Category: Finance/Earnings

Petronas turns to $2.7 billion fourth-quarter loss on oil slump

Petronas won’t generate enough cash from operations this year to cover capital spending and dividend commitments, said Vikas Halan, a Singapore-based vice president at Moody’s Investors Service Inc., estimating the shortfall to be at least 10 billion ringgit.  More »

NRG reports $119 million in fourth quarter profits

The company, which both generates power and supplies it to retail customers, also saw its net income for 2014 rise to $134 million, up from a $386 million loss in 2013.  More »

YPF quarterly profit misses analysts’ estimates on higher costs

President Cristina Fernandez de Kirchner’s government allows oil producers to remain profitable amid a slump in crude prices by setting fourth-quarter prices of $83.90 for Medanito light oil and $74 for Escalante heavy oil.  More »

CenterPoint officials say they aren’t worried about Houston’s economy

CenterPoint Energy, the monopoly utility company serving Houston-area electric companies, reported a 55.8 percent increase in profits in the fourth quarter Thursday.  More »

GDF Suez to lower spending on oil crash as 2014 profit falls

GDF Suez had lowered its 2014 profit forecast because two nuclear reactors in Belgium remained halted due to safety checks of cracks in their cores.  More »

Repsol profit triples as refining counterbalances oil drop

Oil’s drop of almost 50 percent over the past six months pushed companies from Total SA and Royal Dutch Shell Plc to BP Group Plc and Statoil ASA to announce investment cuts in the past month.  More »

Premier oil suspends dividend after posting full-year loss

First oil from its Solan project in the North Sea west of Shetlands is now expected in the second half instead of the second quarter because of poor weather conditions, the company said.  More »

Transocean could take only a week to shelve out-of-work rigs, execs say

Transocean reported a loss in the fourth quarter as it took a $992 million goodwill impairment charge on the sinking value of its drilling business and other charges, it said late Wednesday.  More »

Dynegy scraps California sales

On Tuesday, the company reported a net loss of $104 million in the fourth quarter of 2014. It had a $91 million loss during the same period a year ago.  More »

Dynegy reports $104 million loss for fourth quarter

Dynegy reported a larger fourth-quarter loss than in 2013, but a lower net loss for the full year.  More »

BHP Billiton’s profits have fallen by almost half

BHP Billiton, the Australian energy giant with a major presence in Texas, reported that its profits were down 47 percent  More »

Blackstone to pour $9 billion into struggling energy industry

The world’s largest private equity shop is gearing up to pour billions into a deflated petroleum industry that, with the collapse of crude prices, has lost $1.6 trillion annually to invest in new oil.  More »

Cabot reports loss, will slow Marcellus and Eagle Ford drilling

Cabot Oil & Gas Corp. reported a $221.8 million loss for the quarter, as it suffered from oil prices that have dropped by nearly half since their summer peaks.  More »

Fossil fuel divestment effort comes to energy-rich Colorado

Students will ask the University of Colorado Board of Regents on Friday to divest from coal and petroleum companies.  More »

EOG: Delaying completions is “right business decision”

EOG Resources officials elaborated on their decision to dramatically pare back well completions in 2015, telling investors the move is “the right business decision.”  More »
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