Oil Demand Hurt by Economy — IEA
The International Energy Agency (IEA) report on oil demand was another signal of a global economic slowdown that is now likely to last through 2013. In its August Oil Market Report (OMR), the agency…
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In its August report on the global oil market, OPEC forecasts that demand growth for crude will grow by 900,000 barrels a day in 2012, unchanged from July’s report. The cartel is less certain…
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. Each incident…
SunPower’s Results Not Just Mixed, but Mixed Up (SPWR)
SunPower Corp. (NASDAQ: SPWR) reported second quarter adjusted EPS of $0.08 and $595.9 million in revenue after the markets closed today. The company posted an EPS loss of -$0.19 for the same period a…
U.S. Midwest hit by Perfect Gasoline Storm
Retail gasoline prices in the U.S. Midwest were as much as 50 cents higher than in the rest of the country. By Monday, the price of a gallon of regular unleaded jumped 13 cents…
As Pipelines Continue to Spill Oil, Tansport by Rail Becomes more Popular
The Association of American Railroads reports the number of rail tankers carrying crude oil and petroleum products in the United States increased more than 35 percent during the first six months of the year…
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 to 369.9…
MEMC Soars on Earnings, Revenue, Decent Forecast (WFR, FSLR, SPWR, TSL)
MEMC Electronic Materials Inc. (NYSE: WFR) reported second-quarter adjusted earnings per share (EPS) of $0.14 and $933.4 million in revenue before markets opened today. EPS for the same period a year ago came to…
EIA Lifts & Tweaks Energy Price/Demand Expectations
The U.S. Energy Information Administration has adjusted its energy use forecasts in an early August update. Usually we see reports come earlier but this appears to be another adjustment. Covered today are uses and…
Foreign Drilling Rig Count Falls in July (BHI, PBR, SLB, HAL, WFT)
Oil field services company Baker Hughes Inc. (NYSE: BHI) this morning reported that its count of foreign oil & gas drilling rigs fell from 1,285 in June to 1,264 in July. June’s total foreign…
Analyst Bull Case Drives First Solar
After looking back over an analyst call on First Solar, Inc. (NASDAQ: FSLR), there is an interesting take. We would caution that the bullish case may seem too good to be true. We would…
Lots and Lots of Action in the Kinders (KMP, KMI, KMR)
Today looks to be a busy one for the Kinder Morgan family of companies. Kinder Morgan Energy Partners L.P. (NYSE: KMP) has announced that it will acquire the Tennessee Gas Pipeline and other assets…
Brent Crude Above $109
Oil prices continued to inch up as Brent crude crossed above $109. A belief that economic stimulus may be put into place from Europe to China has encouraged investors to gamble that supply will…
Chesapeake Fails to Impress, but Shares Rise Anyway
Chesapeake Energy Corp. (NYSE: CHK) reported third-quarter adjusted EPS of $0.06 and $3.39 billion in revenue after markets closed today. EPS for the same period a year ago totaled $0.76, and last year’s revenue…
Plains All American Pipeline Adds to Rail Capacity
Pipeline MLP Plains All American Pipeline LP (NYSE: PAA) will build a new crude oil rail facility in Tampa, Colo., to receive and transport up to 68,000 barrels per day of crude in the…