FuelFix
Production up, Chevron profits boom
Chevron posted double-digit increases in revenues and profits on Friday, boosted by good news in most business sectors, including U.S. and international oil production. Revenues rose $9 billion or 42 percent over the same quarter...
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Calpine narrows losses in 1st quarter, despite mild Texas winter
Houston-based power company Calpine Corp. reported a lost of $56 million for the first quarter of 2017, as compared to a loss of $198 million for the fourth quarter of last year. The company managed...
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Exxon signals caution on oil prices even as profits surge
Exxon Mobil Corp.’s profit more than doubled in the first quarter, and it managed to pay for its dividend and capital expenditures with its cash flow. But the Irving, Texas-based oil company said it’s still...
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Shale investments have surged by $100 billion, Rystad says
Ever since OPEC began cutting oil production, drilling in the United States has surged. Norwegian consultancy Rystad Energy estimates $100 billion in investment funds has flowed into the U.S. shale industry over the past year,...
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Oil discoveries dropped to record low in 2016, IEA says
The oil industry only found 2.4 billion barrels of oil last year, the smallest annual figure ever recorded, the International Energy Agency said Thursday. The Paris-based group, which advises oil-importing countries, said last year’s small...
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