Oil Prices Weigh on Exxon, Shell But Results Still Beat Estimates

 

Oil majors Exxon (XOM), Royal Dutch Shell (RDS-A) and ConocoPhillips (COP) all reported lower results from a year ago on Thursday, weighed down by the plunge in oil prices. Exxon posted a 46% drop in first-quarter profit, though earnings and revenue still beat analysts' expectations. Refining and marketing earnings were a pocket of strength, more than doubling to about $1.6 billion. Refining and marketing also aided Shell's results, rising to $2.6 billion from about $1.6 billion a year ago. However, Shell reported earnings that fell by 56% from a year ago, with its adjusted profit falling to $3.2 billion from $7.3 billion last year. ConocoPhillips reported a narrower-than-expected first-quarter loss of $0.18 a share, compared to analysts' estimates for a loss of $0.19 a share.

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Is WTI crude oil on the way to $67 per barrel?

 

Market analyst, Jasper Lawler looks at the recent drop in the US dollar and the change in US oil inventories as well, as technical analysis to determine the future possible outlook for oil prices.

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Refineries Will Need More Oil to Keep Up With Gasoline Demand

 

Crude inventories showed a build for the 16th week in a row, yet the commodity spiked to almost $59. Luke Rahbari of Stutland Volatility Group tells TheStreet's Jill Malandrino part of the pop was due to the data not being as bad as expected, but also because rig counts are down and gasoline supplies are down to a 5-year low. Refineries will need more oil to meet the gasoline demand and geopolitical tensions in the Middle East are also adding to the bid in crude. Rahbari looks to crude trading ranges in even numbers. Now that $55 has been broken to the upside, the next stop is $60 and Rahbari thinks oil will stay above $55 for the rest of the summer.

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EPA Keystone XL Report Supports Obama's Veto Threat

 

EPA Keystone XL Report Supports Obama's Veto Threat

The Lifecycle of a Well - ConocoPhillips

 

Our planning, exploration, development and production cycles are a key part of producing successful onshore drilling projects all over the globe. To learn more visit www.conocophillipsuslower48.com

Well Integrity and Groundwater Protection - ConocoPhillips

 

Our methods for protecting the resources around our production and well sites has resulted in cost effective success and environmental advancements in the outcomes of our exploration projects. To learn more visit www.conocophillipsuslower48.com

Price plunge brings hardship to Canadan oil sands

 

Sky-high salaries once attracted thousands of workers to this small city in the heart of Canada's oil sands but after crude prices plunged, Fort McMurray is now lamenting a brief golden age.

What are the challenges facing Nigeria's oil & gas sector?

 

The annual Nigeria Oil & Gas Conference exhibition provides a platform for the Nigerian oil and gas industry to discuss and debate the most pressing issues facing the industry share successes and network with industry players. CNBC AFRICA brings you highlights of the event in 2015.

Earnings Preview: Oil Majors Likely to Deliver Weak Results

 

Dan Dicker, Energy contributor for TheStreet.com, talks with Brittany Umar about the upcoming quarterly earnings reports coming in this week from U.S. oil majors. Two European oil majors, BP and Total, have reported significantly lower revenues from dropping oil prices, a result that is likely to be repeated by Exxon-Mobil (XOM) and Royal Dutch Shell (RDS.A) who report on Thursday, and Chevron (CVX), who will report on Friday. Saving a complete catastrophe will likely be increased profits from refining, transport and chemicals. Dicker believes that oil stocks won't see a major move based upon these bad, but expected results. Of all the majors, however, he likes Exxon among US producers and BP for a play on a weakening dollar.

