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Stocks BP PLC


  • HOUSTON, Aug 5- As oil prices entered a second steep slide a few weeks ago, bullish traders and analysts had hoped for a repeat of the sharp but short dip that occurred early in the year- a speculative slide below $50 a barrel followed by a quick recovery. Some are now reconsidering that view, as long-term oil prices take the lead in the market's latest dive, swaying...

  • Countries that import energy, such as the U.S., China, Japan and those in the European Union, are getting an economic boost. Exporters, such as Russia, Saudi Arabia and Venezuela are facing lower income and budget shortfalls. Reason: Huge increases in oil production in the U.S. and Canada, along with sizable gains in Iraq and elsewhere, helped boost global supplies.

  • NEW YORK— As drivers, shippers and airlines continue to enjoy lower fuel prices, the oil industry is responding to much lower profits with sharp cuts in spending and employment that are hurting economic growth. For instance, Exxon Mobil said Friday it cut spending by $1.54 billion in the second quarter, while Chevron announced it is laying off 1,500 workers.

  • July 31- Weak oil prices shriveled quarterly profit at Exxon Mobil Corp and Chevron Corp on Friday, compelling both companies to rethink operations and plan for what many expect to be a sustained period of cheap crude. Evan Calio, an analyst with Morgan Stanley, said on Exxon's earnings conference call that the oil giant appeared to be less vocal than its peers...

  • NEW ORLEANS— Attorneys are eyeing a November retrial date for Kurt Mix, the former BP engineer charged with obstructing a federal investigation into the 2010 Gulf of Mexico oil spill. Court papers filed Thursday show attorneys are working toward a Nov. 16 date but may seek to push the trial back to Nov. 30. Federal prosecutors say Mix deleted text messages about the...

  • July 30- Oil and gas producer Penn Virginia Corp had put itself on the block but received no "credible bids," Chairman Edward Cloues said on Thursday, a day after the company cut its 2015 production forecast. Penn Virginia's shares plunged 35 percent to an all-time low of $1.33, valuing the company at about $96 million. Radnor, Pennsylvania- based Penn Virginia is an...

  • CALGARY, Alberta, July 29- Canada's Conservative government is studying whether to extend Arctic drilling licenses, a move that could open the door to relinquishing millions of dollars in deposits paid by major energy companies. The government review began after Imperial Oil Ltd said last month it and partners Exxon Mobil Corp and BP Plc needed more time...

  • I’m investing here, avoiding this: Leon Cooperman Tuesday, 28 Jul 2015 | 6:43 PM ET
    Leon Cooperman

    Leon Cooperman wouldn't be buying energy stocks aggressively, but here is where he is putting his money.

  • 'Good selling opportunity' in oil stocks: Expert Tuesday, 28 Jul 2015 | 3:42 PM ET
    Technicians prepare oil drilling equipment to be used at Vaca Muerta Shale oil reservoir in Loma Campana. YPF has an agreement with US Chevron to exploit Vaca Muerta.

    While big-name oil stocks rose in tandem with the commodity Tuesday, they're still slated to struggle, one industry analyst said.

  • Trader: Buy this energy stock despite oil slide Tuesday, 28 Jul 2015 | 12:17 PM ET
    A Marathon gas station in Chicago.

    CNBC "Halftime Report" trader Jim Lebenthal is buying an energy stock he believes will move higher regardless of the direction of oil prices.

  • European stocks finish higher; RSA surges 20% Tuesday, 28 Jul 2015 | 11:53 AM ET
    An investor checking the share prices in a stock firm in Fuyang, east China's Anhui province.

    Europe ended in positive territory on Tuesday, as investors kept an eye on the slew of earnings and the start of the Federal Reserve meeting, while British insurer RSA surged 20%.

  • BP has a number of challenges ahead: Pro Tuesday, 28 Jul 2015 | 11:20 AM ET
    BP has a number of challenges ahead: Pro

    Michael Hulme, commodity equities fund manager at Carmignac, talks about BP's future following its Q2 earnings.

  • US stocks seen higher, spotlight turns to Fed Tuesday, 28 Jul 2015 | 9:03 AM ET
    Federal Reserve Board Chair Janet Yellen testifies during a hearing before Senate Banking, Housing and Urban Affairs Committee July 16, 2015 on Capitol Hill in Washington, DC.

    U.S. stocks were tipped to open higher on Tuesday, ahead of the start of the U.S. Federal Reserve's two-day meeting, a raft of earnings and data.

  • Early movers: F, PFE, MRK, DD, WYN, DHI & more Tuesday, 28 Jul 2015 | 8:36 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.

  • Panda bear market

    U.S. stocks have some powerful negatives tugging at them, not the least of which are the Shanghai "panda bear" market and a global commodities rout.

  • BP warns on oil price after announcing $6.3B loss Tuesday, 28 Jul 2015 | 4:00 AM ET
    BP warns on oil price after announcing $6.3B loss

    Oil giant BP reported a $6.3 billion loss on Tuesday, and warned that low oil prices are here to stay.

  • Energy company BP slides to loss in 2nd quarter Tuesday, 28 Jul 2015 | 3:22 AM ET

    LONDON— BP reported a second-quarter loss Tuesday after the London- based oil company set aside another $10.8 billion to cover the cost of the Deepwater Horizon accident. The net loss of $5.82 billion compared with net income of $3.37 billion a year earlier. The report is the first since BP announced a deal that will provide a further $18.7 billion to five U.S....

  • BP warns on oil price after reporting $6.3B loss Tuesday, 28 Jul 2015 | 2:04 AM ET

    BP, the oil giant, announced a second-quarter replacement cost loss of $6.3 billion, and warned low oil prices are here to stay.

  • Ahead of BP's Q2 results: What to expect Tuesday, 28 Jul 2015 | 12:47 AM ET
    Ahead of BP's Q2 results: What to expect

    Jonathan Barratt, chief investment officer at Ayers Alliance Securities, explains why he's expecting weaker second-quarter results for BP.

  • NEW ORLEANS— A federal judge says BP will begin paying up to $1 billion in settlements to compensate local governments across the Gulf Coast for lost tax revenue and other economic damages they blame on the company's 2010 oil spill. July 15 was the deadline for roughly 500 local governments in five states to decide whether to accept BP's settlement offers as...