Archives for January 2020
Oil off to slowest start since 1991
(Bloomberg) — Oil is off to the worst start to a year since 1991, tumbling 16% in January on concern that the spread of coronavirus will curb demand for transportation fuels. Futures fell 1.1% in...
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U.S. oil and gas rig count dips
The decline brings the nation’s total number of operating rigs to 790. Source: FuelFix
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Coronavirus threatens to cut Chinese oil demand 250,000 barrels, analysts warn
The coronavirus outbreak is likely to drop Chinese oil demand by 250,000 barrels a day over the first three months of the year, analysts at the research firm Wood Mackenzie warned Thursday. Source: FuelFix
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Impairment drags down end-of-year profits for Phillips 66
Houston refining and pipeline company Phillips 66 closed 2019 with a nearly $3.7 billion profit, a figure that was dragged down by a $900 million of impairments for a joint venture. Source: FuelFix
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Chevron reports big $6.6B quarterly loss because of natural gas write-offs
Chevron reported a massive $6.6 billion loss in the fourth quarter after recording $10.4 billion in write-offs in North America because of continuously weak natural gas prices. Source: FuelFix
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