Oil Market Fundamentals Point to Prices in the $80 a Barrel Range

 

Statoil's (STO) head of U.S. Development and Production Bill Maloney says Mexico's liberalization of oil drilling regulation could open a great deal of new opportunities but there is still a lot of uncertainty about how agreements will be structured. Maloney said, 'The potential is there. we’re cautiously optimistic. Mexico has to compete with Statoil dollars. I have to justify the investments I want to make. We look forward to doing business there if the business case works out.' Statoil has already trimmed capital spending by 10-percent because of the decline in oil prices but expects prices to return to the $80 a barrel range, though exactly when remains unclear. Maloney said, 'The recipe for us and our competitors is to maintain strength through the cycle, continue to invest in the cycle, but when the rebound is going to come, I don’t know. I do firmly believe it will be there.'

How Does Oil Affect Deep Water Ecosystems?

 

Dr. Erik Cordes, and Associate Professor at Temple University and part of the ECOGIG science team answers questions about how oil spills affect deep water ecosystems.

$3.5 billion Petrobras oil deal deepens China-Brazil ties

 

The last few months have been rough for Brazil's state-run oil company Petrobras. Earlier this month, it posted its biggest loss ever even-point-two billion dollars in 2014 stemming from a giant corruption scandal. As traditional sources of financing dried up, China seized the opportunity to deepen its commercial ties to the South American country. CCTV America's Paulo Cabral filed this report from Sao Paulo.

Ghana And Oil: How Africa's 'Rising Star' Has Faded

 

After oil was discovered in Ghana, why did Africa's up-and-coming economic power have to seek help from the International Monetary Fund?

 

True or false: Rising Star faded or not?

Oil May Push Past $100 a Barrel in 2016: Hofmeister

 

John Hofmeister, founder of Citizens for Affordable Energy and former U.S. president of Royal Dutch Shell Plc, talks about the outlook for oil production and prices. He speaks with Betty Liu on Bloomberg Television's "In the Loop."

Roubini: We're Not Going Back to $100/Barrel Oil

 

Roubini Global Economics co-founder Nouriel Roubini comments on oil prices during an interview with Bloomberg's Stephanie Ruhle and Erik Schatzker at the Milken Global Conference in Beverly Hills, CA.

Low oil prices offer opportunities

 

Neil Hume talks to Jeremy Weir, chief executive of Trafigura, about the drop in oil prices and the increasing calls for greater regulation.

Why Oil Is Surging Higher in April

 

RJ O’Brien & Associates’ Phil Streible discusses the price of oil. He speaks on “In The Loop.”

Falling oil prices throw global gas, LNG markets into turmoil -- Platts ...

 

Oil prices have seen a steep decline in value and substantial volatility over the past 3 quarters. This has thrown the rest of the energy markets into turmoil, and gas is no exception. To discuss the implications of falling crude on gas and LNG with Desmond Wong, are William Powell, senior managing editor of the Platts International Gas Report, and Stephanie Wilson, managing editor, Asia LNG.

Core Laboratories CEO: Higher Oil Prices Coming

 

Looking for a way to play oil and gas? Don't miss Cramer’s exclusive with the CEO of Core Labs, fresh off the company's earnings beat.

Project Finance Weathers The Fall In Global Oil And Gas Prices

 

The low price of oil and natural gas is unlikely to have a widespread impact on the credit quality of global project debt over the next year. However, if prices remain in the US$50 per barrel range, the outlook may prove problematic for some projects.

Marin Katusa - Oil & Gas & Economy, Russia, china and Middle East

 

Marin Katusa on Oil & Gas & Economy, Russia, china and Middle East  

Petrobras Scandal Roils Brazil

 

What is Brazil's Petrobras scandal about? What toll is it taking on the world’s seventh largest economy? Why are protesters calling on Brazil’s president to resign? WSJ’s Jason Bellini has #TheShortAnswer.-str...

Who is stealing Nigeria's oil?

 

Africa's richest economy faces its worst oil crisis in years as criminal gangs make off with billions in stolen crude.

