Archives for July 2016
FMC cuts 1,000 jobs as it preps for merger
Particularly hurt by falling revenues in U.S. shale, FMC posted a minuscule net profit of $2.2 million, or 1 cent per share, for the second quarter — better than many others reporting big losses —...
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Market Currents: Mexico oil exports drop, shift away from U.S.
After a mixed bag of economic data, crude is charging lower, with a hangover from yesterday’s inventory report and on ongoing concerns of bloated inventories. Hark, here are five things to consider in the oil...
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U.S. energy consumption down again in 2015
The almost decadelong decline in U.S. energy consumption continued in 2015. According to a new report from the U.S. Energy Information Administration, overall energy use fell to 97,523 trillion British thermal units – contributing to...
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Exxon grabs reins in InterOil hunt as rivals bow out
Exxon Mobil Corp. has a clear path to expanding its reach in Papua New Guinea after its rivals said they wouldn’t counter a $2.5 billion bid for gas explorer InterOil Corp. Oil Search Ltd. and...
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Drilling, IPO unaffected by oil price, Saudi Aramco chief says
Saudi Arabia’s oil and natural gas production and drilling activities are unaffected by crude prices at current levels, the state-run producer’s chief executive officer said, signaling that the world’s biggest oil exporter will continue to...
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