The West Texas sky silhouettes a Linn Energy pumpjack in the Permian basin. (Linn Energy)

Linn Energy stock plummets as it weighs potential bankruptcy

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Linn’s stock value dropped Friday from $1.20 a unit at Thursday’s close down to about 50 cents per unit after the struggling, heavily-indebted business said Thursday it is considering all strategic options, including a bankruptcy filing.
A flame blazes on top of a gas burn off venting pipe on the Armada gas condensate platform, operated by BG Group Plc, in the North Sea, off the coast of Aberdeen, U.K., on Thursday, Dec. 10, 2015. Royal Dutch Shell Plc got clearance from antitrust authorities in China for the takeover of BG Group Plc, removing the final regulatory hurdle for its biggest-ever deal. Photographer: Simon Dawson/Bloomberg

BG fourth-quarter profit declines 54 percent

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Oil’s collapse has affected BG less than some of its peers because it’s one of the few producers increasing output as projects start in Australia and Brazil.
Warren Buffett -- chairman, president & CEO of Berkshire Hathaway -- gestures during a 2013  interview.  (AP Photo/Nati Harnik, File)

Buffett’s firm now owns nearly 14 percent of Phillips 66

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Berkshire now owns 73.98 million Phillips 66 shares worth roughly $5.9 billion.
T. Boone Pickens speaks at the 2014 LNG Conference Jan. 22, 2014, in Houston.  (Eric Kayne/For the Chronicle)

T. Boone Pickens cashes out on oil, awaits time to get back in

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Pickens has sold all his oil holdings and is waiting for the best moment to get back in, he said Thursday in an interview on “Bloomberg Go.”
The head office of Statoil in Stavanger, Norway.  (AP Photo / Kent Skibstad, NTB scanpix, File)

Statoil reports larger 4th quarter loss after oil price drop

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CEO Eldar Saetre said the company was stepping up its cost-cutting program and reining in spending.
(AP Photo/Kevork Djansezian, file)

Occidental posts losses of more than $5 billion

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The Houston-based oil and gas producer said it booked a total of $5.4 billion of after-tax charges, mostly due to cheap oil eroding the value of its assets.
Ryan Lance, chairman and CEO of ConocoPhillips ( Marie D. De Jesús / Houston Chronicle )

ConocoPhillips CEO: Oil downturn could stretch into 2017

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ConocoPhillips, the No. 3 U.S. oil company, announced a quarterly loss on Thursday and said it is cutting its shareholder dividend by two thirds.
In this Monday, April 7, 2014 file photo, a flag bearing the company logo of Royal Dutch Shell flies outside the head office in The Hague, Netherlands. (AP Photo/Peter Dejong, File)

Shell prepares to remake itself into gas giant after BG Group deal

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The Anglo-Dutch oil major’s upstream earnings fell 71 percent to $493 million, though the company said lower costs offset the plunge.
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Weatherford to cut 6,000 jobs in first half of 2016

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The job cuts will have brought the company’s workforce down by 20,000 since the oil-market crash began in 2014.
(Spencer Platt/Getty Images)

Strong company earnings, oil recovery send stocks higher

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The price of oil turned higher after a two-day slump.