Shares of Halliburton (NYSE: HAL) fell almost 2% before the open to $35.75 after the oil infrastructure and service company ann0unced frouth quarter earnings The firm reported income from continuing operations for…
Douglas A. McIntyre The first of the big oil field services to report quarterly earnings is also the largest: Schlumberger Ltd. For the full fiscal year, the company reported revenue of $39.54 billion and diluted,…
The CFO of Transocean Ltd. (NYSE: RIG), Ricardo Rosa, is retiring from the company effective April 30th, and is resigning effective January 31st. Rosa joined Transocean in 1999 in an acquisition. He…
The markets will await several critical pieces of data over the next several days. Stocks likely will not move much until this information is out. December car sales will show whether consumers…
Wall St. expects same-store sales for December to rise 4.3%. (Reuters) Returns of holiday online gifts are expect to reach a record. (Reuters) Venezuela says it will pay Exxon Mobil (NYSE: XOM)…
When Iraq began offering leases to its vast oil deposits a couple of years ago, there weren’t a lot of big oil companies lined up to buy in. Iraq’s offer of reimbursing…
This morning’s weekly petroleum status report from the US Energy Information Administration noted a particularly steep — and unexpected — drawdown in oil stocks. Crude inventory fell by 10.6 million barrels, far…
US regulators issued five new safety violations to BP plc (NYSE: BP) The actions were in reaction to the Deepwater Horizon accident of nearly 20 months ago which sent an oil slick over…
Eurozone on notice. The situation in Europe, so promising just days ago, took a sharp turn for the worse. S&P put 17 nations in the euro area on credit watch and said it…
S&P’s threat of a downgrade of eurozone nations puts huge pressure on the region’s leaders. (Reuters) An independent panel that reviewed the financial activity of Olympus suggests legal action be taken. (Reuters)…
BP (NYSE: BP) claims that partner Halliburtong (NYSE: HAL) hide evidence about its role in the Deepwater Horizon incident. Each company faces huge liability because of the explosion of the rig and subsequent oil leak.…
Share prices for the oil field services companies dipped in late July shortly after many of the companies had posted new 52-week highs. The stocks have been struggling since then, primarily as…
It isn’t every day that a $7.1 billion deal falls through. Even rarer is a seller’s reaction that amounts to, “What, me worry?” But that’s what occurred over the weekend as BP…
Following last year’s disaster in the Gulf of Mexico, oil drillers and field services companies watched their shares fall more than -20% in most cases as prospects for exploration and production dropped.…
Today was a day of red that went to a day of green. Earnings were at first a disappointment, and producer price index came out far hotter at +0.8% on the headline…
