Exxon Mobil Q3: Earnings fell in all divisions HOUSTON, Oct 28 (Reuters) – Exxon Mobil Corp, the world’s largest publicly traded oil company, on Friday reported a 38 per cent drop in quarterly profit that still beat Wall Street’s expectations as cost cuts partly offset declining crude oil prices. Shares of Exxon were down 1.9 per […]
Exxon Mobil Q3 profit drops 38 per cent, but beats estimates Read More »
Imperial Oil upstream unit cash down 35 per cent from 2014 Oct 28 (Reuters) – Imperial Oil Ltd, Canada’s No. 2 integrated oil producer and refiner, reported a better-than-expected quarterly profit as the company’s aggressive cost-cutting measures helped cushion the impact of lower oil prices. However, the company said some oil assets would not qualify as
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Pemex Q3: Company posts $6.1 billion net loss By David Alire Garcia MEXICO CITY, Oct 28 (Reuters) – Mexico’s state-run oil company Pemex reported a narrower 118.36 billion peso ($6.1 billion) third-quarter net loss on Friday, even as it continues to grapple with low prices and declining crude production. It marked Pemex’s 16th consecutive quarter in
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Statoil Q3 adjusted operating profit $636 million from $2 billion last year OSLO, Oct 27 (Reuters) – Norway’s Statoil cut its 2016 capital expenditure plans again on Thursday after missing third-quarter earnings forecasts hurt by lower-than-expected output and low oil prices. Like other oil companies, Statoil has been slashing investments, jobs and projects to cope with
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Exxon looks to counter oil prices slide Oct 27 (Reuters) – Exxon Mobil Corp is weighing building a full-scale trading division as it looks to counter a more than two-year rout in oil prices, the Financial Times reported on Thursday, citing people familiar with the matter. The downturn in oil prices is prompting some Exxon executives
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ConocoPhillips posts smaller loss, cuts 2016 capex forecast Oct 27 (Reuters) – ConocoPhillips reported a smaller-than-expected quarterly loss, helped by lower expenses, and cut its capital budget forecast for the year. The company also raised the lower end of its full-year production estimate to 1.56 million barrels of oil equivalent per day (mboed). It had
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ExxonMobil holds 27% interest and is the operator for OPL 223 and OML 139 IRVING, Texas – Exxon Mobil Corporation announced a significant discovery with a potential recoverable resource of between 500 million and 1 billion barrels of oil on the Owowo field offshore Nigeria. The Owowo-3 well, which was spud on Sept. 23, encountered
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Lansdowne Partners CEO “less negative” TEL AVIV, Oct 26 (Reuters) – UK hedge fund Lansdowne Partners Chairman Stuart Roden said on Wednesday he was not bullish on energy prices in the long term despite crude oil prices hitting a 15-month high last week. “We are still long-term negative,” he told Reuters on the sidelines of
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CNOOC Q3 revenue down 15 per cent By Chen Aizhu BEIJING, Oct 26 (Reuters) – China’s offshore oil and gas specialist CNOOC Ltd reported on Wednesday a 15.2 per cent fall in third-quarter oil and gas sales revenue, hurt by weaker prices, but expected a cautious rebound in oil prices to lift fourth-quarter revenue. Releasing its
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Novatek Q3 sales up 8 per cent MOSCOW, Oct 26 (Reuters) – Novatek highlighted its status as one of Russia’s fastest-growing oil and gas producers by posting a hefty third-quarter swing to profit on rising sales as new fields came onstream. Despite Western sanctions over Moscow’s role in the Ukrainian crisis, Russia’s second-largest gas producer has
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