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Posts under ‘Oil Prices’

BP, Shell, Morgan Stanley seek end of oil price-fixing lawsuit

Extracts from a Reuters article by Jonathan Stempel published Tuesday 29 July 2014 (Reuters) – BP Plc, Royal Dutch Shell Plc, Morgan Stanley and other companies urged a U.S. judge to dismiss nationwide litigation claiming they conspired for 12 years to fix prices of Brent crude oil, a benchmark for the cost of gasoline and […]

BP a better investment than Shell right now

Extracts from an article by David Thorpe published 22 July 2014 by What Investment under the headline: “M&G: BP is a better investment than Shell right now” Felton’s reason for not investing in Shell at present is that he believes the company has made a significant strategic blunder. ‘Shell has always been the high cost, […]

Royal Dutch Shell Feeling the Pain

Extracts from a Motley Fool article by Rupert Hargreaves under the headline: “Did ExxonMobil Make the Right Decision About Europe?” Feeling the pain There’s no company that is feeling the pain more than Royal Dutch Shell (NYSE: RDS-B ) . Shell’s CEO, Ben van Beurden previously described the company’s refining sector results as “unacceptable.” It’s […]

Oil explorers hit rock bottom

Extract from an extensive FT article by Guy Chazan published 2 July 2014 International exploration and production companies – or E&Ps – were once stock market darlings. But E&Ps have lost their lustre. That is partly because they seem to have lost the knack of discovering oil. FULL FT ARTICLE

Marvin Odum speaks out

Article by M. Nadeem published 27 June 2014 by insider monkey.com under the headline: “Royal Dutch Shell plc’s Subsidiary Shell Oil Company President Marvin Odum Discusses Energy Industry State” In a Fox News’ Opening Bell program on June 27, Shell Oil Company’s, a subsidiary of Royal Dutch Shell plc), President, Marvin Odum, talked about the […]

Shale’s junk debt could get shaky if Fed raises rates

Extracts from a Houston Chronicle article by Collin Eaton published 27 June 2014 (Good article. Not Shell specific, but a generic problem to which Shell is heavily exposed) Two years after natural gas prices collapsed, Chesapeake Energy’s $12 billion in corporate debt last month nearly made it out of junk territory. The natural gas producer […]

BP and Shell keep a watchful eye on events in Iraq

Extracts from a This Is Money/Daily Mail article by Rob Reed published 27 June 2014 under the headline: “BP and Shell keep a watchful eye on events in Iraq as violence continues to escalate in the region” The upward pressure on oil prices since terror group ISIS began its horrific offensive has been echoed by […]

Oil prices poised to tumble

Extracts from an article by By Andrew Critchlow, Business News Editor of The Telegraph, published 12 May 2014 under the newspaper headline: “Oil prices poised to tumble as US toys with opening reserve stocks” Oil prices are on the brink of possibly their biggest correction since the global financial crisis after Vladimir Putin’s gamble to […]

Hess, Mercuria Added to Brent Crude Oil Price-Fixing Lawsuit (1)

Extracts from a Bloomberg News article by Bob Van Voris published 29 April 2014 Mercuria Energy Trading SA and a Hess Corp. (HES:US) unit were added as defendants to a lawsuit claiming they conspired with oil companies including BP Plc (BP/), Statoil ASA (STL) and Royal Dutch Shell Plc (RDSA) to manipulate Brent crude oil […]

Phillips 66, Shell Purchase Majority of U.S. Reserve Oil Sale

Extracts from an article by Dan Murtaugh published 17 March 2014 by BloombergBusinessweek Phillips 66 and Royal Dutch Shell Plc walked away with about 3.3 million barrels of the 5 million that the Energy Department sold in what will be the first release from the U.S. Strategic Petroleum Reserve since 2012. Phillips 66 purchased 2.04 […]

Big oil counts the cost of tapping new discoveries

Extract from an excellent article by Ed Crooks of The Financial Times published 6 March 2014 The issue has come to a head after three years in which the price of crude has drifted down… while costs have continued to rise. Chevron’s and ExxonMobil’s shares have both risen by 11 per cent in the past […]