 

All parties must collaborate to stop this menace

Remembering The Piper Alpha Disaster

 

Piper Alpha was a North Sea oil production platform operated by Occidental Petroleum (Caledonia) Ltd. The platform began production in 1976, first as an oil platform and then later converted to gas production. An explosion and the resulting oil and gas fires destroyed it on 6 July 1988, killing 167 men, with only 61 survivors. The death toll includes two crewmen of a rescue vessel. Total insured loss was about £1.7 billion (US$3.4 billion). At the time of the disaster, the platform accounted for approximately ten percent of North Sea oil and gas production, and was the worst offshore oil disaster in terms of lives lost and industry impact.

The BP Oil Spill with Stephen Fry - Worlds Largest Environmental Disaste...

 

Stephen Fry loves Louisiana. Four months after the BP oil spill, dubbed the worst ecological disaster in the history of America, Fry returns to the Deep South together with zoologist Mark Carwardine, to see what the impact has been on the people, the vast wetlands and the species that live there. What they find both surprises and divides the travelling duo.

CGEG: The Management of Norwegian Petroleum Wealth with Siv Jensen

 

Norwegian Minister of Finance Siv Jensen discusses petroleum wealth in Norway.

Future US Energy Policy CERAWeek 2015

 

Senator Lisa Murkowski and ConocoPhillips Chairman and CEO Ryan Lance discuss the future of US energy policy at IHS CERAWeek 2015.

3esi Webinar - Transforming Portfolio Optimization

 

For upstream Oil and Gas petroleum planning - 3esi presents a recap of the popular SPE HEES 2014 presentation "Transforming Portfolio Optimization through Re-engineered Processes and Technologies"

5 Years After Deepwater Horizon, Is the Oil Drilling Even Safer?

 

Mike Papantonio, attorney and co-host of Ring Of Fire Radio, joins David on the 5 year anniversary of the BP Deepwater Horizon oil spill to discuss the disaster and the social and environmental repercussions of the spill

The Impact of Oil and Gas Leasing

Gary Ellsworth and Don Fischback of Calfee Halter & Griswold LLP are experts in crude oil and natural gas compliance matters. They spoke to Ohio's REALTORS during the recent Ohio Association of REALTORS Legislative Conference.

Fracking Wastewater Well Q&A Oil & Gas Director Bill Sydow

 

After the Nebraska Oil & Gas Commission voted to approve a permit for a controversial fracking wastewater disposal well during a "special meeting" on April 22, 2015, citizens who were not allowed to speak at all during the meeting requested that the Commissioners answer their questions.

Oil trader Vitol sees growing demand in India

 

Neil Hume talks to Ian Taylor, Vitol chief executive, about the oil market and the thawing of relations between Iran and the west.

Mercuria resumes search for big investor

 

Neil Hume talks to Marco Dunand, chief executive of Mercuria, about his search for a major investor to help in the next stage of his company’s expansion.

Five Years Later, Oil and Gas Company BP Remains in Legal Battle Over Fines

 

BP's (BP) stock has plummeted almost 30% since the April 20, 2010 Deepwater Horizon oil spill, which killed 11 people. The company set aside $43.5 billion to deal with the spill. Though five years later, BP is still in a legal battle with the government over just how much it will pay in fines, causing plenty of uncertainty for investors. But analysts say it's not all doom and gloom for BP, which maintains an attractive dividend of $2.40, a far cry from the summer of 2010, when the spill pushed BP to suspend its dividend. Analysts also say the spill forced BP to downsize, which has helped the company stay afloat as the oil industry struggles with low oil prices.

Oil and gas, the dollar and the global economy

 

Panel on the recent dynamics of Oil and Gas Prices, the Dollar and the Global Economy

Brazil: As Petrobras scandal spreads economic toll mounts

 

Negative economic impacts of squeezing the goose that lays the eggs

Edmund Shing: Shell's bumper BG deal could start wave of oil and gas tak...

 

Has a rush to buy up oil and gas companies just started? Royal Dutch Shell is set to become by far the largest FTSE 100 member by market capitalisation at 7.6% of the index (Figure 1), worth nearly £160bn (€222bn, $233.7bn) and 35% larger than the second-largest company, HSBC, once it completes the £47bn purchase of BG later in 2015.

