Archives for November 2019
Occidental vows to slash spending after Anadarko hits earnings
Occidental Petroleum Corp. pledged to slash spending by 40% next year after quarterly profit fell short of forecasts due in part to the oil explorer’s $37 billion takeover of Anadarko Petroleum Corp. Source: FuelFix
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Oil companies need to slash third of production to meet Paris goals: analysis
Major energy companies would need to cut their oil and gas production by 35 percent by 2040 in order to stay within international carbon reduction goals, according to a new analysis. Source: FuelFix
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NOV plans to issue $500 million of senior notes amid financial reshuffling
Struggling oilfield service company National Oilwell Varco plans to issue $500 million of senior notes amid some financial reshuffling to pay down near-term debt and deal with recent quarterly losses. Source: FuelFix
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McDermott posts $1.9 billion loss amid stock price plunge, project cost overruns
Houston oilfield service company McDermott International posted another steep loss during the third quarter amid falling stock prices and cost overruns on multiple projects, including two liquefied natural gas plants near the Bayou City. Source:...
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Oil near 6-week high as U.S.-China trade deal hopes increase
Oil held its biggest gain in almost seven weeks after improved U.S. and Chinese economic data aided the demand outlook, while optimism increased that the U.S. and China will resolve their trade dispute. Source: FuelFix
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