Archive for February, 2016
Rising oil prices help US stocks post solid gain
Oil prices surge Thursday afternoon NEW YORK _ A late-day surge pushed U.S. stocks sharply higher Thursday, propelled by a recovery in energy companies and bank stocks, which have been hit hard this year. Investors were also encouraged by positive economic data, including improved orders for long-lasting goods that served as a sign that businesses […]
Halliburton to cut another 5,000 jobs amid oil slump
Halliburton cuts amount to 8 per cent of global workforce HOUSTON _ Halliburton Co., which provides well-drilling services for oil companies, is cutting 5,000 more jobs as the industry continues to struggle with slumping oil prices. A company spokeswoman said Thursday that the latest cuts will amount to about 8 per cent of the Houston-based […]
Cheniere Energy’s Sabine Pass ships first LNG export cargo, bound for Brazil
Sabine Pass LNG has entered into six third-party LNG sale for approximately 19.75 mtpa Cheniere Energy announced Wednesday that the first LNG shipments from the Sabine Pass liquefaction project in Cameron Parish, Louisiana are headed to Brazil. “Today we will finish loading the first commissioning cargo of LNG from our Sabine Pass LNG terminal,” said Neal Shear, chairman and interim CEO of Cheniere Partners, said […]
Opinion: What Houston needs: An energy president
Houston, the U.S. need leadership during a period of low oil prices, layoffs By Ed Hirs, University of Houston The candidates in this year’s fractious presidential campaign agree about one thing: There’s universal silence on energy policy. And even if they include a wish list of energy proposals on their campaign websites, no one offers […]
Helix Energy: Q4 $403 million loss due to reduced offshore drilling
Helix Energy’s well intervention vessel utilization in Q4 2015 decreased to 47% from 60% in Q3 2015 Helix Energy Solutions Group, Inc. reported a net loss of $403.9 million, or $(3.83) per diluted share, for Q4 2015 compared to net income of $8. million, or $0.08 per diluted share, for the same period in 2014 and net income of $9.9 […]
‘Introduce a Girl to Engineering Day’ reaches 2,000 American middle school students
Exxon Mobil-sponsored activities include demonstrating energy industry’s use of 3D imaging technology to search for oil Exxon Mobil says it is inspiring girls to consider careers in science, technology, engineering and math through its thirteenth annual Introduce a Girl to Engineering Day program. This year’s program is a component of the company’s broader “Be an Engineer” initiative and […]
Repsol sinks deep into the red in Q4 after oil price hit
Repsol reports $2.26B loss in Q4 due to a write-down of assets MADRID _ Spanish energy company Repsol says it posted a net loss of 2.06 billion euros ($2.26 billion) in the fourth quarter of 2015 due primarily to a write-down of assets related to the slump in oil prices. That’s a big change from […]
Canadian oil production rising despite low prices – EIA
Average price for Western Canadian Select crude oil in Jan. was $18.42/b, about $15/b below WTI Despite lower crude oil prices, EIA expects Canadian oil production to continue increasing through 2017, according to the US Energy Information Administration. Canadian oil sands projects that were already under construction when prices began to fall in 2014 and […]
Chesapeake Energy loses $14.8 billion in 2015, cuts capex 57%
Chesapeake Energy’s 2015 daily production averaged 679,200 boe, year-over-year increase of 8% Chesapeake Energy shares are tumbling after the company announced it lost $14.8 billion in 2015 and plans to cut its capex by 57 per cent for the current year. For the 2015 full year, Chesapeake reported a net loss available to common stockholders […]
Enbridge raises $2B in financing, to pay down short term debt
US, Canadian banks issue 49.14 million Enbridge shares on bought-deal basis CALGARY _ Pipeline giant Enbridge Inc. (TSX:ENB) has announced an agreement to raise $2 billion by selling its own shares, the proceeds of which will go toward paying down short-term debt. The company and a group of Canadian and U.S. banks have agreed to […]
Connect
Connect with us on the following social media platforms.