Proposals to build and operate liquefied natural gas (LNG) terminals worldwide continue to face opposition from government officials, citizens and environmental groups. Read more…

Fresh Del Monte Produce Inc. said Thursday it has appointed Madeleine L. Champion as an independent director. Champion will replace Maher Abu-Ghazaleh, who resigned after 12 years. Abu-Ghazaleh’s brothers Mohammed and Amir still work as directors. Champion, an international management and trade consultant, worked as a managing director and senior vice president at JPMorgan Chase & Co. from 2004 to 2008. Del Monte, a seller of prepared and fresh fruits and vegetables, said Tuesday its first-quarter net profit fell 45 percent to $34.9 million, or 55 cents per share, from $63.6 million, or $1 per share, a year earlier. Del Monte shares dropped 36 cents, or 2.4 percent, to close at $14.52 on Thursday.

Crude inventories jumped last week by more than twice what was expected, while gasoline reserves dropped sharply even as demand for motor fuel remained below last year’s levels, according to government data released Wednesday. For the week ended April 24 crude inventories rose by 4.1 million barrels, or 1.1 percent, to 374.7 million barrels, which is 18 percent above year-ago levels, the Energy Department’s Energy Information Administration said in its weekly report.

The oil major beats forecasts, but expect it to find extra cost savings this year as the industry slims down. With oil prices down 60.0% over the year, Big Oil is seeing a corresponding drop in profitability. Royal Dutch Shell announced on Wednesday a 61.6% slide in first-quarter profits, to $3.5 billion, only a day after BPsaid its own quarterly profits had fallen by 64.0% over the year. But like its rivals, Shell is building up its defensiveness and cutting costs–it just remains to be seen by how much.

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