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Posts under ‘Oil Prices’

Shell Chief Pledges Everything to Maintain Its ‘Iconic’ Dividend

BLOOMBERG: Shell Chief Pledges Everything to Maintain Its ‘Iconic’ Dividend by Nidaa Bakhsh and Mark Barton (Bloomberg) — Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden pledged to do all he can to maintain payments to shareholders of Europe’s largest oil company after crude prices fell by more than half in the past six months. […]

Royal Dutch Shell Reports 57 Percent Drop in Net Income

LONDON — Jan 29, 2015, 3:42 AM ET: By DANICA KIRKA Associated Press Royal Dutch Shell PLC, Europe’s largest oil company by market value, said Thursday that fourth quarter net income fell 57 percent to $773 million and that it would cap spending this year in response to falling oil prices. Shell is one first big […]

Shell to cut spending by $15 bln over next 3 years

Jan 29 (Reuters) – Oil major Royal Dutch Shell said on Thursday it would curtail spending by $15 billion over the next 3 years while keeping dividends stable in a bid to calm investors amid plunging oil prices. Europe’s largest oil company by market value kept its fourth-quarter dividend stable versus the previous quarter at […]

Oil tumbles; U.S. crude prices near six-year low on record stockpiles

Goldman Sachs analysts said in a Tuesday note that they expected U.S. crude, also known as WTI, to remain near $40 a barrel in the first half of this year REUTERS By Barani Krishnan NEW YORK (Reuters) – Oil slumped on Wednesday, with U.S. crude prices at near six-year lows, after the government reported record-high […]

Crude at $49: The New Reality for Big Oil Companies

FROM BLOOMBERG Crude at $49: The New Reality for Big Oil Companies by Joe Carroll (Bloomberg) — Financial results from a fourth quarter that saw the collapse of the crude market will provide a window into how the world’s biggest oil companies are adjusting to a new reality of slowing growth and low prices. Oil that […]

Obama moves to block development in 9.8 million acres of Arctic Ocean

Krestia DeGeorge,Nathaniel Herz: January 27, 2015 Citing biodiversity and Alaska Native subsistence whaling, the Obama administration moved to block development in 9.8 million acres within the Beaufort and Chukchi seas as part of a new five-year outer continental shelf oil and gas leasing program, the draft of which was released Tuesday morning by the Department of the […]

U.S. Seen Limiting Oil Drilling in Arctic, May Open Atlantic

26 JAN 2015 (Bloomberg) — The U.S. Interior Department will lay a framework as soon as Tuesday for oil exploration in the nation’s coastal waters in a five-year plan that is expected to withdraw areas off Alaska while possibly adding parts of the Atlantic. Republican Lisa Murkowski said the head of the offshore energy office […]

Oil price lays waste to energy giants

FROM AN ARTICLE BY DANNY FORTSON OF THE SUNDAY TIMES PUBLISHED 25 JAN 2015 UNDER THE HEADLINE:  “Oil price lays waste to energy giants” THE chaos unleashed by the collapse of the oil price will be laid bare in the next fortnight as BP reveals a halving of profits, Shell cuts billions in spending, and Centrica […]

Oil giant Shell set for further cost cuts

By GEOFF HO: Published Sunday January 25, 2015   Royal Dutch Shell chief executive Ben van Beurden will outline how the company plans to deal with the collapse in crude oil prices when he unveils its results on Thursday. The oil giant is expected to reveal further cost-cutting measures alongside a 4.6 per cent fall […]

Who Will Rule the Oil Market?

OPINION ARTICLE BY DANIEL YERGIN PUBLISHED IN PRINT BY THE NEW YORK TIMES ON SATURDAY 25 JAN 2015 WASHINGTON — A HISTORIC change of roles is at the heart of the clamor and turmoil over the collapse of oil prices, which have plummeted by 50 percent since September. For decades, Saudi Arabia, backed by the […]

Can BP and Royal Dutch Shell weather the storm?

From an article by Kyle Caldwell published by The Telegraph on 23 Jan 2015 under the headline: “Oil shares yield 6pc, but are the dividends safe?” Since June the price of Brent Crude has fallen from $116 a barrel to just below $50 last week. The plunge means these companies will generate far lower revenues […]