for bankruptcy.
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