It has been almost exactly two years since Exxon Mobil Corp. (NYSE: XOM) completed its $31 billion merger with XTO Energy to create the largest natural gas company in the US. Exxon’s…
The three major US stock indexes opened slightly higher this morning following the data on new US unemployment benefits claims (more coverage here) and 10-year Spanish bond yields that topped 7% (more…
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…
Jon OggThese are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Thursday. We also have many changes to the Argus Model Portfolio. ABB Ltd.…
In December 2011, before the spin-off of Phillips 66 (NYSE: PSX) from ConocoPhillips (NYSE: COP), Conoco was believed to be trying to sell its 247,000 barrel/day Belle Chase, Louisiana, refinery for $700…
As oil went from $105 to under $85 in just over a month, you can imagine that the drop was not too good for Big Oil. In fact, the news was pretty…
The current drop in crude oil prices is putting a little more cash in the pockets of consumers at the expense of the big integrated oil and refining companies. The reason is…
In a brief press release this morning, BP plc (NYSE: BP) has said that the company has “received unsolicited indications of interest regarding the potential acquisition of its shareholding in TNK-BP.” TNK-BP…
Paul Ausick China’s PMI indicates a considerable slowing of its economy. (Reuters) Senior EC and ECB officials warn that the eurozone is on the brink of a calamity. (Reuters) Problems at Research In Motion (NASDAQ:…
JP Morgan (NYSE: JPM) sells $25 billion in profitable securities to offset its trade debacle. (Reuters) The SEC examines JP Morgan financial reports. (Reuters) Marubeni buys U.S. grain company Gavilon Holdings for $3.6 billion.…
The sixth-largest crude refinery in the US, in Whiting, Indiana, has the capacity to turn more than 400,000 barrels/day of crude into useful products like gasoline and jet fuel. BP plc (NYSE:…
The month-long slide in crude oil prices has chopped the share price of many of the biggest names in the oil patch. Exxon Mobil Corp. (NYSE: XOM) is about -4% in the…
The major US stock indexes opened sharply lower this morning as weak performance in the European markets as traders try to figure out what last weekend’s elections mean. Crude oil was also…
Jon OggThese are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Tuesday. AECOM Technology Corporation (NYSE: ACM) Cut to Underperform at BofA/ML. Alnylam Pharmaceuticals,…
At an energy conference in Paris today, the secretary general of OPEC, Abdalla Salem el-Badri, said that the cartel is “not happy” with crude oil prices in the $110-$130/barrel range and that…
