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BP Faces $17.5B Q2 Hit, Expects Lower Oil Prices
Monday, June 15, 2020 - 7:14am | 385Read More...BP plc (NYSE: BP) is writing down $17.5 billion in assets in the second quarter and forecasting lower oil prices. The oil company said Monday that it has revised its long-term price predictions and is lowering them and extending the period covered to 2050. “These actions will lead to non-cash...
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BP Cuts 10K Jobs As Coronavirus Hits Oil Demand
Monday, June 8, 2020 - 1:29pm | 346Read More...BP plc (NYSE: BP) is cutting 10,000 jobs following a global slump in demand for oil due to the coronavirus crisis, CEO Bernard Looney announced Monday. The pandemic drove the price of oil to less than $20 a barrel; it has since recovered to around $41 a barrel. Looney held a webcast to...
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GasBuddy Analyst Talks Battered Oil Industry, Why Gasoline Prices Aren't Lower
Thursday, April 30, 2020 - 4:30pm | 802Read More...Patrick DeHann, head of petroleum analysis at GasBuddy.com, joined Benzinga’s PreMarket Prep show this week to discuss the state of the U.S. and global oil markets. A pricing war between Saudi Arabia and Russia, travel shutdowns associated with the coronavirus (COVID-19) outbreak and U.S...
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Exxon Mobil Says Q4 Earnings Will Benefit From Var Energi Sale
Friday, January 3, 2020 - 11:22am | 279Read More...A Friday 8-K filing by Exxon Mobil (NYSE: XOM) shows the company expects to gain $3.4 billion to $3.6 billion from the sale of its upstream Norwegian oil and gas assets, lifting its fourth-quarter earnings results. Exxon Mobil agreed to sell its Norwegian oil and gas assets...
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Russia and China Open $55B Natural Gas Pipeline
Tuesday, December 3, 2019 - 11:17pm | 385Read More...The People’s Republic of China and the Russian Federation have been increasingly warming their ties, and the latest gas pipeline could take their relationships further. What Happened The leaders of the two countries Vladimir Putin and Xi Jinping inaugurated the $55 billion pipeline project on...
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3 Trending Oil And Gas Stocks Amid Trade War, Middle East Tensions
Thursday, October 17, 2019 - 3:55pm | 619Read More...With tension mounting in the world’s top oil producing region, oil and gas stocks have trended in interest and volatility in recent months. Here’s a look at three trending energy stocks seeing increased interest. Petroleo Brasil/ADR (NYSE: PBR) Valero Energy Corporation (NYSE: VLO)...
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Gas Price At Pump Could Rise Moderately Following Strikes On Saudi Facilities
Monday, September 16, 2019 - 9:24am | 545Read More...A drop in oil production caused by a weekend drone attack on Saudi oil facilities is likely to push U.S. gasoline prices higher, industry analysts said as crude prices surged Monday. Analyst: No Major Uptick Expected The good news for American consumers is that prices at gas pumps were fairly...
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The Most Represented Industries On OTCQX
Thursday, September 12, 2019 - 10:23am | 762Read More...This article is from Benzinga’s Partner Content team The U.S. equities universe is a lot larger than most people realize. While there are over 6,000 stocks that trade on the NYSE and Nasdaq—the two largest U.S. exchanges—U.S. investors actually have access to over 10,000...
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Booneisms: 8 Things We Learned From T. Boone Pickens
Thursday, September 12, 2019 - 8:02am | 810Read More...T. Boone Pickens, who died Wednesday at 91, shook up the corporate world in the 1980s with his hostile takeover attempts. He was also a titan of U.S. oil and gas exploration — starting out as a wildcatter — and made and lost fortunes on the markets. Pickens, who was also a force in...
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BMO Offers A Few Reasons To Like AltaGas
Monday, September 9, 2019 - 12:58pm | 372Read More...Shares of Altagas Ltd (TSE: ALA) remain below its 2018 highs but is now trading at a valuation which more than accounts for any ongoing concerns, according to BMO. The Analyst BMO analyst Ben Pham upgraded AltaGas' stock rating from Market Perform to Outperform with a price target lifted from $...
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Weekly Fuel Report 9-3-19
Wednesday, September 4, 2019 - 4:14pm | 34Read More...Image Sourced from Pixabay
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BMO Remains Whitecap Resources Bull After Business Update
Tuesday, August 27, 2019 - 3:11pm | 370Read More...The Candian TSX-listed oil and gas company Whitecap Resources Inc (TSX: WCP) (OTC: SPGYF) announced Monday that it will take a "more cautious approach" to manage costs and improve its balance sheet. The Analyst BMO Capital Markets analyst Ray Kwan maintained an Outperform rating...
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Explosion At Largest East Coast Refinery Sends Gas Prices Higher
Friday, June 21, 2019 - 7:49am | 402Read More...The largest refinery in the east coast suffered an explosion Friday morning, which prompted a move higher in gas future prices. What Happened Philadelphia Energy Solutions is a 1,300-acre complex with a capacity of 335,000 barrels a day, CNBC reported. At around 4:00 a.m. ET, a large explosion...
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Buffett Puts $10B Behind Occidental Petroleum In Bid For Anadarko
Tuesday, April 30, 2019 - 8:20am | 440Read More...Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) confirmed it invested $10 billion in Occidental Petroleum Corporation (NYSE: OXY) on condition the oil and gas giant completes its proposed acquisition of Anadarko Petroleum Corporation (NYSE: APC). What Happened A jet...
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Inexpensive Stocks Found In This Sector
Monday, February 11, 2019 - 1:30pm | 502Read More...Energy stocks and exchange traded funds endured a rough week last week as oil prices pulled back, but the sector remains a credible destination for value hunters. The iShares U.S. Energy ETF (NYSE: IYE) lost 3.17 percent last week, but remains higher by nearly 10 percent year-to-date. What Happened...
