6:57am ET
Energy
Chevron Refinery Explosion
A drop in the supply of oil from the North Sea and the explosion at a Chevron Corp. (NYSE: CVX) refinery in California show just how fragile the crude supply chain is.…
Douglas A. McIntyre CVX Coverage Page 131
Douglas A. McIntyre 6:38am ET
Investing
What’s Important in the Financial World (8/9/2012)
Foreclosure starts increased for the third month in a row in July, according to industry research group RealtyTrac. The firm reported: U.S. Foreclosure Market Report for July 2012, which shows foreclosure filings…
Douglas A. McIntyre 10:54am ET
Energy
Crude Inventories Fall Sharply, Prices Jump
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 9:32am ET
Energy
Chevron Earnings Report Highlights Refining Sector Sweet Spot
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…
7:32am ET
Investing
U.S. Stock Futures Rise Ahead of Q2 GDP Report
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…
4:04pm ET
Investing
24/7 Wall St. Closing Bell — July 26, 2012: Market Jumps on ECB President’s Vow
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…
8:19am ET
Energy
Iraq Shoots Down Chevron
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…
7:42am ET
Energy
China’s CNOOC Swallows Canadian Oil and Gas Company
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 9:39am ET
Energy
BofA/Merrill Lynch Cuts 2012 & 2013 S&P 500 Targets
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…
8:29am ET
Investing
Top Analyst Upgrades & Downgrades (ADTN, AMCX, ADM, BBVA, BHP, CSIQ, CVX, DAL, FDO, FDX, HSH, JBLU, LXK, LDK, MRK, PG, RHT, LUV, SPWR, SVU, TSN, UAL, VLO, DIS)
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…
7:20am ET
Jobs
Norway Ends Lockout Threat in North Sea Oil Fields
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.…
1:02pm ET
Jobs
Norway Prepares to Lockout Offshore Oil Field Workers
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…
7:39am ET
Energy
Gulf of Mexico Lease Sale Nets $2.6 Billion (XOM, COP, CVX, APA, RDS-A, APC, NBL, BP, BHP, STO)
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…
11:36am ET
Energy
Finally Some Good Developments For Petrobras (PBR, BP, XOM, CVX)
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…
11:38am ET
Investing
Exxon Kills Shale Gas Exploration in Poland (XOM, CVX, MRO, STO)
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…