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Tag Archives: energy markets

Statoil swings to Q1 profit partly offset by cost cuts

COPENHAGEN, Denmark (AP) — Norwegian oil and gas company Statoil ASA has swung to a profit of $611 million in the first quarter as reduced costs helped offset low crude prices. The figure reported Wednesday compares with a loss of $4.57 billion in the same period last year, when Norway’s biggest oil producer had large write-downs. Revenue at the partly ...

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Asian stocks mixed on oil price rally, central banks watch

MANILA, Philippines (AP) — Asian stocks were mixed Wednesday after an overnight surge in oil prices raised questions about the outlook for the energy sector. Investors are watching for the outcome of policy meetings by the U.S. Federal Reserve and Bank of Japan. KEEPING SCORE: Japan’s benchmark Nikkei 225 lost 0.4 percent to 17,276.52. Hong Kong’s Hang Seng fell 0.2 ...

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North Dakota tax collections continue falling below forecast

BISMARCK, N.D. (AP) — North Dakota continues to see bleaker-than-expected state tax revenue collections from declining oil activity in the state. Office of Management and Budget Director Pam Sharp says revenues for March totaled $98.8 million. That’s $13.8 million less than what had been projected. Tax collections already are down more than $20 million since a new revenue forecast was done ...

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Saudi Arabia outlines sweeping economic reform plans

Saudi Arabia outlines sweeping economic reform plans

RIYADH, Saudi Arabia (AP) — Saudi Arabia on Monday approved a long-awaited plan laying out reform priorities for the next decade and a half, setting in motion what is likely to be a period of significant economic change in the oil-rich kingdom. The project, which includes plans to float a stake in the world’s largest oil company and set up ...

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US stocks edge mostly higher as oil prices bounce back

U.S. stock indexes edged mostly higher in early trading Friday as rising oil prices pushed energy companies higher. Technology companies were the biggest laggards as Microsoft and Google parent Alphabet declined on disappointing earnings. Investors pored through the latest batch of earnings from big companies, including McDonald’s, American Airlines Group and General Electric. KEEPING SCORE: The Dow Jones industrial average ...

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‘Hard choices’ in Texas as oil bust, costly lawsuits collide

AUSTIN, Texas (AP) — The oil bust already shrinking Texas’ coffers is colliding with the possibility of the state getting socked with multibillion-dollar verdicts in major lawsuits, budget officials said Tuesday, which could test years of Republican resistance to cracking the state’s emergency piggybank. No lawmakers or budget-crunchers raised the potential of spending cuts or a shortfall when the Legislature ...

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