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Tag Archives: chevron corp

Top 5 Bakken news stories – April 2-8

top 5 bakken news stories april 2-8

It’s been a slow week in the Bakken so this week’s recap brings you a mixture of for sale signs in the Marcellus, Exxon getting probed, Texas losing more jobs, and OPEC members announcing a potential production freeze. Exciting! And… because you, dear reader, earned it: a bonus story at the end of the page! Have you ever wondered how ...

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Exxon’s 4Q and annual profit plunge with oil prices

FILE - This April 29, 2014, file photo, shows an Exxon sign at a Exxon gas station in Carnegie, Pa. Exxon Mobil Corp. reports quarterly financial results on Tuesday, Feb. 2, 2016. (AP Photo/Gene J. Puskar, File)

DALLAS — The big plunge in oil prices is taking Big Oil’s profits down. Exxon Mobil Corp. said Tuesday that fourth-quarter profit fell 58 percent to $2.78 billion. It was the oil giant’s smallest profit since the third quarter of 2002. Exxon’s core exploration and production business lost money in the U.S. and international earnings plummeted by nearly two-thirds. One ...

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Shell Canada carbon capture likely last to get Alberta subsidies

CALGARY, Alberta – Royal Dutch Shell’s launch on Friday of Canada’s first oil sands project to capture and bury carbon emissions – assisted by generous public subsidies – will likely be the last to get such funding, the Alberta government said this week. The left-leaning New Democratic government of the energy-rich Western Canadian province, home to the country’s controversial oil ...

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Canadian minister rejected Arctic drilling review warning – memo

CALGARY – Canada’s Conservative government rejected advice from its bureaucrats warning it was “inappropriate” to use a sole-source contract to hire a consultant to review the country’s Arctic drilling legislation, according to a memo obtained by Reuters. The memo, released under Canada’s Access to Information Act, was prepared for Aboriginal Affairs and Northern Development Minister Bernard Valcourt by his department. ...

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Chesapeake Energy suspends dividend payments

Chesapeake Energy Corp, the second-largest U.S. natural gas producer, said on Tuesday it will suspend dividend payments starting in the current quarter to save up to $240 million a year. The company, which like other oil and gas producers has been hurt by a drop in prices, had planned to pay an annual dividend of 35 cents per share. Analysts ...

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Chevron sells more Marcellus land

chevron

While continuing the process of reorganizing its operations, Chevron Corp.’s Appalachia business group is putting 11,700 Marcellus Shale acres on the market. As reported by the Pittsburgh Business Times, “According to a listing on EnergyNet, Chevron (NYSE:CVX) is accepting sealed bids on the acreage in Clearfield and northern Cambria counties until May 21.  The acreage, about 52 percent of which ...

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