As John David Rockefeller discovered at the end of the 19th Century, there is not much money in refining crude if the supply is not abundant. The US has been a net…
Douglas A. McIntyre Anadarko Petroleum Company (NYSE:APC) announced another significant Gulf of Mexico discovery this morning. The new discovery offers 300 feet of net oil pay, in addition to Anadarko’s other Gulf of Mexico find…
This morning, we got see two of the "biggest of the big" in the Big Oil complex report earnings. You are seeing much more conservative earnings from Exxon Mobil Corp. (NYSE: XOM)…
Exxon Mobil Corporation (NYSE:XOM) is set to report earnings tomorrow morning. With what has happened to the price of oil over the last 6 months, it is with some surprise that shares…
These are some of the top pre-market analyst downgrades and cautious calls we are seeing this Thursday morning: Affymetrix (AFFX) Cut to Underweight at JPMorgan. Air Products (APD) Cut to Neutral at…
ConcocoPhillips Corporation (NYSE:COP) confirmed today its week-ago operations update that the company would take a $34 billion non-cash impairment charge in the fourth quarter of 2008. Adjusted earnings, after the charge, were…
These are some of the top pre-market downgrades and cautious calls we have seen from Wall Street analysts this Wednesday morning: Amylin Pharmaceuticals (AMLN) Cut to Sell at Canaccord Adams. Biogen Idec…
The Canadian government is reported to have offered financial support to the Mackenzie Valley gas pipeline project. Imperial Oil, a wholly-owned subsidiary of Exxon Mobil Corporation (NYSE:XOM), leads the project, which includes…
Yesterday’s story about Venezuela opening the bidding for its oil resources raised an interesting question. What are the chances that Exxon Mobil Corporation (NYSE:XOM), with nearly $40 billion in cash at the…
Judged by the country’s performance in extracting hydrocarbons, Venezuela under President Hugo Chavez has not been a smashing success. Ten years ago, when Chavez first came to power, the country produced about…
For the latest reported period, ending December 31, short sellers did not make any notable moves in or out of tech, financials, or industrial shares. What they did do was take impressively…
According to Reuters, Citigroup (C) is near a deal to form a venture putting its brokerage business together with the one at Morgan Stanley (MS) Citi would be paid about $2 billion.…
Chevron Corporation (NYSE:CVX) already gave its severe earnings warning and we have already seen layoffs coming out of Schlumberger Limited (NYSE: SLB). and its dragging down share prices for the other oil…
If you have somehow managed to be out since last summer when the oil boom was still in full-speed, there is one issue you would not have guessed was coming this quick:…
Last summer, a gallon of gas cost over $4. Now the prices has dropped below two bucks and is still falling. The sharp drop in crude oil is to blame. Intuition would…
