China Still Has Money To Loan Brazil $10 Billion
The economy in China may not be so troubled as some experts say. The world’s most populated nation would like to loan Brazil $10 billion to develop tremendous new oil fields off its coast…
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Newest first · Page 472Hess Reins in Capital Spending (HES)
In 2006, Hess Corporation (NYSE:HES) invested $3.84 billion in capital spending. Last year, the company spent $3.58 billion, and while the figure for this year isn’t final yet, Hess planned to spend about $5…
OPEC Finally Comes To Its Senses, Prepares Production Cuts
OPEC is sending strong signals that it will cut production ASAP before Venezuela and Iran have to file for bankruptcy and Putin is thrown into irons for ruining Russia’s economy. (Russia is not an…
Cutting CapEx Still Popular (VQ, XOM, CVX)
It’s no longer news when an oil E&P company cuts its capex budget. As oil prices fall, profits are squeezed and companies rein in discretionary spending, of which capex is a principle component. So,…
Evergreen Energy’s Wishful Thinking Announcement (EEE)
So, your company’s stock is trading at nearly 90% below its 52-week high, and estimates for the current quarter point to a continued loss. What do you do? If you’re Evergreen Energy (NYSE: EEE),…
Oil At $25, Gas At A Buck?
More people in the oil industry and the services businesses that support it are going to be out of work soon. That is because crude dropped from $147 to under $50. Venezuela could be…
An Irony In Low Oil Prices
When oil got over $140 a barrel, there were grave concerns that huge numbers of people could be put out of work. Airlines and auto companies could not afford high gas prices. People were…
Equitable Resources Plans 2009 CapEx (EQT)
Before the market opened this morning, Equitable Resources (NYSE:EQT) announced a capital expenditure budget of $1 billion for 2009. This amount is down from Equitable’s expected capex of $1.4 billion this year. The company…
Schlumberger Confirms Lower 2008 Profit (SLB)
Oil field services giant Schlumberger (NYSE:SLB) confirmed yesterday that its gross profit for the full 2008 fiscal year would come in below analysts" estimates. The stock closed off about 3% yesterday and shares are…
Precision Drilling: The Grey Wolf Saga Continues (PDS, GW)
The merger between Precision Drilling (NYSE:PDS) and Grey Wolf (NYSE:GW) could turn into the longest running soap opera on Wall Street. Our story last month summed up the action so far. Last night, Precision…
Nexen: Another Foray from France (NXY, TOT)
The FT reported that Canadian oil company Nexen (NYSE:NXY) is being courted by France’s Total SA (NYSE:TOT). Total could be preparing a bid for as much as $16 billion for the Canadian company. Total…
Kinder Morgan Starts Ethanol Pipeline (KMP)
Until today, every drop of ethanol used in transportation fuel has been moved by trucks or train cars. This added to the cost of getting ethanol to market and to the amount of total…
What About OPEC? Some Members Big Winners, Other Lose Big
OPEC is once more rattling the saber of crude oil production cuts in an effort to prop up the price of the black stuff. Whether the cartel will be successful in its aims is…
Chevron: Claim for Environmental Damages in Ecuador Rises to $27 Billion (CVX)
When Chevron (NYSE:CVX) swallowed Texaco a few years back, one of the morsels it ingested was a claim for environmental damage to several Texaco drilling sites in Ecuador. Unlike Chevron’s recent exoneration in a…
Chesapeake Wants To Print Money (CHK, BP, STO, PXP)
Chesapeake Energy Corp. (NYSE:CHK) filed three documents with the SEC on Friday. One replaces a shelf registration that expires on December 5, the second authorizes the issuance of up to 50 million shares of…