WCS Talks 2014 - Lisa Dyson talks the future of bio oil

 

Kiverdi CEO, Lisa Dyson talks about alternative, and biological sources of bio oils for a new sustainable way of making products.

 

Interesting take on 'micro-refineries'

How to do Business in Mexico Oil and Gas Sector CCN

 

Webinar held on April 15th. 2015 about How to do business in Mexico for the Oil & Gas Sector.

FRACKING UK: Frackmaster Chris Faulkner on Fracking

 

Chris Faulkner, CEO of Breitling Energy also dubbed as the Frack Master, participates in the debate on ‘To Frack or Not to Frack’ to put forth his case.

The day of the huge integrated international oil company is drawing to a close?

This 'The Economist' article is quite interesting....given current realities in the Oil & Gas industry? How many claims are still valid and which provide some food for thought?

=======================

ON THE surface, things look pretty good for the big, listed oil companies. The world wants more of what they produce than ever before. The price it sells for is high and the profits are rolling in. Exxon Mobil, with a market capitalisation of $417 billion, vies with Apple as the world’s most valuable listed company. Royal Dutch Shell is the most valuable firm on the London Stock Exchange. Chevron employs 62,000 people; Total operates in more than 130 countries. In BP’s case the big numbers are more calamitous—it may end up paying out $90 billion in fines and compensation stemming from the Deepwater Horizon disaster. But its ability to do so and stay standing is a perverse sign of the company’s underlying strength.

In the 1990s, when the oil price dipped, a round of mergers turned the “seven sisters” of the 1950s—BP, Esso, Gulf Oil, Mobil, Royal Dutch Shell, SoCal and Texaco—their descendants and some smaller fry into this new set of “supermajors”. Soon afterwards global economic expansion further increased the demand for oil that had grown for a century, and set its price soaring (see chart 1). Things looked good for the new giants. But the rapid growth of emerging markets also exacerbated a half-century-long trend for power over that oil to shift to the countries where it is found.


In the 1950s the seven sisters controlled some 85% of global reserves. Today

Shell set to take over QCLNG, third train a possibility

ROYAL Dutch Shell looks set to take control of the QCLNG plant on Curtis Island, Gladstone, after agreeing to take over BG Group in a $90 billion deal. The QCLNG plant, which began exporting LNG late last year, is a joint venture between BG Group and QGC. Royal Dutch Shell previously had plans to build a fourth plant on Curtis Island via Arrow Energy, but shelved that proposal last year.

Commentators say the takeover deal is a huge vote of confidence in Queensland's $63 billion LNG export industry. The deal is one of the energy sector's biggest, and the new company would be valued at about $387 billion. Brisbane Times reports the two companies confirmed on Wednesday they would push ahead with one of the biggest energy deals in history, and redraw the Australian industry landscape in the process. The deal is expected to deliver $US2.5 billion worth of synergies and a significant proportion of those will be in Australia. 

Oil mergers: Exxon next if history is any clue

If history is any indication, ExxonMobil (XOM)could be the next oil giant to grow bigger through acquisition. In the late 1990s, falling oil prices prompted a wave of mergers in the sector as oil companies sought to bulk up in order to compete in tough times.

BP (BP) kicked off the merger-mania in 1998 when it forked over $48.2 billion deal for Amoco. Not to be outdone, Exxon announced plans one year later to buy Mobil for $82 billion. At the time, Exxon was the world's No. 1 oil company. Mobil was No. 2. Other oil companies followed up with their own acquisitions, including Chevron (CVX) buying Texaco for $100 billion in 2000.

But Exxon had already solidified its position as the top dog in a deal that was memorable for uniting competitors. "It was very significant because Exxon and Mobil were bitter rivals, like Coke and Pepsi," said Dennis Cassidy, co-head of the oil and gas practice at consulting firm AlixPartners. Their tie-up suggested

Will Record Oil Production Crash US Gas Prices?

