Archives for 2018
BP refineries run at 15-year high to gain from cheap Canadian oil
BP Plc ran its oil refineries at the hardest rate in 15 years during the third quarter, racing to profit from unusually cheap Canadian crude. Source: FuelFix
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Moodys says oil service debt "unsustainable"
Debt levels at oil field service companies have reached “unsustainable” levels, the debt rating agency Moody’s Investor Services said in a new report. Source: FuelFix
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Gastar files for bankruptcy with private equity backing
The financially struggling Houston firm Gastar Exploration said Monday it will file for bankruptcy with support from the company’s largest creditor and shareholder, the Los Angeles private equity group Ares Management. Source: FuelFix
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Shrinking Weatherford reports $200 million loss
Oilfield services firm Weatherford International said Monday it reported a $199 million loss in the third quarter, which still represents a small improvement from a $256 million loss last year. Source: FuelFix
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Gasoline prices, following crude, take a dive
Gasoline prices in the Houston area plunged an average of 7 cents a gallon following last week’s dive in oil prices over concerns of rising inventories, increased OPEC production and a slowing global economy. Source:...
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