ConocoPhillips beats Q3 profits on higher production and share buyback
ConocoPhillips surpassed Wall Street's estimates for the third quarter profit on Thursday, as the Texas oil and gas company reaped benefits from higher production. Its shares rose 2.6% to $105.5 at premarket trading. The volatility of commodity prices has been a major topic in recent months.
Hess reports a quarterly profit increase as Guyana's oil production remains strong
Hess Corp, a leading oil producer in Guyana, beat expectations for the third quarter profit on Wednesday. The Guyana assets have been at the heart of a dispute between Exxon and Chevron that has delayed Chevron’s $53 billion purchase of Hess. Hess agreed on the buyout in October last year…
Bloomberg News: Chevron and Hess CEO agree that Hess will not be joining the board of directors in a deal with US regulator
Bloomberg News, citing sources familiar with the situation, reported that U.S. Energy Major Chevron agreed with U.S. Federal Trade Commission Hess CEO John Hess would not join its board as part of an agreement to proceed with a $53 billion acquisition deal.
Sources say that the FTC is set to approve chevron’s purchase of Hess for $53 billion, according to sources.
Two people with knowledge of the matter say that the U.S. Federal Trade Commission will likely approve the purchase by U.S. oil company Chevron of Hess this week. Exxon Mobil is the last hurdle to clear. The merger proposal was announced in October last year.
Icahn Steps up Fight with Occidental
Billionaire investor Carl Icahn on Wednesday ratcheted up his fight with Occidental Petroleum over its pending purchase of rival Anadarko Petroleum by calling for a special shareholder meeting where he hopes to win board seats.In a regulatory filing, Icahn…
US FTC Approves Oxy's Bid for Anadarko
Oil and gas producer Occidental Petroleum Corp said on Tuesday the U.S.
Enterprise: Clients Must Pay for Dock Work
Enterprise Products Partners LP said on Wednesday that companies using its crude oil storage facility in the Houston Ship Channel must pay extra for dock services, brushing off complaints from client BP Plc . "We believe if you want a service, you pay for it…
US Regulator Closes Statoil Price-Fixing Probe
Norway's Statoil was told by the U.S. Federal Trade Commission that it was closing a probe into anticompetitive practices in oil price reporting and assessment, it said on Tuesday. The announcement comes after a similar statement from BP . "We have received…
FTC: BP Energy Price-Fixing Probe Closed
FTC closed probe into BP with no charges or fines; other regulators still investigating. BP said on Tuesday it was told by the U.S. Federal Trade Commission (FTC) it was closing its probe into anticompetitive practices in oil price reporting and assessment, but other regulators were still investigating.
BP Says US, Asia Regulators Ask for Details After EU Price Probe
BP Plc said regulators from the United States and Asia have asked it for information after the European Commission's started an investigation last year into suspected manipulation of oil prices. London-based BP, Europe's second-largest oil company, made the disclosure in its annual report released on Thursday.
