It's been another ugly day for "Big Energy," with 52-week lows again for everything across the board, including big oil like Exxon Mobil; oil service names like Schlumberger and Halliburton; exploration and production names like Hess, Apache, Anadarko and Noble Energy; and drillers like Ensco, Transocean, Rowan and Nabors. Another epic miss on oil prices is causing traders to push down their earnings expectations for big oil, and they're not done yet.big earnings energy expectations lows oil re stock valuation week
The U.S. Energy Information Administration (EIA) on Monday released its August report on drilling productivity in seven key oil and gas producing regions of the U.S. Overall oil production is projected to rise by a whopping 117,000 barrels a day in September to 6.149 million barrels per day.August barrel Basin cubic feet gas oil production report rise September
Deposits by non-resident Indians in the Gulf , a major source of dollar inflows, are slowing down amid lay-offs following the collapse of crude oil prices and increasing pressure in Arab nations to employ locals.While the drop in oil prices eases India 's current account deficit, it hurts the economy in terms of slower NRI deposit flows. In addition, the appreciation of the rupee has eroded gains of Indians working abroad when they convert their dollars into the local currency.Growth in Non Resident External Rupee Account (NRE accounts) deposits of local banks fell by over a quarter in the April-June period, according to Reserve Bank of India data, as the number Indians heading to the Gulf for jobs shrank over the past couple of years.bank deposit dollar Gulf Indian inflow NRI oil quarter resident
Kinder Morgan’s (KMI) earnings call was a very positive one.
In Kinder Morgan’s case it implies a few things: 1) Management is highly confident it can maintain strong cash flows as it has a slightly conflicting target of reducing its debt to EBITDA ratio and need for expansion capex.business EBITDA flow Kinder Morgan KMI market oil pipeline shares stock
But Hall has admitted that the value of his analysis has diminished in an age of automated trading.
The rise of machine-based algorithmic trading is injecting so much volatility into oil markets, it's now difficult to produce returns by doing the type of fundamental analysis for which Hall is known, he told investors in a letter obtained by Bloomberg News.admitted analysis Bloomberg diminished fundamental Hall letter oil reported trading
Oasis Petroleum was one of the first companies to become cash flow positive.
Oasis Petroleum has had a difficult time since the start of the crash with its market cap dropping from more than $10 billion to less than $2 billion.asset barrel continue crash flow growth OAS Oasis Petroleum oil production
Prices of oilseeds and edible oils jumped by up to 3.5 per cent in spot and futures on Monday, due to apprehension of lower supply after an increase in the Customs duty, to curb cheaper import.
The strengthening rupee and low international prices, combined with a duty differential favouring import of refined edible oils, had led to immense pressure on the domestic industry, with many crushing and refining facilities on the verge of closure.cent crude crushing duty edible oil import oil refined refining seed
IOC bought 1.9 million barrels of US crude in its second import tender seeking oil from the Americas, company Director (Finance) A K Sharma told PTI here.
India, the world's third-largest oil importer, joins Asian countries like South Korea, Japan and China to buy US crude after production cuts by OPEC drove up prices of Middle East heavy-sour crude, or grades with a high sulphur content.IOC had last month sealed a deal to import 1.6 million barrels of Mars crude from the US and 400,000 barrels of Western Canadian Select oil for delivery at its Paradip refinery in Odisha -- the first ever such purchase of US crude by an Indian state-run refiner.barrels bought crude delivery foreign Indian IOC oil refiner shipping
Bullion normally sparks at times of geopolitical tension and is considered a safe bet against inflation. With the festive season coming in, physical demand is expected to rebound in the near term,” said Ketan Shroff, Director, India Bullion and Jewellers Association.While announcing the demand trend early this month, the World Council estimated India’s demand to remain range-bound, with an upward bias.cent demand dollar India investors lower market oil physical Rs
According to OPEC, global OECD oil inventories fell 22 million barrels in June to end at 3.033 billion. Production in Saudi Arabia rose by 32,000 b/d to 10.067 mmbd, which is above its production ceiling, according to secondary sources.barrel build demand implies inventories July oil OPEC production rose
The on Friday announced increase in on both crude and refined edible oil, a demand that the domestic seed crushing and refining industry had been making over the past several months.
But, a marginal increase is unlikely to make a difference for consumers.cent crude crushing domestic duty edible import oil refined seed
In the week ended August 11, 2017, the number of rigs drilling for oil in the United States totaled 768, up by three compared with the prior week and up by 372 compared with a total of 396 a year ago. Including 181 other rigs drilling for natural gas, there are a total of 949 working rigs in the country, down by five from a week ago and up by 468 year over year.barrel count crude drilling effort natural gas oil released rig Texas
In its monthly Oil Market Report for August released Friday morning, the International Energy Agency (IEA) said that global crude supplies rose by 520,000 barrels per day in July, the third consecutive month that output has risen.
Organization of Petroleum Exporting Countries (OPEC) crude oil production rose by 230,000 barrels a day to 32.84 million barrels in July, led by a strong recovery in Libyan production.barrel countries crude cut July OECD oil OPEC production quarter
Preferred Sands has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO).
Preferred Sands is focused on the development and operation of sand facilities located close to or within basins where customers operate and consume its products.Exchange facilities gas intends offering oil Preferred Products proppant sand
I remarked early this year that Chesapeake (NYSE:CHK) is an outlier compared with its peers when it comes to its drilling strategy for this year, in that it does not intend to chase production growth. For the year so far, it achieved net operating profit of $547 million, meaning that the second quarter was better compared with the first despite the lower oil prices.Chesapeake debt longer oil operating quarter results Revenue Shale strategy