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Posts under ‘Oil Prices’

Many predicting oil prices as low as $40 per barrel

With the oil market appearing set to endure worsening fundamentals over the next few years at least, shareholders could see dividends at Shell come under severe pressure once again. FROM AN ARTICLE BY ROYSTON WILD PUBLISHED BY THE MOTLEY FOOL ON MON 15 DEC 2014 Headline: Is Royal Dutch Shell Plc Really Robust Enough To […]

Oil price to dip to $50 or even lower?

By John Donovan Recognising the seismic significance of the continuing collapse in the price of oil, The Sunday Times devoted several articles to the subject last weekend. It has done the same again this weekend, with coverage in the main newspaper and in the Business Section. Oil price slump puts explorers up for grabs Predators circle… Extracts […]

Talk of Shell BP tie-up to create £200bn world leader

After a solid 10 hours locked in secret briefings at the Langham Hotel in London this week, 100 of BP’s top investors emerged into the crisp winter evening air to the grim news that oil prices had sunk to a new five-year low. From an article in The Sunday Telegraph 14 December 2014 by Andrew […]

Oil keeps getting cheaper and cheaper

FROM THE WASHINGTON POST ARTICLE BY CHRIS MOONEY PUBLISHED 12 Dec 2014 The basic reason oil keeps getting cheaper and cheaper It may well take some time for supply and demand to respond to the price rout… Extracts Oil prices continued their slump even lower today, with West Texas Intermediate crude — a U.S. benchmark […]

Oil prices continued their collapse on Friday

Oil prices continued their collapse on Friday… The new rout began Friday morning… Gas prices will continue to be in a free fall as long as crude oil is searching for a bottom,” the AAA motor club reported on Friday. From an article published by The New York Times on page B1 of the New […]

Leaked BP CEO Internal Memo

It’s completed about $43 billion of asset sales since the 2010 oil spill in the Gulf of Mexico. The offshore disaster has cost London-based BP more than $28 billion in clean-up costs and damages, and the company is still fighting legal battles on multiple fronts. BLOOMBERG NEWS ARTICLE BP Chief Says Company Must Slim Down […]

US oil price below $60 a barrel

From a Financial Times article published 11 December 2014 @10.49pm: US crude closed below $60 a barrel US crude closed below $60 a barrel for the first time in five and a half years… The declines came on top of falls of more than $2 on Wednesday after the Opec producers’ cartel said demand for […]

WILL BP BE ABLE TO SURVIVE?

By: MICHEAL KAUFMAN Published: Dec 11, 2014 at 4:50 pm EST The operating cashflow for BP plc (ADR) (NYSE:BP) is expected to grow 5.3% between 2014 and 2017. BP is slightly above Royal Dutch Shell plc’s (ADR) (NYSE:RDS.A) growth rate of 4.1%.There have been several factors that have contributed to low expected growth for the […]

EXXONMOBIL TAKE ON GLOBAL ENERGY OUTLOOK

By: MICHEAL KAUFMAN Published: Dec 10, 2014 at 10:02 am EST Exxon Mobil Corporation(NYSE:XOM) revealed its annual energy outlook yesterday and maintained its stance despite the fact that crude price has declined 40% since its peak in late-June. This has resulted in energy companies slashing down their capital spending plans and slowing down growth in […]

BP to axe 1,000 jobs amid warning of oil price plunge to $40

Oil giant BP has said it will rack up costs of at least $1 billion (£637 million) over the next year as it embarks on a corporate shake-up which could cull more than 1,000 jobs. It comes as an Iranian official in the Opec oil cartel said crude prices could plunge as low as $40 a […]

Opec is finished – the oil crash will continue

The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over the coming months as market forces shake out the weakest producers, Bank of America has warned. The major oil companies will have to cut back on projects with a break-even cost below $80 for Brent […]