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Summary Exxon raises dividend by 4% to $1.03 per share Company on track to complete $20 billion share buyback this year Exxon incurs $510 million in restructuring costs in Q3 (Reuters) – Exxon Mobil beat Wall Street estimates for third-quarter earnings on Friday, underpinned by higher oil and gas production in Guyana and the Permian Basin, …
Exxon Beats Q3 Profit Estimates on Higher Guyana, Permian Production Read More »
Summary Hess acquisition helps boost Chevron’s quarterly profit Cash flow grows 20% year-on-year on rise in output ‘High confidence’ free cash flow will keep growing, CFO says Upstream earnings decline 28% due to lower oil prices Downstream profit jumps 91% (Reuters) – Chevron beat analyst estimates on Friday as record oil and gas production, boosted by …
Chevron Tops Q3 Earnings Estimates with Record Production After Hess Deal Read More »
Summary Brent, WTI set to fall about 3.5% in October OPEC+ lean towards modest output boost ahead of Sunday meeting, sources say Saudi prices for Asian buyers might fall in Dec. -sources China factory activity shrinks for seventh month, PMI shows (Reuters) – Oil prices were heading for a third consecutive monthly decline, slipping on …
Oil Heads for Third Monthly Decline as Dollar, OPEC+ Supply Weigh Read More »
By Ari Natter and Annmarie Hordern Oil storage tanks in Crockett, California. Photographer: David Paul Morris/Bloomberg Energy Secretary Chris Wright said the US is prepared to sell more oil and natural gas to China if Beijing cuts back on purchases from Russia. “There’s so much space for mutually beneficial deals between the US and China,” …
US Is Ready to Sell More Oil and Gas to China, Energy Chief Says Read More »
Analyst says WCS price boost reflects global shortage By Will Gibson Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Worker at an oil sands SAGD well pad in northern Alberta. Photo courtesy Strathcona Resources Once priced at a steep discount to its lighter, sweeter counterparts, Canadian oil has …
Canada’s Heavy Oil Finds New Fans as Global Demand Rises Read More »
The U.S. Army Corps of Engineers has granted approval to Canadian company Enbridge for its plan to reroute a section of its Line 5 oil pipeline around a Wisconsin tribal reservation. The Army Corps, a federal engineering service, issued a permit Wednesday for Enbridge to build a new 41-mile segment of pipeline around the Bad …
US Army Corps Approves Enbridge’s Line 5 Reroute in Wisconsin Read More »
U.S. President Donald Trump said on Thursday that China has agreed to begin the process of purchasing U.S. energy. “In fact, a very large scale transaction may take place concerning the purchase of Oil and Gas from the Great State of Alaska. Chris Wright, Doug Burgum, and our respective Energy teams will be meeting to …
Trump Says China to Begin Process of Purchasing ‘American energy’ Read More »
A judge in North Dakota on Wednesday slashed by almost half jury-awarded damages of about $667 million against environmental advocacy group Greenpeace over its role in protests against the construction of the Dakota Access Pipeline. State District Judge James Gion said the amount Greenpeace owes pipeline company Energy Transfer should be limited to $345 million, …
US Judge Cuts Standing Rock Verdict Against Greenpeace to $345 Million Read More »
By John O’Donnell and Christoph Steitz Russia’s Rosneft controls key flow of oil to Germany Rosneft swept up in Trump sanctions on Russia Berlin now mulls sidelining Rosneft BERLIN/FRANKFURT, Oct 29 (Reuters) – U.S. sanctions on Russian oil producer Rosneft (ROSN.MM) have rekindled discussions in Germany about nationalising the company’s business there, including a refinery …
Germany Examines Nationalising Rosneft Arm After Trump Sanctions, Say Sources Read More »
(Reuters) – HOUSTON, Oct 29 – U.S. crude stocks and gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories dropped by 6.86 million barrels to 416 million barrels in the week ended October 24, the EIA said, compared with analysts’ expectations in a Reuters poll for a 211,000-barrel …
US Crude Stocks, Gasoline and Distillate Inventories Fall, EIA Says Read More »
