Big Oil posts better profits on higher fuel prices
2010-07-30 05:08:31
Keywords: Big Oil posts better profits on higher fuel prices, cop,cvx,rds-a,xom, commodities
Quote: A day earlier, ConocoPhillips said net income nearly tripled in the April-June period.Chevron Corp. reports its quarterly results on Friday.The jump in profits comes as oil companies wait out a ban on deepwater drilling in the Gulf of Mexico that is scheduled to last until Nov. 30. Shell took a $56 million charge for idling its rigs while Exxon halted work on an appraisal well and suspended operations at one of its Gulf platforms.But their operations are so vast that the impact is likely to be m...
Read articleNatural Gas Rises on Small Storage Build
2010-07-30 05:08:30
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, Sung Moss ,Commodities
Quote: Fellow Dow Jones Industrial Average component ChevronCVX) is scheduled to release its corporate earnings results Friday morning, with analysts expecting earnings to land at $2.44 a share. The stock ended Thursday's session 0.6% higher.European integrated giant Royal Dutch ShellRDS.A) reported improving top and bottom-line figures in its second-quarter release. But in a release, CEO Peter Voser also said the firm continues "to see mixed signals in the global economy," while also adding that the "...
Read articleRPT-Alaska pipeline plans weekend maintenance shutdown
2010-07-29 05:21:24
Keywords: Integrated oil and gas,Energy and Resources,United Kingdom,Western Europe,Europe,United States of America,Energy,Oil and gas,Company News item,Economic news, EC, business/financial pages,
Quote: Koch Alaska Pipeline Company and Chevron (CVX.N) unit
Unocal Pipeline Co. own minor shares. None of the work scheduled for the weekend is related to
recent problems at Pump Station 9, where a power outage in May
triggered a series of events causing the entire line to shut
down for days, said Alyeska spokeswoman Michelle Egan. When it comes to scheduled summer maintenance shutdowns,
"We plan these far in advance," Egan said. "It's work that
needs to be done when the pipeline shuts down." Alyeska ...
Read articleOil, Stocks Trip on Consumer Data
2010-07-28 05:20:09
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, Sung Moss ,Commodities
Quote: Exxon MobilXOM) added 42 cents, or 0.7%, to $60.81 and ChevronCVX) increased by 68 cents, or 0.9%, to $75.30.ConocoPhillips COP)Briefing.com. Their shares advanced 0.02% and 1%, respectively.On the Nymex, the September natural gas contract rose by 6 cents, or 1.4%, to settle at $4.65 per million British thermal units. Meanwhile, both September heating oil and September gasoline shed 4 cents, or 2%. The heating oil contract settled at $2.03 a gallon and the gasoline contract settled at $2.06 a ga...
Read articleOil company results highlight refining's comeback
2010-07-28 05:20:09
Keywords: Oil and gas refining and marketing,Energy and Resources,United States of America,Integrated oil and gas,United Kingdom,Western Europe,Europe,Corporate Results,Corporate Results Forecasts,Energy,Oil and gas,Business activities,Crude Oil,Commodities and Ene
Quote: Analysts have forecast refiners profits would rebound in
the second quarter as margins at the plants firmed, a trend
that was also likely to help the integrated oil giants such as
Exxon Mobil Corp (XOM.N), Chevron Corp (CVX.N) and
ConocoPhillips (COP.N), which all combine oil and gas
production with refining operations. Valero, which is the second-largest U.S. refiner after
Exxon, but does not produce crude oil, posted a $583 million
quarterly profit versus a year-ago loss, and its earnings per
...
Read articleChevron in Australia native land title deal for plant
2010-07-28 05:20:08
Keywords: Australia,Asia,United States of America,Energy and Resources,LNG,Natural Gas,Integrated oil and gas,Commodities and Energy Markets,Energy Markets,Energy,Oil and gas,Company News item,Economic news, EC, business/financial pages,
Quote: PERTH |Wed Jul 28, 2010 2:55am EDT
PERTH July 28 (Reuters) - Chevron Corp (CVX.N) has signed
a preliminary agreement with a group of native land owners in
western Australia that will allow it to construct a liquefied
natural gas processing plant, it said on Wednesday. The securing of native land title is a milestone for the
estimated $25 billion Wheatstone LNG project and follows last
week's release of a draft environmental impact statement (EIS)
and the signing a multi-billion dollar project eq...
Read articleCrude Oil Unchanged, Just Below $79
2010-07-27 09:37:26
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, Sung Moss ,Commodities
Quote: Dow components Exxon MobilXOM) and ChevronCVX), which are expected to release their earnings results Thursday and Friday, respectively, finished ahead by 1.1% and 1.5%, respectively.June new-home salesFedEx FDX) pumped up its earnings outlook.On the Nymex, the September delivery crude contract traded in a tight range toward the end of the session, after hitting an intraday high of $79.33 a barrel. The contract settled the session unchanged at $78.98 a barrel."Home data has been mixed, so today's...
