Prices
![Prices](/cache/2015/08/GAZPROM-11.b100dec7.jpg)
2015, August, 5, 18:10:00
POWERFUL GAZPROM
In May 2008, the company’s market capitalization reached $367.27 billion, making it one of world’s most valuable companies, according to a survey compiled by the Financial Times. Gazprom’s deputy chair, Alexander Medvedev, repeatedly predicted at the time that within a decade the Russian energy giant could be worth $1 trillion.
![Prices](/cache/2015/08/NABORS-1.56423287.jpg)
2015, August, 5, 18:05:00
NABORS LOSS $(41.9) MLN
Nabors Industries Ltd. ("Nabors")(NYSE: NBR)today reported second-quarter revenue and earnings from unconsolidated affiliates of $862 million, compared to $1.42 billion in the first quarter of 2015, and $1.62 billion in the second quarter of last year. The comparable quarters included $367 million and $535 million respectively, in revenue from Completion and Production Services, a business line that merged with C&J Energy Services on March 24, 2015. Beginning in the second quarter, Nabors' results reflect equity-method accounting for this investment on a quarter-lag basis.
![Prices](/cache/2015/08/DEVON-1.7b0861d2.jpg)
2015, August, 5, 18:00:00
DEVON ENERGY LOSS $(6.4) BLN
On a reported basis, due to a non-cash, full-cost ceiling charge, Devon had a net loss of $2.8 billion, or $6.94 per diluted share, for the second-quarter 2015. This compares with second-quarter 2014 reported net earnings of $675 million, or $1.64 per diluted share.
![Prices](/cache/2015/08/GAS-18.c0a96f7c.jpg)
2015, August, 4, 19:15:00
RUSSIAN GAS UP
Gazprom's gas prices are pegged to oil with a six-month lag, which means its customers are currently paying the equivalent of $45-$50 per barrel seen in January 2015 when oil prices crashed following a decision by OPEC not to reduce output.
![Prices](/cache/2015/08/SHALE-1.5709c8bd.jpg)
2015, August, 4, 19:10:00
SHALE GAS IS LOSER
US shale gas is the unexpected loser from President Barack Obama’s climate plan, as the White House abandons its previous enthusiasm for natural gas as a cleaner alternative to coal.
![Prices](/cache/2015/08/OIL-21.938d18eb.jpg)
2015, August, 4, 19:05:00
SANCTIONS FOR RUSSIA'S GDP
Russia's economy is showing signs of stabilisation after slumping under pressure from Western financial sanctions and Russian counter-measures. Low international prices for its oil exports have added to pressure on the rouble and government finances.
![Prices](/cache/2015/08/BP-8.c103cb30.jpg)
2015, August, 4, 19:00:00
BP LOSS $(6.266) BLN
BP’s second-quarter replacement cost (RC) loss was $6,266 million, compared with a profit of $3,182 million a year ago.
![Prices](/cache/2015/08/ENI-2.11d6dc5a.jpg)
2015, August, 4, 18:55:00
ENI DOWN 70%
Claudio Descalzi, Chief Executive Officer, commented: “In the first half of the year we have achieved excellent industrial results across our businesses, which enable us to revise upwards several of the targets set out in the strategic plan presented inMarch. In upstream we delivered record production growth and we have significantly contained costs. Furthermore, the recent start-up of production in the Perla field in Venezuela, and forthcoming start-up of Goliat in Norway will provide an important contribution in the second half. The mid-downstream businesses all reached profitability, thanks to the strong progress we have made in restructuring our refineries and petrochemical plants, successful renegotiations of gas contracts and further interventions on efficiency. These actions have helped to contain the impact of thefall in hydrocarbons prices, both in terms of economics and cash generation. Despite the halving of oil prices, we have generated €5.7 billion of cash flow, in line with the first half of 2014, which has financed almost all capital investment in the half year. This is a very significant result, given that self-financing investment is the main challenge facing the sector today. These better than expected results enable me to confirm the proposal of an interim dividend of €0.40 per share to the Board of Directors, on September 17”.
![Prices](/cache/2015/08/SHELL-5.4fb384f7.jpg)
2015, August, 4, 18:50:00
SHELL DOWN 37%
Compared with the second quarter 2014, CCS earnings excluding identified items benefited from strong Downstream results reflecting steps taken by the company to improve
financial performance and higher realised refining margins. In Upstream, earnings were impacted by the significant decline in oil and gas prices and decreased production volumes, partly offset by lower costs and depreciation.
![Prices](/cache/2015/08/TOTAL-2.579ef19b.jpg)
2015, August, 4, 18:45:00
TOTAL DOWN 13%
Despite falling crude prices, Total managed to report a better result as its output for the quarter grew and cost cutting measures paid off. Crude oil prices have more than halved from their peaks last year. West Texas Intermediate (WTI) and Brent crude oil futures - the benchmarks for crude oil prices are currently trading at $47.86 per barrel and $53.07 per barrel respectively. During the quarter, oil traded around $60 per barrel.
![Prices](/cache/2015/08/DIAMOND-1.fd9f8b24.jpg)
2015, August, 4, 18:40:00
DIAMOND OFFSHORE LOSS $ (165.3) MLN
Diamond Offshore Drilling, Inc. (NYSE: DO) today reported net income of $90 million, or $0.66 per share, in the second quarter of 2015, compared to $90 million, or $0.65 per share, in the second quarter of 2014. Revenues in the second quarter of 2015 were $634 million, compared to revenues of $692 million in the second quarter of 2014.
![Prices](/cache/2015/08/NOBLE-1.fd36440d.jpg)
2015, August, 4, 18:35:00
NOBLE ENERGY LOSS $ (131) MLN
Noble Energy, Inc. (NYSE:NBL) announced today a second quarter 2015 net loss of $109 million, or $0.28 per diluted share. Excluding the impact of certain items which would typically not be considered by analysts in published earnings estimates, second quarter 2015 adjusted income was $101 million, or $0.26 per diluted share. Discretionary cash flow was $461 million and net cash provided by operating activities was $424 million. Capital expenditures for the second quarter of 2015 totaled $799 million.
![Prices](/cache/2015/08/BAKER-1.b3794f8f.jpg)
2015, August, 4, 18:30:00
BAKER HUGHES LOSS $(188) MLN
- Revenue of $4 billion for the quarter, down 33% year-over-year
- GAAP net loss per diluted share of $0.43 for the quarter, includes adjusting items of $0.29 per diluted share
- Free cash flow for the quarter of $413 million, increased $341 million year-over-year
![Prices](/cache/2015/08/SAUDI-5.84d4185b.jpg)
2015, August, 3, 17:55:00
SAUDI'S PRICE WILL RISE
Saudi Arabia is expected to raise prices for crude it sells to Asia in September due to a stronger Dubai benchmark, traders and analysts said on Monday, adding that the top oil exporter will be wary of a hike so big it would threaten its market share.
![Prices](/cache/2015/08/GAZPROM-10.13b365ae.jpg)
2015, August, 3, 17:50:00
GAZPROM: TIME IS MONEY
There are indeed compelling reasons for Gazprom to do a deal. First market developments are rendering Gazprom’s existing business model irrelevant and it is that business model which is being substantially challenged in the antitrust case. Secondly, the consequences of an actual published EU competition decision against the company would be devastating in terms of reputation and scale of liability. Both these factors provide compelling incentives for Gazprom to file draft Commitments to the Commission to provide a basis for a deal.