Husky Energy dropped production costs, enjoyed higher margins By Ethan Lou CALGARY, Alberta, Feb 24 (Reuters) – Canadian oil producer Husky Energy Inc reported a net profit of C$186 million on Friday, helped by a gain on asset sales and the reversal of a C$202 million ($154 million) impairment charge. Excluding the one-time items, Husky posted […]
Husky Energy posts Q4 profit, partly on asset sales Read More »
Aramco IPO expected to be the world’s biggest IPO KHOBAR, Saudi Arabia, Feb 23 (Reuters) – The Saudi Aramco IPO could encourage other Gulf countries to list their oil assets, a leading regional economist said, but the oilgiant must clear uncertainties over taxation, OPEC policy and ownership of crude. Nasser Saidi, a former economy minister
Aramco IPO could push other Gulf states to list oil assets: Economist Read More »
Crescent Point Q4 loss bigger than expected as production falls Feb 23 (Reuters) – Canada’s Crescent Point Energy Corp reported a bigger-than-expected quarterly loss on Thursday as the company’s production fell about 6 per cent. The oil and gas producer – whose core operations are in southwest Saskatchewan, the Williston Basin and the Uinta Basin
Crescent Point Q4 loss bigger than expected as production falls Read More »
Apache looking to spend $3.1 billion in 2017 Feb 23 (Reuters) – Oil and gas producer Apache Corp said it would spend 63.2 per cent more in 2017 than it did last year, joining a growing list of U.S. shale producers who are ramping up spending to take advantage of a recovery in oil prices.
Apache raises 2017 budget by more than 60 pct Read More »
Chesapeake Energy results hurt by lower volumes, prices Feb 23 (Reuters) – Shares in U.S. natural gas producer Chesapeake Energy Corp fell on Thursday after posting a smaller fourth-quarter loss than a year earlier, when it took huge charges to write down the value of some oil and gas assets. Results were hurt by lower
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Oil prices near top of $4 trading ranges By Catherine Ngai NEW YORK, Feb 23 (Reuters) – Oil prices rose on Thursday but gains were pared after U.S. government data showed a seventh straight build in crude stocks, suggesting high inventories could undermine OPEC’s move to cut output. Benchmark Brent crude oil rose 74 cents
Oil prices up but gains pared after 7th straight stock build Read More »
Ultra Petroleum filed for Chapter 11 protection last April By Jim Christie Feb 22 (Reuters) – A judge has crushed the hopes of a group of investors in Ultra Petroleum Inc, a bankrupt natural gas company, who had sought to collect a $300 million windfall because a clerk entered a court order on the wrong
Judge bars Ultra Petroleum investors from collecting on $300 million clerical error Read More »
Middle East region forecast to stabilize, supported by oil prices and the end of Iranian sanctions Total 2017 global light vehicle sales will reach 93.5 million units, a growth rate of 1.5 per cent over 2016, according to the most recent forecast from IHS Markit. However, industry risk in mature markets is at the highest
Rosneft reported $908 million net profit in 2016 Q4 By Olesya Astakhova MOSCOW, Feb 22 (Reuters) – Rosneft, Russia’s biggest oil producer, made a net profit of 52 billion roubles ($908 million) in the final three months of last year, it reported on Wednesday, down from 53 billion roubles in the same period of 2015.
Rosneft profits slip, other Russian oil and gas producers see gains Read More »
OPEC deal gives oil prices a floor By Devika Krishna Kumar NEW YORK, Feb 22 (Reuters) – Oil prices fell more than 1 per cent on Wednesday on expectations of another surge in U.S. inventories, retreating from multi-week highs hit in the previous session after OPEC signalled optimism over its deal with other producers to curb
Oil prices drop on worries of swelling U.S. stockpiles Read More »
