Exxon Mobil Corp recorded rise in its quarterly profit beating estimates, on higher profit in its exploration and production business and improved margins in its refining unit. Mark Coffelt, head portfolio manager at Empiric Advisors Inc, said: Exxon is very good at what they do and they are too large a company to respond to gyrations [...]
Read the full article: "Exxon Q3 profit rises 58 percent"
Friday, October 31, 2008
The Indian oil producer posted six % drop in quarterly profit after its fuel subsidy burden tripled. For full story, click here For company’s website, click here
Read the full article: "ONGC Q2 profit dips six percent"
Friday, October 31, 2008
Crude oil prices fell after the Commerce Department released a report showing that the GDP contracted by an 0.3 % annualized rate in Q3, its worst performance since Q3 of 2001. For full story, click here
Read the full article: "Crude falls on US GDP report data"
Friday, October 31, 2008
Prices extended gains after interest rate cuts in the United States and China, which boosted expectations of higher demand; Michael Davies, analyst at the Sucden brokerage, said: Oil futures were higher on the back of yesterday’s US and Chinese rate cuts, which should help boost economic recovery. The weakening US dollar amid the rate cut also boosted [...]
Read the full article: "Oil prices advance post rate cuts in China,..."
Thursday, October 30, 2008
Dutch company Shell has posted a jump in its Q3 profits to $8.45bn (£5bn) as crude oil prices increased to a record high. For full story, click here For company’s website, click here
Read the full article: "Shell profits jump to £5bn on record crude..."
Thursday, October 30, 2008
Suncor Energy Inc. said that in Q3 the company has posted net earnings of $815 million ($0.87 per common share), compared to $627 million ($0.68 per common share) for the third quarter of 2007. Rick George, president and chief executive officer of Suncor, said: We’ve had a challenging quarter with unplanned maintenance, including issues at our hydrogen facilities [...]
Read the full article: "Suncor Energy releases Q3 earnings"
Thursday, October 30, 2008
OPEC tries to maintain the prices increasing steadily at a rate slightly higher than inflation but there has been suituations and accusations of manipulating the market for other purposes, especially in terms of the US Presidential polls. For full story, click here
Read the full article: "Some Fundamentals Of pricing in Crude Oil"
Thursday, October 30, 2008
The prices rose above $70 a barrel for the f1st time in a week on speculation that the interest rate cuts in the U.S. and China may spur a global economic recovery and increase demand. Toby Hassall, analyst with Commodity Warrants Australia, said: The Fed delivered their expected rate cut and that’s another boost for the [...]
Read the full article: "Crude Oil Rises above $70"
Wednesday, October 29, 2008
Noble Energy, Inc. posted its third quarter 2008 net income of $974 million, or $5.37 per share diluted. Charles D. Davidson. Chairman, President and CEO, Noble Energy, said: Noble Energy has delivered exceptional third quarter 2008 operating and financial results from our diversified and balanced portfolio. We had significant exploration success during the [...]
Read the full article: "Noble Energy Announces Q3 earnings"
Wednesday, October 29, 2008
In its, Q3 earnings, Nexen posted a cash flow of $1.7 bn and net income of $886 mn. Charlie Fischer, Nexen’s President and Chief Executive Officer , said: In this marketplace, cash is king and we have substantial liquidity. We are slowing capital expenditures to build cash during this period of global financial uncertainty and [...]
Read the full article: "Nexen’s Q3 earnings: Record Cash Flow"
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Friday, October 31, 2008