BP is selling part of its stake in an emerging oil-producing region in the Gulf of Mexico to Chevron, and the two companies, along with Conoco Phillips, will work to develop the fields together.
The fires at the site of a pipeline explosion in Milford lit up the sky all day Thursday, but tonight are burning lower. Residents remain evacuated, as Chevron crews work to secure the explosion site.
Hundreds of families in Milford still cannot return to their homes on Friday after a pipeline explosion on Thursday forced an evacuation of the entire North Texas city.
Some 700 Milford residents are away from home tonight. The entire town was evacuated after workers punctured a Chevron gas pipeline — causing a huge explosion. Chevron set up a claims hotline for people forced to evacuate.
Exxon Mobil rode higher oil prices to a $30 billion profit last year. But shareholders on Wednesday are likely to ask pointed questions about its push into natural gas.