Exxon Q4 profit fell by 58 per cent DALLAS _The big plunge in crude prices is taking a toll on Big Oil. Exxon Mobil Corp. said Tuesday that fourth-quarter profit fell 58 per cent to $2.78 billion. It was the oil giant’s smallest profit since the third quarter of 2002. Exxon’s core exploration and production […]
Exxon Q4 and annual profit plunges with oil prices Read More »
Alberta petrochemical sector companies that produce value-added goods receive credits CALGARY _ The Alberta government aims to create thousands of jobs and reel in billions in investment by providing $500 million in royalty credits to the province’s petrochemical sector. The Petrochemicals Diversification Program announced Monday is one example of how the NDP government aims to
Alberta petrochemical sector gets boost from provincial program Read More »
Dominion Resources an eastern power producer purchases western gas supplier NEW YORK _Dominion Resources will spend approximately $4.4 billion to acquire Questar in a big reach to the West for the East Coast energy company. Dominion is a power producer in the mid-Atlantic region. Questar is in the Rockies and a principal source of gas
Dominion Resources buying Questar for about $4.4 billion Read More »
BlueStone’s says buying Quicksilver assets complements existing holdings in Barnett Shale, South Texas TULSA, Okla. – BlueStone Natural Resources says it has bought Texas-based Quicksilver Resources for $245 million in a bankruptcy auction. The United States Bankruptcy Court for the District of Delaware approved Tulsa-based BlueStone Natural Resources II, LLC as the buyer of the domestic oil and gas
Bluestone Natural buys bankrupt Quicksilver assets for $245 million Read More »
Chevron cutting spending, laying off workers, selling assets DALLAS _ Chevron suffered its first money-losing quarter since 2002 in the final three months of last year, as plunging crude prices chopped more than one-third from its revenue. Oil traded this month at levels not seen since 2003, although it has rebounded slightly in the last few
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Baker Hughes revenue for 2015 was $15.7 billion, down $8.8 billion compared to$24.6 billion for 2014 HOUSTON, Texas – Baker Hughes, soon to be merged with oil services giant Halliburton, is reporting a profit despite the challenging global price environment, the company reported last week. “Our 2015 results are reflective of an extremely difficult and increasingly
Baker Hughes sees big drop in 2015 North American revenue Read More »
Energy companies stock boosted after talks on Russian oil production cuts NEW YORK _ U.S. stocks rose Thursday as the price of oil climbed for the third day in a row on hopes that major oil exporters would cut production. Tech stocks traded higher, led by Facebook and PayPal, while drugmakers fell. Facebook made its biggest
US stocks move up as tech, energy companies rise Read More »
Investment grade E&Ps currently on Negative Outlook include ConocoPhillips, Hess, Southwestern Energy Company NEW YORK, NY – The dramatic price declines afflicting the oil and gas industry is finally beginning to affect company credit ratings, according to Fitch Ratings. Fitch Ratings has revised its 2016 rating outlook for the US oil and gas industry to
Credit ratings outlook for US oil & gas revised to negative on lower prices – Fitch Read More »
Line 901 oil spill onto Pacific coastline initially called a small spill, until months later it was revealed to be much larger, and the U.S. Department of Justice had initiated a criminal investigation into the spill A Denver law firm says that as part of a class action lawsuit it is investigating whether officers and directors of Houston-based Plains
Law firm says Plains All American Pipeline may have misled investors Read More »
Total Halliburton annual revenue of $23.6 billion declined 28% year-over-year, moving ahead with Baker Hughes acquisition Economic headwinds affecting the global oil and gas industry took their toll on industry leader Halliburton, but the company says it still managed to outperform industry averages. Halliburton has announced that income from continuing operations for the fourth quarter of 2015
Halliburton revenue drops 28% in Q4, 2016 to be ‘a tough year’ Read More »
