Tag: Oil Companies
Oil majors join forces in climate push with renewable energy fund
Renewable energy fund announcement in London on Friday By Ron Bousso LONDON, Nov.2 (Reuters) – Top oil companies including Saudi Aramco and Shell are joining forces to create a renewable energy fund to develop technologies to promote clean energy technologies, as they seek an active role in the fight against global warming, sources said. The […]
Low oil prices reduce CAPEX, minimum $3 trillion needed 2016-2020
Over next 5 years, $590 billion of the industry’s debt is maturing, shareholders expect $600 billion in reduced payouts A lower-for-longer oil price environment has taken a toll on the capital spending of exploration and production companies, according to analysis from Deloitte. Actual and announced capex cuts have gone below the minimum required levels to offset depletion, […]
Oil super-major Total’s billion-dollar battery acquisition lets it compete with Tesla-SolarCity
Total’s approach has important lessons for other oil super-majors, says Lux analyst French oil company Total, with energy storage firms Saft and SunPower in its portfolio, is the first oil “super-major” entering new areas of business including solar plus storage and distributed generation, according to Lux Research. Total controls 97.12 percent of battery maker Saft, […]
US oil companies closer to balancing capital investment with operating cash flow
Oil companies included in analysis are 39 public US producers operating only onshore fields Although the crude oil price decline since 2014 has led to significant reductions in operating cash flow for US oil companies, their immediate financial situations are improving. As oil companies’ spending falls and crude oil prices increase, the need for oil […]
Capex cuts are both risk, reality for American E&Ps – Fitch
Prolonged low prices, supply and demand dynamics remain key issues affecting American oil and gas producers, service firms NEW YORK – The 2016 sector outlooks for the US oil and gas and oilfield services sectors are negative, according to Fitch Ratings, pressured by global supply/demand challenges, the threat of persistently low oil prices, and sharp capex […]
Bank estimates oil prices remain low through 2016
Report says oil prices expected to rise to $55/b by end of 2016 Oil companies are in for at least another year of pain, according to Scotiabank’s latest commodity price index, with crude oil prices are expected to stay below US$50 a barrel for the next 12 months. The report by Patricia Mohr, a vice-president and […]
Noble Energy pays $2.1B for Rosetta Resources
Noble Energy expands Texas footprint in a big way Noble Energy will pay about $2.1 billion for Rosetta Resources in an all-stock deal that gives the oil and gas company access to two massive Texas shale formations. Assets belonging to Rosetta Resources Inc. include about 50,000 net acres in the Eagle Ford Shale and another […]
Connect
Connect with us on the following social media platforms.