Headlining news from Oil & Gas Market Report
Maybe the financial world isn’t coming to an end after all. After the worst start to a year and falling into a correction, the stock market finally showed signs of life. The Dow jumped 228 points on Thursday, its best day since early December. The S&P 500advanced 1.7%, while the Nasdaq rose 2%. The gains …
BEIJING, Jan. 13 (Xinhua) — China will not cut its domestic retail fuel prices when international oil prices fall below 40 U.S. dollars a barrel, the country’s economic planner said on Wednesday. Previously, China set a ceiling for domestic retail fuel prices, which will not be raised if international oil prices rise above 130 U.S. …
WASHINGTON — President Obama, in his final State of the Union address on Tuesday night, boldly proclaimed the successes of what he called “the single biggest investment in clean energy in our history,” the 2009 economic stimulus that pumped $80 billion into clean and renewable energy projects. “In fields from Iowa to Texas, wind power …
Hopes for a recovery in the United States stock market were dashed on Wednesday as investors’ deepening fears about the strength of the world’s largest economies drove another wave of selling. The 2.5 percent slide in the market’s main benchmark, the Standard & Poor’s 500-stock index, was the worst so far this year, and came …
CGG SA, the troubled French oilfield surveyor, said it will sell as much as 350 million euros ($379 million) of new shares at a 72 percent discount to finance its turnaround plan as a slump in crude prices curbs demand for its services from exploration companies. “This capital increase of 350 million euros will be …
Statoil (NYSE:STO) has increased its exposure to its home market by buying a big stake in Lundin Petroleum (OTCPK:LNDNY), boosting its presence in the Johan Sverdrup field, Norway’s biggest offshore project in decades. The Norwegian state-controlled oil major bought 11.9% in the Swedish company for SEK4.6B ($539M) making the acquisition Statoil’s first big deal since …
Warren Buffett is finding something to buy amid the oil market wreckage. In the days before crude fell below $30 for the first time in 12 years, Buffett’s Berkshire Hathaway was picking some shares of oil giantPhillips 66 as that stock hit three-month lows. In three days of purchases just revealed in an SEC filing, …
Summary For the energy industry, it was “déjà vu all over again this year as BP announced massive layoffs. Oil price environment has worsened, with WTI briefly slipping to under $30 a barrel. BP is the first oil producer to announce significant job cuts this year; others will likely follow. But BP may also have …
We are pleased to announce a new audio interview with Stephen R. Brunner, President of Petro River Oil Corp. OTCPink: PTRC Mr. Brunner has over 30 years of experience in domestic and international operations in the exploration and production industry as well as extensive public company management experience. Since 2008, Mr. Brunner has served as …
LEI is an interesting buy, but it makes sense to look at another company, Petro River Oil, with a similar cash structure (4 million shares outstanding), but far better liquidity ($23.5m) and assets that even the majors like Chevron and Hess would own. The D drops next week and they’ve applied for uplifting. If a …