Mounting debt among oilfield service companies coupled with soft oil prices squeezes the sector. Oil prices hovering close to $40 per barrel is compounding the problems that dozens of struggling Continue Reading
Oil industry cost cuts for 2015 to 2020 total $1 trillion Service providers that reduced rates say discounts to end Mad Dog, BP Plc’s drilling project deep in the Gulf Continue Reading
China Oil French Total has emerged as perhaps the smartest member of the Big Oil club, wasting no time waiting for oil prices to return to early 2014 levels, instead, Continue Reading
How do you ride out low oil prices and still pay dividends and CEO salaries? You double down on debt, apparently. All oil majors posted plunging profits or accumulated losses Continue Reading
The lawyer for Ecuadorian victims fails to sway a U.S. court that he didn’t act illegally. Now, more appeals in the 23-year-old case. Protesters demonstrate in front of a New Continue Reading
Net debt for top five oil firms has risen tenfold since 2008 Big oil companies tell investors debt load will rise further When commodity prices crashed in late 2014, oil Continue Reading
Chevron Corp. is paring its Asia operations, selling assets worth up to $5 billion in an effort to raise cash, according to people familiar with the situation. The California-based energy Continue Reading
BP and Shell are trading with dividend yields above 7%, while Eni, which cut its… It all seemed to be going so well, but European oil groups have stumbled again. Continue Reading
Exxon posts worst profit in 17 years, missing estimates Chevron’s third straight loss capped longest streak in decades Exxon Mobil Corp. and Royal Dutch Shell Plc this week reported their Continue Reading
WTI oil pared losses on Friday morning, breaking with a 6 day streak of losses. U.S. oil production also saw a slight increase, mainly due to higher output in Alaska Continue Reading
ExxonMobil reported on Friday earnings of US$1.7 billion for the second quarter, a 59-percent tumble on the year, amid sharply lower commodity prices and weaker refining margins. Earnings per share Continue Reading
It is looking like another lost year for the world’s biggest oil companies, as profits shrank dramatically during the second quarter and they now face a volatile end to 2016 Continue Reading
Estimated quarterly earnings for Exxon Mobil Corp. were down about 60 percent from last year, the company said, pointing to sharply lower energy prices. Exxon reported second quarter earnings at Continue Reading
Chevron Corp ( CVX.N ) posted its worst quarterly loss since 2001 on Friday and Exxon Mobil Corp ( XOM.N ) reported a 59 percent slide in quarterly profit, both Continue Reading
Royal Dutch Shell’s ( RDSa.L ) chief executive, Ben van Beurden, has told investors that Britain’s decision to exit the European Union could slow its $30 billion asset sale plan, Continue Reading
Surviving the oil price crisis is tough enough on its own, but some oil industry players have had particularly bad luck, and some, such as Chevron, may very well have Continue Reading
Royal Dutch Shell ( RDSa.L ) said it will work with the British government and European institutions on any implications for its business from Britain’s decision to leave the European Continue Reading
Having turned round its North American shale business, Royal Dutch Shell is putting so-called unconventional energy at the heart of its growth plans, and believes lessons from the revamp can Continue Reading
BP Plc can keep spending at a reduced rate of about $17 billion for another three years without affecting growth, Chief Executive Officer Bob Dudley said. The explorer has enough Continue Reading
Royal Dutch Shell Plc Chief Executive Officer Ben Van Beurden spelled out his main goal last week — surpass Exxon Mobil Corp. to become the best-performing oil major. “I am Continue Reading
The latest Fortune 500 list has four oil majors in the top 100 – Exxon, Chevron, Marathon Oil, and ConocoPhillips – and another one, Devon Energy at 219. All of Continue Reading
The oil majors are at a crossroads and there are growing signs that their business model can no longer last. The combined effects of cheap oil, the increasing difficulty in Continue Reading
Shareholders in ExxonMobil have backed a resolution calling for investors to have greater powers to nominate board members, as the oil company faces growing pressure over its position on climate Continue Reading
The images of journalists were reflected in the sunglasses of a drilling manager at a… Shareholders at Exxon Mobil Corp. and Chevron Corp. narrowly voted down resolutions calling for stress Continue Reading
At least 5,000 jobs will be cut around the world this year Royal Dutch Shell Plc will cut 2,200 more jobs, taking the total tally of losses to 12,500 from Continue Reading
The world’s biggest oil companies are borrowing record amounts of money to cope with a slump in crude prices. Luckily, there’s rarely been a better time to go on a Continue Reading
Exxon Mobil lost its triple-A credit rating Tuesday. If crude oil’s steep selloff has taught anything, it is that no energy company is immune from it—not even industry stalwart Exxon Continue Reading
