Category: Finance/Earnings

CERAWeek: U.S. and Wall Street take over OPEC’s role as global swing producer

Financial markets underpinning the U.S. shale boom have emerged as the world’s de facto regulator of global oil production, taking over from the Saudi Arabia-led cartel of crude exporting nations that abdicated its decades-old role in November, a top IHS researcher said Monday.  More »

Encana said to explore sale of Haynesville gas properties

Encana is unloading gas assets to better focus on drilling for oil and liquids such as condensate.  More »

Halliburton cuts 9,000 jobs as oil slump takes toll

Oil field services firm Halliburton posted a first-quarter net loss of $643 million as drilling rigs continued to go silent in North American oil fields and producers asked for pricing concessions for services, it said Monday.  More »

GE Power sales boost profit past estimates amid oil slump

Fallout from the global rout in oil markets showed up in GE’s sales, which trailed analysts’ estimates.  More »

Kinder Morgan CEO says to expect more acquisitions

Kinder Morgan’s board said it would raise the dividend to 48 cents per share, up 14 percent from the prior year’s Q1 payout of 42 cents per share.  More »

Oil firms may have to cut deeper than $126 billion, report says

If Brent, the international crude standard, hangs around $60 a barrel for much longer, oil producers in the United States and elsewhere in the western world will probably have to make deeper cuts.  More »

EnCap raises $6.5 billion to pour into North American oil firms

Private equity firm EnCap Investments has closed its tenth energy fund with $6.5 billion to back North American oil and gas producers, the latest firm to collect billions to pump into the shale business.  More »

Shell deal brings relief to Dutch companies used to being prey

Ten benchmark Dutch stocks, or just under half the 25 spots that make up the Amsterdam Exchanges Index, have been acquired since 2007, when ABN Amro Holding NV was snapped up for $100 billion by a consortium led by Royal Bank of Scotland Plc.  More »

The oil industry’s $26 billion life raft

The swift decline in U.S. oil prices — $107.26 on June 20, $46.39 seven months later — caught market participants by surprise.  More »

ConocoPhillips stresses shale through 2017

Flexible spending and disciplined growth will help ConocoPhillips meet its 2017 goals, executives said Wednesday.  More »

Cheniere cleared to expand Sabine Pass LNG

Federal regulators approved plans to expand Sabine Pass LNG amid growing skepticism about the viability of such projects.  More »

Ruble trims weekly gain with stocks after oil drops on Iran deal

The ruble’s strength amid weaker oil prices risks exacerbating a budget shortfall that’s forecast to be the widest since 2010.  More »

Moody’s downgrades Sabine amid financial woes

Moody’s Investors Service said $1.85 billion of the Houston oil producer’s debt is at higher risk of default after financial disclosures in its annual report Tuesday indicated it has an “unsustainable capital structure.”  More »

Oil sands developer denied bid to restructure in Canada

Connacher, an oils-sands developer, was seeking an Alberta court’s approval to swap C$1 billion ($796 million) of bonds for equity and to issue $35 million of convertible notes.  More »

Petrobras pension fund losses said to reach $1.9 billion

Founded in 1970, Petros is Brazil’s second biggest pension fund with more than 72 billion reais under management in 2013.  More »
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