2016, April, 26, 19:35:00ROSNEFT CUT STAFF: 20%
Within unstable market conditions Rosneft proceeds looking for new sources of increase of the Company’s capitalization, boosting the efficiency of the investment program and its operations. This will inevitably relate to the operations of the central administrative office – we have set a goal to cut its staff size by 20% relative to the level of 01.01.2016.
2016, April, 24, 12:55:00RUSSIA CUTS PRICE
“With this rule, the Russian government is trying to break the vicious dependence of the economy on oil via the ruble. What’s changing is that the Russian government is signaling to the market participants that the ruble will be more predictable to spur investments into the economy.”
2016, April, 24, 12:40:00OIL MAJORS: THE WORST
The impact of weaker prices is being compounded by lower profits from refining, a business that has been bailing out oil majors over the past couple of years. Global refining margins dropped to $10.50 a barrel in the first quarter, 31 percent lower than a year earlier and 20 percent lower than the preceding quarter.
2016, April, 24, 12:30:00SCHLUMBERGER CUTS 2,000 JOBS
Since November 2014, when the oil bust started to take hold of the energy industry, Schlumberger has cut 36,000 jobs, or 28% of its workforce.
2016, April, 24, 12:25:00HALLIBURTON CUTS 6,000 JOBS
The company revenue in the first quarter fell to $4.2 billion, a 40 per cent decline from the first quarter of 2015. That’s in line with the average analyst estimate of $4.2 billion.
2016, April, 17, 19:25:00GLOBAL DEFAULT $50 BLN
“The one hope is that earnings bounce back and company cash flows [improve],” Mr Caprio added. “If that doesn’t happen, [companies] will have debt to pay off and it is unclear how they’ll pay it.”
2016, April, 15, 21:30:00RUSSIA SAVES BP
“We remain committed to our strategic investment in Rosneft,” Scott Dean, a company spokesman, said by e-mail, adding that BP complies with all relevant European and U.S. sanctions. “In the low oil-price environment, Rosneft continues to deliver solid operational and financial performance, demonstrating the resilience of its business model.”
2016, April, 15, 21:15:00U.S. LOSSES
Lenders including JPMorgan Chase & Co., Wells Fargo & Co. and Bank of America Corp. are setting aside more money to cover potential loan losses after crude prices fell 61 percent in less than two years.
2016, April, 12, 20:30:00CHEVRON: MARKETS ARE BETTER
"Now we're seeing reductions in spending on shorter cycle projects, in other words immediate drilling activity," Watson said. "Rig rates in the US are down almost 80%, we're seeing decline in rig rates around the world and we're starting to see the supply response that everyone has expected. So we're seeing the markets come back into better balance [but] it may take more time."
2016, April, 10, 13:50:00OIL MAJORS RATINGS DOWN
Chevron Corp. and Royal Dutch Shell Plc had their ratings reduced by one level, while Total SA’s was cut two steps, according to statements by the New York-based rating company on Friday. Chevron will generate negative cash flow amid rising debt for at least the next two years, while Shell will have elevated leverage following its acquisition of BG Group Plc, Moody’s said. Prices are expected to stay low through this year and next and continue to pressure Total’s operating cash flows and credit metrics, Moody’s said.
2016, April, 5, 18:30:00U.S. DEFICIT UP 13.1%
Year-to-date, the goods and services deficit increased $10.8 billion, or 13.1 percent, from the same period in 2015. Exports decreased $20.5 billion or 5.5 percent. Imports decreased $9.7 billion or 2.1 percent.
2016, April, 5, 18:10:00PETROBRAS CUTS 12,000 JOBS
Brazil’s troubled state-run oil company Petróleo Brasileiro SA on Friday announced a beefed up voluntary layoff program that could affect up to 12,000 jobs amid intense efforts to cut costs.
2016, April, 3, 16:05:00SHELL & NIGERIA CORRUPTION
The international oil company said on Wednesday it was co-operating with officials from both the Netherlands and Italy as they investigate the $1.1bn deal, which Shell signed five years ago alongside Eni, the Italian oil company.
2016, April, 2, 17:52:00KOCH - ROCKEFELLERS OIL
NEO - The Koch Brothers emerged stronger than ever, along with a slew of smaller oil tycoons, who lack the kind of longstanding and entrenched influence wielded by the Rockefeller dynasty.
2016, March, 31, 19:20:00CHINA'S GAS PRIORITIES
China, the world's top energy user, is keen to boost cleaner burning natural gas consumption to tackle air pollution.