Archives for 2016
FMC Technologies pays $2.5 million fine to settle charges it overstated profits
The SEC charged FMC with pressuring with energy infrastructure segment to improve financial performance. The business segment’s controller, Jeffrey Favret, and an employee who reported to him, Steve Croft, reduced the company’s costs for employee...
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Market Currents: Nigerian oil exports rebounding
As yesterday’s exceedingly mixed weekly EIA report is digested, oil prices are unwinding a good deal of yesterday’s knee-jerk rally. As dollar strength further encourages crude lower, hark, here are five things to consider in oil...
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U.S. companies know the risks of climate change; Should they be required to report them?
A nonprofit group that sets standards for disclosing the financial impact of environmental issues is calling on U.S. companies to account for the effects of climate change on their businesses. The Sustainability Accounting Standards Board...
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Better batteries, and more electric cars, could be bad news for oil industry
Oil companies should brace themselves for rapid advancements in battery technology, which could bring more electric cars to the market and drive down the demand for oil, according to a new report from Fitch Ratings...
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FMC Technologies cuts 1,000 jobs, more on the way
Oilfield equipment maker FMC Technologies warned that more job cuts are on the way through the end of the year after eliminating another 1,000 jobs in the third quarter. Houston-based FMC, which focuses primarily on...
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