BP Q3 net income at $933 million By Karolin Schaps LONDON, Nov 1 (Reuters) – British Petroleum reported a near halving in third-quarter earnings on Tuesday and cut its 2016 investment plans by another $1 billion as weak oil prices cut into profits, yet tighter spending helped BP Q3 beat analysts’ estimates. BP, which plans to […]
BP Q3 earnings beat estimates, trims spending again Read More »
Marex Spectron will house three traders in Calgary office By Nia Williams CALGARY, Alberta, Nov 1 (Reuters) – Global commodities brokerage Marex Spectron is opening its first Canadian office in Calgary, the country’s oil capital, with three traders, the company said on Tuesday. Marex Spectron plans to start brokering Canadian crude from January 2017 and
Marex Spectron sets up Canadian crude brokerage in Calgary Read More »
Occidental Petroleum shares down three per cent in morning trading Nov 1 (Reuters) – Occidental Petroleum Corp posted a larger-than-expected quarterly loss on Tuesday, as the Houston-based company curtailed production due to the slump in oil prices. Shares of the company fell more than 3 per cent to $70.54 in morning trading after the third-quarter loss
Occidental Petroleum loss misses Street forecast as output drops Read More »
Shell CFO calls Permian Basin a “crown jewel” By Ron Bousso and Karolin Schaps LONDON, Nov 1 (Reuters) – Royal Dutch Shell and BP on Tuesday joined peers in reporting higher than expected earnings by making further deep cuts in spending to cope with an oil price downturn now in its third year. The companies said they
Shell takes top earnings spot from Exxon as oil majors adapt to low prices Read More »
Anadarko looking to raise money through asset sales in 2016 Oct 31 (Reuters) – Anadarko Petroleum Corp reported a bigger-than-expected quarterly loss, hurt by lower crude prices, and said it expects to raise more than originally planned through asset sales this year. Anadarko increased its full-year asset monetization target for the second time this year, this
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HollyFrontier to produce 28,000 b/d Oct 31 (Reuters) – U.S. oil refiner HollyFrontier Corp said on Monday it would buy Suncor Energy Inc’s Petro-Canada lubricants unit for C$1.13 billion ($844 million), expanding its North American lubricants business. HollyFrontier will become the fourth-largest lubricants producer in North America with a capacity of 28,000 barrels per day, or
HollyFrontier to buy Suncor’s Petro-Canada lubricants unit Read More »
Proposed GE and Baker Hughes merge will have combined revenue of $32 billion By Swetha Gopinath and Ernest Scheyder Oct 31 (Reuters) – General Electric Co said on Monday it would merge its oil and gas business with Baker Hughes Inc, creating the world’s second-largest oilfield services provider as competition heats up to supply more-efficient products
GE and Baker Hughes merge to create No. 2 oilfield services provider Read More »
Three offshore exploration blocks, had a net carrying value of approximately $285 million HOUSTON – ConocoPhillips announced it completed a transaction for the sale of its shares in ConocoPhillips Senegal BV, which holds a 35 per cent interest in three exploration blocks offshore Senegal. “We are pleased to complete this transaction with Woodside,” said Matt Fox, executive
ConocoPhillips completes sale of exploration blocks offshore senegal Read More »
PetroChina Q3 profit down 76.9 per cent By Meng Meng and Dominique Patton BEIJING, Oct 28 (Reuters) – PetroChina Q3 reports showed sharply lower profits for the third quarter as weaker crude prices eroded margins at China’s largest oil and gas producer. Faced with the worst downturn in the oil sector in a generation, the company said on
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$1.28 billion Chevron Q3 net income reported HOUSTON, Oct 28 (Reuters) – Chevron Corp reported a drop in quarterly profit on Friday that still beat expectations as cost cuts in the company’s U.S. oil production division helped mitigate some of the impact of low crude prices. The company posted a third-quarter net income of $1.28 billion,
Chevron Q3 profit drops on weak oil price, but beats forecasts Read More »
