Chevron Plans to Get Slimmer
At its analyst meeting in New York Tuesday morning, Chevron trimmed its 2017 production forecast from 3.3 million barrels of oil equivalent per day to 3.1 million. Falling natural gas prices and costly project…
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Newest first · Page 294FuelCell Energy Results Won’t Slow Down Buying Frenzy
ThinkstockFuelCell Energy Inc. (NASDAQ: FCEL) reported first-quarter fiscal 2014 results after markets closed Monday afternoon. The fuel cell maker reported an adjusted diluted earnings per share (EPS) loss of $0.04 and $44.4 million in…
Petrobras Raising Billions in Capital Again — at the Lows
ThinkstockPetróleo Brasileiro S.A. (NYSE: PBR), or Petrobras for the rest of us, has embarked upon another large capital raise. While this is nothing compared to its huge equity offering of the past, it is still…
Steelworkers Union Opposes U.S. Crude Oil Exports
As the argument heats up on whether the United States should revoke its 40-year ban on crude oil exports, interest groups will be choosing sides and adding their voices to the discussion. Monday's addition…
Gas Prices Jump 10 Cents in Two Weeks
ThinkstockBetter access to crude oil, driven by shale oil and refinery capacity, were supposed to slow or reverse the rising price of gasoline well before the summer driving season. That has not happened, as…
U.S. Crude Exports Have Virtually Started
ThinkstockThe 1970s ban on exporting U.S. crude oil may or may not be lifted, but that is not going to slow down the export of what we might call ‘near-crude’. New, low-cost plants that…
Canada OKs First Pipeline to Carry Crude From Alberta to Montreal
ThinkstockThe Canadian National Energy Board on Thursday approved a plan by Enbridge Inc. (NYSE: ENB) to reverse the east-to-west flow of crude oil and permit the company’s Line 9B pipeline to transport crude from…
Natural Gas Supply Dwindles, Prices Do Not
thinkstockThe U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks decreased by 152 billion cubic feet for the week ending February 28. That compared to an expected drop of 140…
Exxon to Cut Capex, Even as Production Costs Rise
Exxon Mobil said Wednesday morning that capital spending in 2014 will decrease from $42.5 billion in 2013 to $39.8 billion, a drop of 6.3%.
Crude Oil Inventories Rise, Gasoline Supplies Drop
According to the U.S. Energy Information Administration, U.S. commercial crude inventories increased by 1.4 million barrels last week, maintaining a total U.S. commercial crude inventory of 363.8 million barrels.
Gasoline Prices Up for 25 Consecutive Days
ThinkstockGasoline prices in the United States continue their seemingly inexorable path higher, putting up an average price per gallon of $3.46 on Tuesday, the 25th consecutive day that prices have increased. On the same…
D-Day at McDermott
After falling more than 10% in after-hours trading on Monday, shares of McDermott International were still down sharply Tuesday morning. This after quarterly results disappointed and the company withdrew its previous guidance.
McDermott International Posts Huge Surprise Loss
ThinkstockMcDermott International (NYSE: MDR) reported fourth quarter and full-year 2013 results after markets closed Monday. The offshore oilfield engineering and construction firm posted a diluted earnings per share (EPS) loss of $1.37 per share…
A Modest Proposal: Oppose Russian Move Into Ukraine by Flooding Market With Oil
ThinkstockIn his weekly “Notes at the Margin” newsletter, energy economist Philip Verleger proposes that President Obama and Congress agree to release a significant amount of U.S. crude oil stockpiles from the Strategic Petroleum Reserve…
Stock Winners From Natural Gas Storage Depletion
The polar vortex has provided America with one of the coldest winters in the past 30 years. According to Jefferies analysts, the country has less natural gas in storage that we have had in…