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NEW YORK— Hess Corp.' s first-quarter loss widened, as the oil and gas producer dealt with lower realized selling prices and a decline in production. A year earlier the New York- based company lost $389 million, or $1.37 per share. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.81 per share.
Integrated oil and gas companies face headwinds as upstream production remain under pressure and downstream refinery margins are tightening.
BISMARCK, N.D.— A petroleum tanker laden with 175,000 barrels of North Dakota crude was being offloaded in Europe on Wednesday, the first such overseas shipment of the state's oil since Congress lifted a 40- year ban on crude exports in December. North Dakota's congressional delegation and industry officials hailed Hess Corp.' s shipment as a milestone that...
PROVIDENCE, R.I.— Rhode Island's $7.5 billion pension fund will vote "no" any time a company in which it invests nominates a slate of corporate board nominees that would cause fewer than 30 percent of directors to be women or racial minorities, the state's treasurer said Wednesday. "Even if little Rhode Island isn't necessarily going to tip the scales in a lot of...
Strategists at Goldman Sachs believe valuations for a group of stocks may present an attractive investment.
A long-expected wave of dealmaking may finally emerge as weaker producers’ financing dries up.
Hess is selling 25 million shares at a discounted $39 after acquiring nearly 63 million at the end of 2014 at an average price of $83.
Jim Cramer explains what to watch ahead of the open, including Hess Corp. and conditions for energy companies in the oil patch.
Oil saw an 8 percent rally on Wednesday; is this the start of something bigger?
Tortoise Capital Advisors Managing Director Rob Thummel explains his forecast for oil and what areas of energy his long-only funds are focused on.
Energy companies are coming down to the last dollars in their wallets, a CNBC analysis found.
Chevron reported a fourth-quarter loss on Friday as the oil producer grappled with how best to handle plunging crude prices.
CNBC contributors discuss who's selling and why, and what investors should be doing in this time of fear.
A storm in the North Sea forced oil firms to evacuate rigs and stop production, with installations under threat from a drifting barge.
Check out the companies making headlines after the bell Wednesday: Cal-Maine Foods, Micron Technology, Hess Corporation & more
Oil will be "lower for longer," the CEO of Hess tells CNBC, while still predicting a near doubling of prices by the end of 2016.
NEW YORK, Dec 16- U.S. solar company shares rallied on Wednesday after U.S. lawmakers reached a deal to extend investment tax credits beyond 2016, with SolarCity jumping 34.1 percent in its best-ever daily percentage gain. SolarCity gained 34.1 percent to $53.69 and erased its loss for the year. Ahead of agreement in Washington, Lutts, who said he sold solar...
WASHINGTON, Dec 16- The United States appears on the brink of ending a four-decade ban on most exports of crude oil, which would end a years-long fight brought about by a boom in domestic shale output that contributed to a supply glut and depressed prices. The measure is part of a sprawling deal wrapped up by congressional leaders late on Tuesday to keep the U.S....
NEW YORK, Dec 16- Shares of oil producers edged higher on Wednesday after U.S. lawmakers approved a spending bill that would lift a 40- year-old ban on domestic crude exports, while U.S. solar companies surged as Congress extended investment tax credits beyond 2016.. Shares of Hess Corp rose 1.3 percent to $52.41, while Chevron gained 1 percent to $93.67.
The projected declines in 2016 non-OPEC crude production will come from shale drillers, not oil majors, analysts tell CNBC.