International oil companies are negotiating their return to Iraq 36 years after their expulsion from the country by former dictator Saddam Hussein. On 30 June, Royal Dutch Shell, Total, BP and ExxonMobil will sign agreements with Baghdad about providing maintenance work and technical support for Iraqi oil facilities over the next two years.

Exxon Mobil Corporation (NYSE:XOM): The net income in 2007 reached to 40,610 million dollars of oil and gas sales.

The oil giant Shell has made a disconcerting start to the new year attracting a considerable amount of negative publicity, most recently after announcing what has been described as “obscene” net profits of $31.3 billion in 2007, the highest ever for a British company.

The Yukos oil firm has formally ceased to exist following the completion of the company's liquidation process, the Yukos bankruptcy administrator said on Thursday in Moscow.

A study released today by Rice University's Baker Institute for Public Policy finds that the "Big Five" international oil companies (IOCs) are spending less money on oil exploration in real terms despite a four-fold increase in operating cash flow since the early 1990s.

French oil group Total says it has not made any new acquisitions or investments in Burma since 1998, after French President Nicolas Sarkozy on Wednesday urged the company to freeze investments in the southeast Asian country.

Court documents reveal that Royal Dutch Shell premium brand motor oil, Pennzoil-Quaker State, is mired in another false advertising scandal.

Oil PSUs Bharat Petroleum Corporation and Hindustan Petroleum Corporation have made it to the top 15 global firms in terms of biggest increase in profits, according to 2007 Fortune Global 500 list.

... as Partner for Initial Phase of Shtokman Field Development

Two foreign oil firms have failed to reach a deal with Venezuela to hand over control of their operations in the country as required under the government's nationalization effort. In Miami, VOA's Brian Wagner reports officials say Tuesday is the final day for negotiations with foreign oil firms.

Senate Republicans on Thursday blocked a $32 billion package of tax breaks for renewable energy that would have been financed mostly by new taxes on major oil companies, The Associated Press reported.