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Oil&Gas

Oil&Gas
2016, May, 19, 20:05:00
CHEVRON WILL CUT BUDGET BY 17%
Chevron Corp on Tuesday said it will slash its budget by at least 17% for the next two years to save cash due to the low crude oil prices.
Oil&Gas
2016, May, 19, 19:55:00
CHINESE-RUSSIAN TARGET: $100 BLN
China is Russia’s biggest single trade partner, with its share rising to 12.8 percent from 12 percent in 2015. Even so, the overall turnover of goods fell by 26 percent last year to $68.1 billion. That means the countries are far off reaching their target of $100 billion in trade.
Oil&Gas
2016, May, 19, 19:40:00
ROSNEFT AND PETROVIETNAM COLLABORATION
The agreement provides for the expansion of cooperation between the parties in Russia, Vietnam and third countries in the area of hydrocarbon exploration and production (including offshore), processing, commerce and logistics, as well as staff training. The parties agreed to consider potential options for joint projects and define the basic terms of cooperation as well as establish a working group for each of the areas of cooperation.
Oil&Gas
2016, May, 19, 19:35:00
GAZPROM AND PETROVIETNAM COLLABORATION
The parties plan to examine further opportunities for mutually beneficial cooperation in the field of hydrocarbon prospecting, exploration and development. Among the opportunities being considered are joint activities within new projects at licensed blocks on the shelf of Vietnam and in third countries.
Oil&Gas
2016, May, 10, 18:40:00
KILLING OPEC
Internal differences are killing OPEC and its ability to influence the markets has all but evaporated, top Russian oil executive Igor Sechin told Reuters in some of his harshest remarks ever about the oil cartel.
Oil&Gas
2016, May, 10, 18:15:00
MAJORS RELINQUISHED $2.5 BLN
The pullout comes as crude oil prices have plummeted to less than half their June 2014 levels, forcing oil companies to slash spending. For Shell and ConocoPhillips, the decision to abandon Arctic acreage was formalized just before a May 1 due date to pay the U.S. government millions of dollars in rent to keep holdings in the Chukchi Sea north of Alaska.
Oil&Gas
2016, May, 10, 18:05:00
DOUBLE IRANIAN LPG
Iran plans to double its Liquefied Petroleum Gas (LPG) production in the post-sanctions era, Deputy Director of International Affairs for Marketing and Crude Oil Operation in the National Iranian Oil Company Safar-Ali Karamati said.
Oil&Gas
2016, May, 5, 19:10:00
U.S. BANKRUPTCY UP
The rout in crude prices is snowballing into one of the biggest avalanches in the history of corporate America, with 59 oil and gas companies now bankrupt after this week's filings for creditor protection by Midstates Petroleum MPOY.PK and Ultra Petroleum UPL.NL.
Oil&Gas
2016, May, 5, 18:40:00
SHELL INCOME DOWN 89%
Royal Dutch Shell’s first quarter 2016 CCS earnings attributable to shareholders (see Note 3) were $0.8 billion compared with $4.8 billion for the same quarter a year ago.
Oil&Gas
2016, May, 5, 18:35:00
REPSOL NET INCOME €572 MLN
Adjusted net income was 572 million euros, compared with 928 million in the same quarter of the previous year, which included exceptional earnings of 500 million euros due mostly to the company’s dollar position after receiving funds for the expropriation of YPF, subsequently used for the acquisition of Talisman.
Oil&Gas
2016, May, 5, 18:30:00
TRANSOCEAN NET INCOME $249 MLN
ZUG, SWITZERLAND-May 4, 2016-Transocean Ltd. (NYSE: RIG) today reported net income attributable to controlling interest of $249 million, $0.68 per diluted share, for the three months ended March 31, 2016. First quarter 2016 results included net unfavorable items of $5 million, $0.01 per diluted share, as follows: $4 million, $0.01 per diluted share, in restructuring costs associated with employee severance; and $2 million related to the loss on impairment of the midwater floater Transocean John Shaw, which the company has identified for recycling.
Oil&Gas
2016, May, 5, 18:25:00
PETROBRAS SELLS $1.4 BLN
Petrobras said that it sold a 67% stake in its Petrobras Argentina subsidiary to Pampa Energía, an Argentinean energy firm, for $892 million. Petrobras had previously disclosed that it was in negotiations with Pampa Energia.
Oil&Gas
2016, May, 5, 18:20:00
NOBLE NET LOSS $287 MLN
David L. Stover, Noble Energy's Chairman, President and CEO, commented, "We are off to a solid start this year and have made substantial progress on our goals for 2016. Our high-quality and diverse portfolio is delivering strong results, giving us the confidence to lower our full year capital and cost outlook while raising volumes substantially. We have aligned our business within cash flows and are continuing to protect our investment-grade balance sheet. Significant capital efficiency gains and outstanding operating performance, combined with robust liquidity, position us well in any price scenario."
Oil&Gas
2016, May, 5, 18:15:00
WEATHERFORD NET LOSS $498 MLN
Revenue for the first quarter of 2016 was $1.59 billion compared with $2.01 billion in the fourth quarter of 2015 and $2.79 billion in the first quarter of 2015. First quarter revenues declined 21% sequentially and 43% from the prior year. The sequential decline was 22% in North America and 21% for International operations. Product sales declined 30% sequentially, while service and rental revenue decreased by 16%. The product sales decline was as much seasonal as cyclical and most impacted the Eastern Hemisphere.
Oil&Gas
2016, May, 5, 18:10:00
ANADARKO NET LOSS $1 BLN
HOUSTON, May 2, 2016 -- Anadarko Petroleum Corporation (NYSE: APC) announced its financial and operating results for the first quarter of 2016, including a net loss attributable to common stockholders of $1.034 billion, or $2.03 per share (diluted). The net loss includes certain items typically excluded by the investment community in published estimates, which in the aggregate decreased net income by $465 million or $0.91 per share (diluted) on an after-tax basis.(1) Net cash used in operating activities in the first quarter of 2016 was $137 million. Discretionary cash flow from operations totaled $486 million