Archives for 2019
Phillips 66 profits plunge in first quarter
Phillips 66’s profits took a beating in the first quarter as refinery outages – both planned and unplanned – and lower refining margins cut into net income. The Houston-based refining and pipeline company made $204...
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Anadarko board faces scrutiny amid $38 billion bidding war
Anadarko Petroleum Corp.’s market value has soared 56 percent since a bidding war for the American shale driller kicked off two weeks ago. Yet the company’s directors have managed to step on the toes of...
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Oil gains as Saudis talk of extending cuts, Venezuela escalates
Oil rose as Saudi Arabia signaled OPEC and its allies could extend supply cuts to the end of the year, while Venezuela’s opposition leader called for a military uprising. Source: FuelFix
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Offshore boosts equipment sales for Baker Hughes during first quarter
Growing demand from the offshore industry helped to boost equipment sales for Houston oilfield service company Baker Hughes during first quarter. Source: FuelFix
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Federal judge freezes assets amid allegations of insider trading in Anadarko, Chevron deal
A federal judge has frozen the assets of two unknown stock traders amid allegations that they used insider trading to make $2 million from Chevron’s announcement to buy The Woodlands-based oil company Anadarko Petroleum. Source:...
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