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What to look for when the major players in U.S. oil report quarterly results Thursday and Friday.
MEXICO CITY, Oct 30- Saddled with a tax rate of almost 100 percent, Mexican state oil company Pemex hands over so much cash to the government that it has only a fraction of the money it needs to invest in production and exploration.
*China now holds 21 percent of Iraq oilfield projects. BAGHDAD, Oct 30- From the giant southern oilfields to the lively souks of Basra, China is drilling ever deeper into Iraq.
Stocks finished near session highs Tuesday, with the S&P 500 touching a fresh high and the Dow within 50 points of an all-time record, as investors looked ahead to the Federal Reserve's announcement.
*Brent dips, holds near $109 as Libyan output stays low. NEW YORK, Oct 29- The S&P 500 hit a record on Tuesday to lead global equities higher ahead of a Federal Reserve meeting on the future of the U.S. stimulus program, while the euro hit a one-week low.
LONDON, Oct 29- Expansion projects for Algeria's In Amenas and In Salah gas producing sites will not get going next year as planned, BP Chief Executive Bob Dudley told a conference call for analysts on Tuesday.
Take a look at some of Tuesday's midday movers:
LONDON, Oct 29- BP Plc's upgraded 405,000 barrel per day Whiting refinery in Indiana will not reach full production until the first quarter of 2014, its quarterly results showed on Tuesday, an apparent slippage in the ramp-up timetable. But analysts said that in previous briefings, BP has said Whiting would deliver a full year of profits in 2014..
*Brent dips, holds near $109 as Libyan output stays low. NEW YORK, Oct 29- The S&P 500 hit a record on Tuesday, leading global shares higher ahead of a Federal Reserve meeting on the future of its stimulus program, while the euro neared a two-year high against the U.S. dollar.
Sears may separate Lands' End, Auto Center as sales slide. Sears Holdings is considering splitting off its Lands' End clothing and Sears Auto Center businesses, after another quarter of declining same-store sales.
LONDON, Oct 29- BP Plc's upgraded Whiting refinery in Indiana will not reach full production until the first quarter of 2014, its quarterly results showed on Tuesday, an apparent slippage in the ramp-up timetable.
*PetroChina, CNOOC, Sinopec invest heavily to boost output. HONG KONG, Oct 29- China's biggest state-owned oil firms, sitting on ageing fields, are scrambling to ramp up crude oil and natural gas production to meet surging domestic demand through a slew of investments that also risk pushing up their costs.
*Gold retreats from 5- week high and oil slides lower. LONDON, Oct 29- Strong earnings from global oil giants led a rebound in European shares on Tuesday as other major markets settled into narrow ranges ahead of a U.S.
U.S. stock index futures held their gains Tuesday, with the S&P 500 poised to hit a fresh high, despite a weaker-than-expected retail sales report and ahead of the Federal Reserve's two-day meeting.
*BP, Saipem fuel energy rally after results. LONDON, Oct 29- European shares rose modestly on Tuesday as estimate-beating results at BP and Saipem fuelled a surge in the oil sector, a major laggard of this year's equity rally.
BP's forecast beat analysts' estimates, it hiked its dividend, and promised to sell more assets and return the proceeds to shareholders.
Oil giant BP on Tuesday reported forecast-beating profit for the third quarter and hiked its dividend by 5.6 percent.
CEO Bob Dudley says investors should view BP as a "fundamentally sound oil and gas company" and explains why the group is "excited about exploration."
Bob Dudley, CEO of BP, talks about the dividend rise and share buyback program and the group's venture in Russia.
Bob Dudley, CEO of BP, explains that the group is now smaller and discusses the litigation overhang the group is suffering from.