Read articleCanadian regulator says no subsea spill plan needed
2010-07-27 09:37:25
Keywords: Integrated oil and gas,Energy and Resources,United States of America,United Kingdom,Western Europe,Europe,Crude Oil,Natural Gas,Regulation and enforcement,Canada,Environment,Domestic Politics,Energy,Oil and gas,Commodities and Energy Markets,Company News
Quote: Mon Jul 26, 2010 5:27pm EDT
* Regulator doesn't require subsea spill plan * May alter regulations later * Chevron says will comply with any new rules By Scott Haggett CALGARY, Alberta, July 26 (Reuters) - Chevron Corp (CVX.N),
which is drilling Canada's only deepwater exploratory well, has
not been asked to detail plans for coping with a subsea oil
spill at its Orphan Basin drill site, off the Atlantic Coast of
Newfoundland, the province's regulator said on Monday. The Canada-Newfoundland and La...
Read articleThe Market Rally Train Is Leaving the Station
2010-07-27 09:37:23
Quote: This week we expect earnings from five DJIA components: Dupont (DD), Boeing (BA), ExxonMobil (XOM), Chevron (CVX) and Merck (MRK). Dupont leads off Tuesday, and it should boost the market with a bullish guidance for the chemicals and agriculture sectors.I’ve heard a lot lately about how the bull rally is not confirmed by (higher) volume and that volumes on the upside are anemic whereas downdrafts bring in more sellers. Normally a devout follower of price and volume (I'm a past student of J...
Read articleSecond Quarter Earnings: Companies Beat but Investors Shrug
2010-07-27 09:37:22
Keywords: second quarter earnings,earnings,stock market,eps,earnings per share,bp,us steel,conocophilips,exxon,chevron,s&p,financials,investors,investment strategy,philip morris,catalano,tech stocks,david rosenberg,make money,company earnings,josh lipton,,
Quote: Gluskin Sheff)(This week, earnings reports will continue to flood the morning papers as the front offices of BPBP), US SteelX), ConocoPhilipsCOP), ExxonMobilXOM), and ChevronCVX) tell us how they’re performing.)Barring any major write-downs in the Financials sector, market pros point out, the second quarter will mark the S&P 500’sYardeni Research)Yet, your friends and neighbors could care less: The stock market is up just 1.5% since the reporting season kicked off two weeks ago.T...
Read articleHayward leaving behind daunting tasks at BP
2010-07-26 07:41:35
Keywords: Hayward leaving behind daunting tasks at BP, apc,bp,cop,cvx,hal,rig,xom
Quote: And the other major oil companies -- Exxon Mobil, Chevron Corp., Conoco Phillips and Shell Oil -- have accused BP of failing to follow the industry standards in operating the blown-out well.Experts also say smaller companies that invest in deep-sea projects and do contract work on the rigs will think twice before working with BP again.One piece of good news for the new CEO: This person is inheriting a company with vast resources. Most experts believe BP has deep enough pockets to clean the Gulf ...
Read articleMarket: Bull, Bear or Turkey?
2010-07-26 07:41:34
Keywords: Mergers & Acquisitions, Investment Banking, I PO, I.P.O.s, IPOs, Offerings, Private Equity, Hedge Funds, Venture Capital, Legal, The New York Times, Andrew Ross Sorkin, Andrew Sorkin, DealBook, deal maker, Wall street, wall st., Goldman Sachs, Goldman Sa
Quote: stocks, but it will need another spate of convincing earnings reports to feed the rally that sprouted at the end of last week.
Federal Reservereported.
This week brings more results from bellwethers including Chevron, DuPont and Boeing. The trick will be turning the whipsaw action into accumulated gains — and hoped-for improvements in volume — that would signal an upturn in sentiment.
Wells Fargo Fund Management in Menomonee Falls, Wisconsin.
Go to Article from Reuters via The New Yo...
Read articleHayward leaving behind daunting tasks at BP
2010-07-26 07:41:33
Keywords: Hayward leaving behind daunting tasks at BP, apc,bp,cop,cvx,hal,rig,xom
Quote: And the other major oil companies -- Exxon Mobil, Chevron Corp., Conoco Phillips and Shell Oil -- have accused BP of failing to follow the industry standards in operating the blown-out well.Experts also say smaller companies that invest in deep-sea projects and do contract work on the rigs will think twice before working with BP again.One piece of good news for the new CEO: This person is inheriting a company with vast resources. Most experts believe BP has deep enough pockets to clean the Gulf ...