 

US oil production has reached record numbers raising concern that they will run out of storage tanks to put it all. Could this lead to another crash in oil prices? We look at the story on the Lip News with Jose Marcelino Ortiz and Nik Zecevic.

http://www.npr.org/2015/03/30/3957762...

UK firms find oil & gas off Falklands, Argentina threatens legal action

 

A group of British exploration companies have found oil and gas in an area north of the Falkland Islands. The Argentine government has threatened to challenge all exploration and drilling efforts in court. READ MORE: http://on.rt.com/yyd2yd

US$ 1.4bn Ethiopia-Djibouti oil pipeline project given greenlight

 

 

Construction of US$ 1.4bn Ethiopia-Djibouti oil pipeline has finally been given authorization to commence after an agreement was signed between the two countries on February 7 this month. The project is set to take three years according to the Ethiopian Ambassador to Djibouti Suleman Dedefo.

The oil pipeline, which measures 550km in length, will stretch from the Djibout port to a fuel depot in Awash and find its way via Ethiopia’s eastern town, Dire Dawa. The fuel is at the end going to be distributed to the whole nation from Awash.

The oil pipeline construction project will be managed by the US-based African infrastructure development company Black Rhino. The signing was done by Ethiopia’s Minister for Mines, Tolosa Shagi and witnessed by Djibouti’s Minister for Energy in charge of Natural Resources, Ali Yacoub Mahamoud.

US$ 1.4bn Ethiopia-Djibouti oil pipeline project given greenlight

 

 

Construction of US$ 1.4bn Ethiopia-Djibouti oil pipeline has finally been given authorization to commence after an agreement was signed between the two countries on February 7 this month. The project is set to take three years according to the Ethiopian Ambassador to Djibouti Suleman Dedefo.

The oil pipeline, which measures 550km in length, will stretch from the Djibout port to a fuel depot in Awash and find its way via Ethiopia’s eastern town, Dire Dawa. The fuel is at the end going to be distributed to the whole nation from Awash.

The oil pipeline construction project will be managed by the US-based African infrastructure development company Black Rhino. The signing was done by Ethiopia’s Minister for Mines, Tolosa Shagi and witnessed by Djibouti’s Minister for Energy in charge of Natural Resources, Ali Yacoub Mahamoud.

US$ 1.4bn Ethiopia-Djibouti oil pipeline project given greenlight

 

 

Construction of US$ 1.4bn Ethiopia-Djibouti oil pipeline has finally been given authorization to commence after an agreement was signed between the two countries on February 7 this month. The project is set to take three years according to the Ethiopian Ambassador to Djibouti Suleman Dedefo.

The oil pipeline, which measures 550km in length, will stretch from the Djibout port to a fuel depot in Awash and find its way via Ethiopia’s eastern town, Dire Dawa. The fuel is at the end going to be distributed to the whole nation from Awash.

The oil pipeline construction project will be managed by the US-based African infrastructure development company Black Rhino. The signing was done by Ethiopia’s Minister for Mines, Tolosa Shagi and witnessed by Djibouti’s Minister for Energy in charge of Natural Resources, Ali Yacoub Mahamoud.

Marin Katusa on Oil and BRICS

 

Edward Harrison is joined by Marin Katusa – chief energy investment strategist at Casey Research and author of “The Colder War.” Marin tells us he sees oil going lower within the next 6 – 12 months because, despite the drop in rig count, output levels will remain elevated. Marin also gives us his take on the demand side problems, with China slowing much more than government statistics suggest and warns that hedges that expire by the end of 2015 will leave many companies naked and that’s when the penny could drop.

Marin says he thinks the $100 billion BRICS bank will help solve the problems that Russia and China want to solve but won’t necessarily help other economies in the emerging markets and gives us his take on what kind of impact oil and gas will have on the economy in Russia this year. He continues his comments with an in-depth analysis of oil and the Middle East with points on both Saudi Arabia and ISIS.