Archives for October 2019
The late Aubrey McClendon's Permian business merges with parent to avoid bankruptcy
The Permian Basin business of the late shale pioneer Aubrey McClendon merged its assets with its parent company to avoid bankruptcy for now. Source: FuelFix
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Saudi Aramco to delay launch of its initial public offering
Saudi Aramco’s stop-start initial public offering was delayed again just days before a planned launch as doubts re-emerged about the $2 trillion valuation placed on the state oil giant by Crown Prince Mohammed bin Salman....
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Marathon Petroleum board, investors are said to discuss CEO
Marathon Petroleum Corp. board members are meeting this week with activist investors to discuss Chief Executive Officer Gary Heminger’s future and the company’s strategy amid calls to split up its businesses, according to people familiar...
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Oil rises for a third day amid low volumes yet concerns linger
Oil rose for a third day in New York amid low trading volumes, recouping most of this week’s earlier losses, yet the outlook remained clouded by concerns over the economy and abundant supplies. Source: FuelFix
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Schlumberger posts $11.4 billion loss amid hefty pretax charges
Schlumberger, the world’s largest oil field service company, beat Wall Street expectations on revenue but got stung by pretax charges that resulted in a multibillion loss for stockholders during the third quarter. Source: FuelFix
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