Archives for 2019
ConocoPhillips posts flat profits, increases in spending and buybacks
ConocoPhillips reported a $1.58 billion net profit for the second quarter that’s nearly equal to just more than $1.6 billion earned from the same quarter in the year prior. Source: FuelFix
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Oil gains as Fed meeting and trade talks buoy demand outlook
Oil rose as expectations that the Federal Reserve will cut interest rates and the resumption of trade talks between the U.S. and China shored up the outlook for fuel demand. Source: FuelFix
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Venezuela faces the loss of Citgo – and desperately needed dollars
Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award. Source: FuelFix
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National Oilwell Varco posts nearly $5.4 billion loss during second quarter
Houston oilfield service company National Oilwell Varco reported a multibillion loss during the second quarter amid what executives are calling a “generational oilfield downturn.” Source: FuelFix
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Three consecutive quarters of losses for McDermott International
Houston oilfield service company McDermott International grew its revenue during the second quarter but ended up posting its third quarter in a row of losses following the sale of one its subsidiaries. Source: FuelFix
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