Fuel Fix

Exxon Mobil Corp. CEO Rex Tillerson speaks to 2015 IHS Energy CERAWeek. (Billy Smith II/Houston Chronicle)

Exxon Mobil earnings fall 52 percent

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Categories: Crude oil, featured
Lower prices cost oil and gas giant Exxon Mobil’s upstream business $4.5 billion, the company said.

Exxon Mobil earnings fall 52 percent

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Categories: Crude oil, featured
Exxon Mobil Corp. CEO Rex Tillerson speaks to 2015 IHS Energy CERAWeek. (Billy Smith II/Houston Chronicle)
Lower prices cost oil and gas giant Exxon Mobil’s upstream business $4.5 billion, the company said.
(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”

(David Paul Morris/Bloomberg)

Chevron to cut 950 jobs in Houston, 1,500 companywide

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Chevron currently counts about 8,000 Houston-area employees and fewer than 65,000 workers worldwide. Chevron had closer to 9,000 Houston workers two years ago.
View of the Abkatun A-Permanente platform on fire on the Gulf of Mexico's Campeche Sound on April 1, 2015. An explosion and a fire erupted on an offshore oil platform operated by Mexico's Pemex on Wednesday, killing at least four workers, injuring 16 and forcing 300 to be evacuated.    (AFP PHOTO/ STRSTR/AFP/Getty Images)

Pemex reports 11th straight loss

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Pemex’s earnings were crimped after U.S. benchmark oil prices fell an average 44 percent from 2014 and production slid following three offshore accidents in as many months.

TO GO WITH AFP STORY "CHILE-COPPER-CHINA" A couple of gigantic Komatsu 930, 330 metric-tonne lorries arrive with their load at the Chuquicamata copper mine, in the desert town of Calama, 1,000 kms north of Santiago, Chile, 25 October 2005. Chuquicamata, the world biggest opencast mine, is 4.3 kilometers long, 3 kms wide and 825 meters deep. As all the other mining enterprises in Chile, it was nationalized in 1971 by late Chilean President Salvador Allende. AFP PHOTO MARTIN BERNETTI  (Photo credit should read MARTIN BERNETTI/AFP/Getty Images)

Freeport-McCoRan launches business review to cut costs

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The Phoenix company plans to complete the review and report on revised plans during the third quarter. It will look for ways to cut capital spending and operating and administrative costs.
Categories: Finance/Earnings
(Photo by Eddie Seal for Bloomberg News)

Billionaire said to be considering sale of U.S. shale gas holdings

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Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is weighing a sale of its U.S. shale gas investments, people with knowledge of the matter said.
The 29-week plunge in the oil rig count takes a break

NOV courting competitors amid downturn

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National Oilwell Varco said Tuesday it expects to continue making acquisitions amid low oil prices that have strained profits in the oil service and equipment industry.
Categories: Crude oil
(Eric Kayne/Houston Chronicle)

LyondellBasell sees 13 percent increase in profits

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Lyondell is expecting to continue growing its earnings in the third quarter amid continued access to swells of cheap natural gas and natural gas liquids, which the company uses as feedstock to manufacture its chemicals.
Categories: Chemicals
The head office of Statoil in Stavanger, Norway.  (AP Photo / Kent Skibstad, NTB scanpix, File)

Statoil profit beats estimates

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Statoil and competitors such as Royal Dutch Shell Plc and Total SA are cutting investments and operational costs after oil prices fell by about 50 percent over the last 12 months.