Goldman Sachs and $150 to $200 Oil (Part II) (GS)
Goldman Sachs (NYSE: GS) has come out and updated its "oil super-spike" prices today. In fact, it ponders whether or not the super-spike end game has begun. We covered part of this yesterday, and…
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Valero Energy Corp. (NYSE: VLO) has announced that it signed an agreement to purchase 72 convenience stores and fueling kiosks from Albertson’s LLC. The financial terms of the acquisition were not disclosed, although it…
$200 Oil: Goldman Calls The Ball: Bad News From Nigeria And Russia
Crude has bumped up against $120 several times in the last month. It wants to go higher, and it will. Price was pushed down by the Fed’s action and some improvement in the dollar.…
Up & Down the Oil & Energy Patch (CVX, DUK, PTEN, PXD, MUR)
Chevron Corporation (NYSE:CVX) reported earnings of $5.17 billion and $2.48 EPS for the first quarter of 2008. First Call had estimates at $2.41 EPS. This compared with $4.72 billion and $2.18 EPS for the…
More Ups & Downs in the Oil Patch (APA, MRO, GLF, BP)
Apache Corp. (NYSE:APA) reported net income of $1.02 billion and $3.03 EPS for the first quarter of 2008, more than double same period results for 2007 of $492 million and $1.47 EPS. Revenue jumped…
Lazard Hikes First Solar Target (FSLR)
There is an interesting call after First Solar Inc. (NASDAQ: FSLR) blew past earnings expectations and guidance today. Lazard Capital Markets alternative energy analyst, Sanjay Shrestha, has reiterated his BUY rating on the stock. …
Exxon Mobil Hikes Dividend… Confidence On Higher Oil Prices? (XOM)
Exxon Mobil Corp. (NYSE: XOM) has just given another vote of confidence on higher oil prices, or so it would seem. "BIG OIL," or dare we say "Standard Oil," has announced that it was…
This Morning in the Oil Patch.. Earnings Away! (NOV, HES, FSLR, BP, VLO)
This morning we have some key earnings from the likes of National-Oilwell Varco (NYSE:NOV) and Hess Corporation (NYSE:HES), and it wouldn’t be fair to pint out the solar earnings competition from First Solar, Inc.…
T. Boone Pickens: Energy Equities Reflect $75 Oil Rather Than $100 Oil
CNBC just hosted another interview with oil magnate and billionaire T. Boone Pickens today after the close. With recent prices of oil having been near $120 at the high, Pickens still thinks $125.00 is…
Valero Jumps Over Lowered Hurdles (VLO, BP, RDS, COP)
Valero Energy Corp. (NYSE:VLO) has reported 2008 first quarter income of $261 million, or $0.48 EPS, compared with income of $1.1 billion and $1.77 EPS for the first quarter of 2007. After VLO’s March…
The Spring Season Comes To Big Oil, Can Excess Profit Taxes Be Far Behind?
BP (BP) and Shell produced out-sized profits for the first quarter. BP earnings rose to $7.62 billion from $4.66 billion. Over at Shell the numbers were up to $9.08 billion from $7.28 billion. According…
OPEC Chief Looks To $200 Oil
The head of OPEC says that he can see oil hitting $200. OPEC’s President Chakib Khelil refuses to blame supply. His theory is that the price of the dollar is what will drive crude.…
Oil Moves To Just Under $120 Per Share
Supply concerns have moved the cost of crude to just under $120 a barrel. According to Bloomberg "Crude oil rose to a record after BP Plc shut a North Sea pipeline and gunmen attacked…
As UK Oil Workers Strike Oil Panic Spreads (BP)
One of the big oil pipelines in the UK has been shut down by a strike giving oil bulls another reason to predict higher crude prices. According to Reuters "A pipeline carrying nearly half…
Oppenheimer’s Lack of Enthusiasm for Ethanol (AVR, PEIX, VSE)
Oppenheimer has initiated coverage of the down and out US-ethanol sector, and the group was given a lackluster "Perform" rating. "Perform" ratings have been assigned to Aventine Renewable Energy (NYSE: AVR), Pacific Ethanol (NASDAQ:…