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Integrated Oil and Gas

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  • May 6- Husky Energy Inc, Canada's No.3 integrated oil company, reported a 71 percent drop in quarterly profit, hurt by weak oil and gas prices. Cash flow from operations, an indicator of the company's ability to pay for new projects, declined more than 45 percent to C $838 million, or 85 Canadian cents per share, in the first quarter ended March 31, Husky Energy said on...

  • LONDON, May 1- The world's top oil companies can expect only limited solace from refining for the rest of the year, even as the often-troubled segment proved valuable in the face of sinking oil prices. Overcapacity in the sector previously made it the bane of integrated oil majors such as BP, Royal Dutch Shell, Exxon Mobil, Chevron, Total and Eni.

  • April 30- Imperial Oil Ltd, Canada's No.2 integrated oil producer and refiner, on Thursday reported a 55 percent fall in quarterly profit as global crude prices halved. Imperial Oil Chief Executive Rich Kruger said the company, which is 69.6 percent owned by Exxon Mobil Corp, would maintain a cautious spending outlook in the months to come. The company is close to...

  • Are floodgates about to open for Australia M&A? Thursday, 9 Apr 2015 | 12:38 AM ET

    Shell's takeover bid for BG may be a harbinger of more deals for Australia's resources sector, which has taken a body blow from low commodity prices.

  • These could be the next energy buyers and sellers Wednesday, 8 Apr 2015 | 11:49 AM ET

    Exxon could make a deal soon, and targets for oil majors range from U.S. shale producers to distressed mining and resources firms, analysts tell CNBC.

  • Harding: When market turns, we lose money Friday, 27 Mar 2015 | 5:10 AM ET
    Harding: When market turns, we lose money

    David Harding, Founder and CEO of Winton Capital Management, discusses how the low oil price is impacting his portfolio.

  • This analyst has a 'hold' rating on Sinopec Sunday, 22 Mar 2015 | 11:47 PM ET
    This analyst has a 'hold' rating on Sinopec

    Jackson Wong, Associate Director at United Simsen Securities, says Sinopec's stock will trade sideways until the unveiling of restructuring plans, which are likely due this year.

  • Oil prices fall in 'idiosyncratic' market Tuesday, 17 Mar 2015 | 5:00 AM ET
    Oil prices fall in 'idiosyncratic' market

    Sabine Schels, senior director and global commodity strategist at BofA Merrill Lynch Global Research, discusses the bearish, "idiosyncratic" oil market.

  • This signals more oilfield mergers may be coming Monday, 16 Mar 2015 | 2:55 PM ET
    Pumpjacks operate at an oil well in Williston, North Dakota.

    Exploration and production firms have issued nearly $9 billion in stock this year, well above recent first-quarter totals.

  • Egypt open for business Monday, 16 Mar 2015 | 6:00 AM ET
    Egypt open for business

    Mustafa Abdel-Wadood, board member & chairman of the management executive committee at The Abraaj Group, talks about the opportunities going forward in Egypt, however, there's a huge shortfall in energy in the country

  • Oil firms are swimming in data they don't use Thursday, 5 Mar 2015 | 1:39 PM ET

    The energy industry's failure to use the data it collects means it's not as efficient as it could be, leaving money on the table.

  • Oil layoffs could come back to haunt the industry Tuesday, 10 Feb 2015 | 11:10 AM ET
    Flared natural gas is burned at Apache operationin the Permian Basin in Garden City, Texas.

    Job cuts are inevitable as oil prices tumble, but layoffs today could have significant ramifications for the sector tomorrow.

  • Is this oil rally the real deal? Tuesday, 3 Feb 2015 | 11:33 PM ET
    A worker inspects valves and pipes at an oil gathering station in Russia, January 28, 2015.

    Oil prices have rallied off post-crisis lows, possibly marking the rout's bottom as producers' cutbacks begin pinching supply, some analysts said.

  • Feb 2- Imperial Oil Ltd's Kearl oil sands project expansion will start ahead of schedule, the company said on Monday, in the latest sign that weak crude prices are failing to dent oil sands growth. Imperial, Canada's second-largest integrated oil producer and refiner, said construction on the Kearl expansion in northern Alberta is essentially complete.

  • Feb 2- Imperial Oil Ltd, Canada's second-largest integrated oil producer and refiner, posted a 36.5 percent fall in quarterly profit, hurt by lower crude prices as well as weaker refining and marketing margins. Imperial Oil joins a list of Canadian and U.S. oil and gas producers who have scaled back capital spending plans for 2015, following a sharp decline in oil...

  • NEW YORK, Jan 12- With nearly a quarter of U.S. energy shares' value wiped out by oil's six-month slide, investors are wondering if the sector has taken enough punishment and whether it is time to pile back in ahead of earnings reports later this month. "Things have changed a lot quicker than I thought they would," says Greg Doramus, sales manager at Orion Drilling in...

  • NEW YORK, Jan 12- With nearly a quarter of U.S. energy shares' value wiped out by oil's six-month slide, investors are wondering if the sector has taken enough punishment and whether it is time to pile back in ahead of earnings reports later this month. "Things have changed a lot quicker than I thought they would," says Greg Doramus, sales manager at Orion Drilling in...

  • Jan 11- A fire that started after an explosion on Saturday at Husky Energy Inc's 155,000- barrel-per-day crude oil refinery in Lima, Ohio, has caused extensive damage to a unit at the plant, a fire official said Sunday. No injuries were reported in the blast, which was heard across the city and shattered nearby windows, according to local media reports.

  • HOUSTON, Jan 10- A loud explosion rocked Husky Energy's 155,000 barrel per day crude oil refinery in Lima, Ohio, on Saturday and a source familiar with the facility's operations expected production slowdowns but not a complete shutdown. No injuries were reported in the blast, which occurred at about 6 a.m. local time The explosion was heard across the city of Lima,...

  • HOUSTON, Jan 10- A loud explosion rocked Husky Energy's 155,000 barrel per day crude oil refinery in Lima, Ohio, early on Saturday but no injuries were reported. The blast at about 6 a.m. local time was heard across the city of Lima, according to local media reports. A Lima- area emergency management official told the Lima News that the explosion was on the 26,000 bpd...