ConocoPhillips suffers bigger-than-expected Q2 loss July 28 (Reuters) – U.S. oil producer ConocoPhillips reported a bigger-than-expected quarterly loss and cut its 2016 budget for the third time this year amid a crude oil slump that has lasted for two years. The Houston-based company, whose shares were down 1.7 percent in premarket trading, cut its capital budget […]
ConocoPhillips cuts 2016 budget again amid oil slump Read More »
Marathon Petroleum total cost and expenses fell 19.6 per cent in Q2 July 28 (Reuters) – Marathon Petroleum Corp posted a better-than-expected quarterly profit, helped by lower operating costs and robust demand for gasoline during the summer driving season. Marathon said it also gained from the $1.28 billion acquisition of U.S. natural gas processor MarkWest
Marathon Petroleum Q2 profit tops estimates as costs fall Read More »
Repsol profit helped by higher crude price By Amanda Cooper MADRID, July 28 (Reuters) – Spanish oil refiner Repsol reported a forecast-beating rise in net profit in the second quarter on Thursday, helped by a higher crude price, and said Britain leaving the European Union was not a cause for concern. Repsol, which operates worldwide,
Repsol Q2 results better forecasts; untroubled by Brexit Read More »
TransCanada recently took over Columbia Pipeline Group By Julie Gordon July 28 (Reuters) – TransCanada Corp, Canada’s second-largest pipeline company, reported on Thursday a slightly higher-than-expected quarterly profit, and said the process of seeking buyers for the sale of some of its assets was well under way. The Calgary-based company is marketing an up to 49.9
TransCanada Q2 profit beats; asset sales plan moving ahead Read More »
Pemex Q2 15th straight quarter in the red MEXICO CITY, July 28 (Reuters) – Mexican national oil company Pemex said on Thursday its losses narrowed in the second quarter, marking its 15th straight quarter in the red. The loss at Pemex shrunk more than 1 percent to 83.5 billion pesos ($4.6 billion) from 84.6 billion pesos in
Pemex Q2 losses narrow slightly Read More »
National Oilwell says land business to bottom in Q3, recovery in 2017 July 28 (Reuters) – National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, said demand rose for some of its products and services in North America in recent weeks, as drillers put rigs back to work. Shares of the company, which also reported
National Oilwell sees “isolated green shoots of activity” Read More »
Pioneer Natural Resources will drill more as prices improve HOUSTON, July 27 (Reuters) – U.S. oil producer Pioneer Natural Resources Co posted a second-quarter net loss on Wednesday that widened from a year earlier on $229 million in losses on derivatives it uses to insulate its revenues from volatile oil prices. Pioneer, known for its aggressive
Pioneer Natural Resources posts wider Q2 loss on derivatives Read More »
Noble Corp says “industry conditions remain challenging” July 27 (Reuters) – Rig contractor Noble Corp Plc reported a lower-than-expected quarterly profit and lowered its 2016 capital expenditure as oil producers reduced spending to weather a prolonged slump in crude prices. Average price of internationally traded Brent crude fell about 26 percent in the second quarter from
Noble Corp reports disappointing profit, lowers capex Read More »
Industry’s smarter capital allocation, efforts to rework projects to reduce costs, starting to pay off HOUSTON – Wood Mackenzie’s recent analysis of corporation in the oil and gas sector shows the industry has a strong ‘survival’ reflex, measured by dramatically tighter cash flow management. “This is some achievement given the majority needed over US$90 a barrel in 2014,”
Q2 results: looking for signs of an oil and gas industry adapting – Wood Mackenzie Read More »
US land rig count fell by 25% in second quarter Schlumberger released it’s second quarter results, and while it’s revenue is up 10 per cent from last quarter, at $7.2 billion, it’s all attributed revenue gained from the merger with Cameron International Corporation, which finalized April 1. North American revenue decreased 12 per cent, while international revenue decreased 9 per cent. “In the
Schlumberger releases 16,000 employees in 2016 amid weak Q2 results Read More »
