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February 2016

February 2016
2016, February, 4, 19:15:00
CUTTING JOBS & INVESTMENTS
Oil companies are cutting investment, slashing jobs and selling off pipelines and other assets as crude prices plunge. “It’s going to be a very turbulent year for our industry,” says BP CEO Bob Dudley.
February 2016
2016, February, 4, 19:10:00
OIL PRICES DECLINE
The impact of sharply lower oil prices is being felt around the globe. Oil-dependent countries are trying to mend busted budgets. Oil companies are cutting production and workers. While consumers in some countries enjoy lower gas prices, elsewhere consumers are paying higher food prices due to declines in the local currency.
February 2016
2016, February, 4, 19:05:00
ROSNEFT & PDVSA COOPERATION
Efficient joint efforts in the assets’ management enabled to reach remarkable increase of hydrocarbon production volumes both at brownfields and greenfields. Well-elaborated investment strategy provides favorable financial outcome from joint projects despite the challenging macroeconomic environment.
February 2016
2016, February, 4, 19:00:00
EXXON NET INCOME DOWN 50%
Full Year 2015 Highlights: • Earnings of $16.2 billion decreased 50 percent from $32.5 billion in 2014. • Earnings per share, assuming dilution, decreased 49 percent to $3.85. • Capital and exploration expenditures were $31.1 billion, down 19 percent from 2014. The company anticipates further reductions in 2016, with capital and exploration expenditures of $23.2 billion, a decrease of 25 percent from 2015. • Oil-equivalent production increased 3.2 percent from 2014, with liquids up 11 percent and natural gas down 5.7 percent. • Cash flow from operations and asset sales was $32.7 billion, including proceeds associated with asset sales of $2.4 billion. • The corporation distributed $15.1 billion to shareholders in 2015 through dividends and share purchases to reduce shares outstanding.
February 2016
2016, February, 4, 18:55:00
NOV VARCO NET LOSS $769 MLN
Feb. 3, 2016-- National Oilwell Varco, Inc. (NYSE:NOV) today reported fourth quarter 2015 net income of $85 million, or $0.23 per fully diluted share, excluding other items, down from $0.61 in the third quarter of 2015 on a comparable basis. Other items included pre-tax charges of $1,634 million for goodwill and other intangible asset write-downs, $139 million for restructuring and other charges (which included inventory write-downs, severance and facility closure costs, and other costs), and $7 million in FX losses due to a currency devaluation in Argentina. GAAP net loss for the quarter was $1,523 million, or $4.06 per fully diluted share.
February 2016
2016, February, 4, 18:50:00
WEATHERFORD NET LOSS $1.99 BLN
Weatherford International plc (NYSE: WFT) reported a net loss before charges of $102 million ($0.13 net loss per share before charges) on revenues of $2.01 billion for the fourth quarter of 2015. GAAP net loss for the fourth quarter of 2015 was $1.21 billion, or a net loss of $1.54 per share. Full year revenue was down $5.5 billion and operating income declined $1.5 billion primarily due to lower activity, pricing weakness and customer budget reductions in oil and gas markets across the world.
February 2016
2016, February, 4, 18:45:00
SPANISH GAS: €1.5 BLN
Spanish gas utility company Gas Natural Fenosa has recorded a net profit of €1.502bn for 2015, an increase of 2.7%, the company said in a press release on February 3. Total earnings before tax, interest, depreciation and amortisation (Ebitda) for 2015 is recorded at €5.376bn, exceeding a target of €5bn set out in Gas Natural Fenosa's 2013-2015 strategic plan.
February 2016
2016, February, 2, 19:30:00
U.S. GDP UP 0.7%
Real gross domestic product -- the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes -- increased at an annual rate of 0.7 percent in the fourth quarter of 2015, according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.0 percent.
February 2016
2016, February, 2, 19:25:00
U.S. OIL & GAS SHOCK
The oil and gas shock has been big enough to affect negatively the performance of the whole economy in the short run, even if it promises to have a positive impact in the long term.
February 2016
2016, February, 2, 19:15:00
CHEVRON NET LOSS $588 MLN
Chevron Corporation (NYSE: CVX) reported a loss of $588 million ($0.31 per share – diluted) for fourth quarter 2015, compared with earnings of $3.5 billion ($1.85 per share – diluted) in the 2014 fourth quarter. Foreign currency effects increased earnings in the 2015 quarter by $46 million, compared with an increase of $432 million a year earlier.