The U.S. Energy Information Administration (EIA) released its weekly petroleum status report this morning. U.S. commercial crude inventories fell by 3.7 million barrels last week, bringing the total U.S. commercial crude inventory…
Paul Ausick Chevron Corp. (NYSE: CVX) managed to beat earnings despite a large drop in revenue. The oil giant reported earnings of $3.66 per share, some $0.42 better than the consensus estimate of $3.24…
U.S. stocks are poised to open higher as investors await the first reading on second-quarter U.S. GDP, and after encouraging remarks from Europe’s central bank about supporting the euro. Economists predict the…
The three major US stock indexes opened higher this morning following European Central Bank president Mario Draghi’s promise to “do whatever it takes to preserve the euro” (our coverage here). What he…
The government of Iraq has barred Chevron Corp. (NYSE: CVX) from bidding on lease contracts in central and southern Iraq, following the company’s deal with India’s Reliance Industries last week in which…
China’s largest offshore oil and gas company, CNOOC Ltd. (NYSE: CEO), has agreed to acquire Canadian oil and gas firm Nexen Inc. (NYSE: NXY) for $15.1 billion in cash, or $27.50 per…
Paul Ausick Bank of America Merrill Lynch is cutting its expectations on the S&P 500 Index, and therefore ultimately on the SDPR S&P 500 (NYSEMKT: SPY)i n its Macro/Investment Strategies call. Today’s downgrade was on…
Jon OggThese are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Thursday. There are many reports this morning! ADTRAN Inc. (NASDAQ: ADTN) Cut to Hold…
The government of Norway has ended a 16-day strike against offshore oil and gas producers and killed the threat of an industry lockout that was set to begin at midnight last night.…
An association representing oil companies working on Norway’s continental shelf is preparing for a lockout against striking workers beginning at midnight tonight. If the lockout is enforced, about 6,500 workers will be…
The US Department of Interior’s Bureau of Ocean Energy Management (BOEM) yesterday held a lease sale for 39 million acres of US outer continental shelf open for development. The total of all…
Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, has been one painful oil stock for investors. In some cases, the ride has been even worse than the wealth destruction brought on by oil…
Based on early geological studies, Poland was believed to be sitting on about 187 trillion cubic feet of natural gas locked up in the same kinds of shale formations that have yielded…
When Delta Air Lines Co. (NYSE: DAL) agreed to buy an oil refinery from Phillips 66 (NYSE: PSX), the transaction underscored a shift that has been taking place in refinery ownership. Pure…
A rate cut in China prompts some economists to worry that May economic data will be weak. (Reuters) In the wake of its ratings downgrade by Fitch, Angela Merkel says that the…
