All eyes are on oil majors, as they battle a refining slump. BP reports results Tuesday, followed by Conoco on Wednesday, Exxon and Shell on Thursday, and Chevron on Friday. Though the sector is up 20 per cent, refineries are struggling as demand remains limp. Is there a way out?
Continue reading "Down, Down, Down For Oil Majors?"
Friday, May 15, 2009
The chief executive officer of ConocoPhillips announced recent gains in crude oil prices will help generate industry cash flow, but for now the U.S. oil major plans to stick to its $12.5 billion budget for 2009. Jim Mulva, Conoco’s CEO, stated: I think the fact that oil prices might be between $50 and $60 dollars [...]
Continue reading "Conoco Philips is sticking to ’09 budget with $60 crude"
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Monday, October 26, 2009