Anadarko posts smaller quarterly loss Jan 31 (Reuters) – Oil and gas producer Anadarko Petroleum Corp reported a bigger-than-expected quarterly loss on Tuesday as cost cuts failed to offset the impact of weak oil prices. Crude prices have crossed the $50 barrier as a global glut eases, but are still a long way off from […]
Anadarko posts bigger-than-expected quarterly loss Read More »
Diversified Gas & Oil to raise $50 million in London AIM IPO By Karolin Schaps LONDON, Jan 31 (Reuters) – Diversified Gas & Oil, a conventional gas producer in the United States, is set to list on London’s junior AIM market on Friday and raise $50 million, the biggest oil and gas flotation since oil prices
Diversified Gas & Oil London listing set to be largest since 2014 price crash Read More »
Oil prices up over 1 per cent By Devika Krishna Kumar NEW YORK, Jan 31 (Reuters) – Oil prices rose more than 1 per cent on Tuesday after news that the world’s top producers cut production this month more than forecasters had expected and as the dollar sank. A Reuters survey showed that the Organization of
Oil prices rise on weak dollar, OPEC output cuts Read More »
Exxon posts better than expected Q4 profits By Ernest Scheyder HOUSTON, Jan 31 (Reuters) – Exxon Mobil Corp boosted its 2017 capital budget on Tuesday on a bet that oil prices have stabilized, but posted its lowest quarterly profit since 1999 as it took a $2 billion charge against the value of natural gas reserves from
Exxon boosts capital budget but takes $2 billion charge from XTO deal Read More »
Chevron says changes strengthen accountability for performance Jan 30 (Reuters) – Oil and natural gas producer Chevron Corp said it would give its top executive fewer stock options after shareholders expressed concern about executive pay. Oil companies have been restructuring pay packages of their top management after a two-year-long slump in oil prices eroded profitability.
Chevron says to give CEO fewer stock options Read More »
To get oil prices over $60/barrel in 2018, more supply cuts needed: Analysts By Jessica Resnick-Ault NEW YORK, Jan 30 (Reuters) – Oil prices fell on Monday as news of another weekly increase in U.S. drilling activity had oil forecasters concerned that production cuts from other producing nations may not reduce the global supply glut as
Oil prices slip as more U.S. drilling revives concern about glut Read More »
Stronger dollar would in turn tend to depress the price of crude worldwide By John Kemp Hedge funds seem to be quietly positioning for the possible imposition of a border tax adjustment on imports of crude oil into the United States. The principal impact of a border tax adjustment would be to raise the price
Hedge funds prepare for possible border tax adjustment on US oil imports: Kemp Read More »
Study notes some companies hope to “grow” their way out of debt problems; strategy likely unrealistic Though the overall outlook for the oil and gas industry doesn’t seem to be quite as dire as it was a year ago, 2017 is likely to be a year of “3 R’s” for industry players — a year
Expect oil & gas ‘3 R’s’ in 2017: Restructuring, realignment, rebuilding Read More »
Peabody Energy looking to emerge from bankruptcy in April By Tracy Rucinski ST. LOUIS, Jan 26 (Reuters) – Peabody Energy Corp , the world’s largest private-sector coal miner, can begin seeking creditor votes for a plan to cut $5 billion of debt and exit its Chapter 11 bankruptcy, a U.S. bankruptcy judge said on Thursday. U.S.
Peabody Energy gets U.S. court approval to pursue reorganization Read More »
Taking Midcoast Energy Partners private would reduce costs, simplify corporate structure Jan 27 (Reuters) – Enbridge Inc said on Friday it would pay about $170 million to take private Midcoast Energy Partners LP, which also has a stake in natural gas pipelines owned by Enbridge Energy Partners LP. Enbridge Inc has a 21.1 percent stake in Enbridge
Enbridge to take Midcoast Energy Partners private Read More »