Read articleChevron to help build system to stem oil leaks
2010-07-22 13:23:05
Quote: Chevron Corp. and three other oil companies announced Wednesday that they will spend $1 billion designing and deploying a system to contain future deepwater oil spills in the Gulf of Mexico.
The system will be able to capture oil spewing from undersea wells as deep as 10,000 feet and pipe it to ships on the surface, handling up to 100,000 barrels per day.
The system will take an estimated 18 months to design and build and will be run by a nonprofit organization that Chevron, ConocoPhillips, Exx...
Read articleNatural Gas Holds Gains After Supply Rise
2010-07-22 13:23:01
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, Sung Moss ,Commodities
Quote: The NYSE Arca Oil index was advancing 2.8% and the Philadelphia Oil Service Sector index gaining 1.7%.Shares for Dow components Exxon MobilXOM) and ChevronCVX) were also bounding higher, adding 2.6% and 2.1%, respectively.But Diamond Offshore DrillingDO) was sitting out the market's broader move higher after reporting disappointing second-quarter results and saying it clipped its special dividend Thursday morning. Revenue fell 13% from the same time last year and earnings dropped to $1.61 a shar...
Read articleEnergy Stocks: Energy stocks get swept up in broad rally
2010-07-22 13:23:00
Keywords: Markets|U.S. & Canada, DJIA, Dow Jones Industrial Average, XOM, Exxon Mobil Corp, CVX, Chevron Corp, XOI, ARCA OIL INDEX, XNG, ARCA NATURAL GAS, OSX, Philadelphia Oil Service Sector Index, DO, Diamond Offshore Drilling Inc, RDS.A, Royal Dutch Shell PL
Quote: Exxon Mobil Corp./quotes/comstock/13*!xom/quotes/nls/xom(XOM59.68,+1.51,+2.60%) and Chevron Corp./quotes/comstock/13*!cvx/quotes/nls/cvx(CVX73.79,+1.62,+2.24%), both components of the Dow, rose about 2.6% and 2% respectively.Crude oil futures rose $2.09 to $78.65, lending strength to energy stocks.The NYSE Arca Oil Index/quotes/comstock/10t!xoi.x(XOI967.02,+26.91,+2.86%) climbed 2.6% to 964. The NYSE Arca Natural Gas Index/quotes/comstock/10t!xng.x(XNG517.59,+13.15,+2.61%) rose 2.5% to 517, and ...
Read articleOil Rises as Stocks Lag
2010-07-21 02:33:50
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, Sung Moss ,Commodities
Quote: ET the Energy Information Administration will release its own weekly stockpile statistics.By the end of Tuesday's session, ChevronCVX) was among the Dow Jones Industrial Average's top 10 performers as the stock finished with 1.5% gains at $73.10. Rival component Exxon MobilXOM) rose 0.9%, to $58.95. The Dow, meanwhile, added 76 points, or 0.7%, to close at 10,230. The NYSE Arca Oil index jumped 1.2% higher.The service segment also saw a swift move up as the Philadelphia Oil Service Sector index ...
Read articleApache Snags BP Assets For $7 Billion
2010-07-21 02:33:48
Keywords: Energy News, Utility News, Energy Industry News, Financial News, Market News, Market Coverage, Forbes News, Oil, Gasoline, Solar Energy, Petroleum, Wind Power, Electricity
Quote: oil company (by production, but not market cap) after ExxonMobil, Chevron and ConocoPhillips.
Apache says the BP assets generated roughly $800 million in gross profits last year, and will be accretive to 2011 earnings. Financing for the deal will be arranged in the coming days, with an equity offering expected to supplement Apache's $1.7 billion in cash on hand. Apache says it will pay BP $5 billion of the purchase price by the end of July.
Combine the $7 billion from Apache with the estimated $...
Read articleBP-Apache: Prudhoe Bay Was Too Complex
2010-07-21 02:33:47
Quote: But those assets ended up getting dropped from the deal because of the complexity of the ownership structure, people familiar with the matter said.
BP owns a 26% stake in Prudhoe Bay, while Exxon Mobil, ConocoPhillips and Chevron Corp. own the remaining stake.
Apache typically prefers to operate the assets they own and with Prudhoe Bay, it wasn’t certain that they would be operators of the Alaska asset, people familiar with the matter said. The elimination of the Alaskan fields from the deal h...
Read articleExodus of Rigs Hasn't Happened
2010-07-21 02:33:46
Quote: and Chevron have sought to cancel their normal obligations on some contracts. Such force majeure declarations are opposed by drilling contractors. "It's all negotiation," Mr. Hill said.The fate of Gulf deepwater drilling may ultimately depend on whether oil companies perceive that the ban will be extended, or that they'll be subjected to unreasonable rules. If so, more flight is likely, Mr. Hill said. But if the price of crude rises and political pressure subsides after the spill stops, recovery...
Read article