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Oil and Gas Integrated Oil and Gas

  • April 12- Billionaire investor Carl Icahn's oil refining company, CVR Energy, made a massive bet in 2016 that prices for U.S. government biofuels credits would fall- just before Icahn started advising President Donald Trump on regulations driving that market. Last year, in a counterintuitive trading strategy, Icahns refining firm postponed buying biofuels...

  • *Targets $3 bln boost to free cashflow by 2021. LONDON, March 29- BP has no plan to build new refineries despite growing oil production and will focus on modernising existing plants while expanding its network of filling stations to generate $3 billion in additional cash. Refining of crude oil into fuels such as gasoline, diesel and jet fuel has for years been the...

  • *Targets $3 bln boost to free cashflow by 2021. LONDON, March 29- BP has no plan to build new refineries despite growing oil production and will focus on modernising existing plants while expanding its network of filling stations to generate $3 billion in additional cash. Refining of crude oil into fuels such as gasoline, diesel and jet fuel has for years been the...

  • *Targets $3 bln boost to free cashflow by 2021. LONDON, March 29- BP plans to sell more refineries without investing in new plants despite growing oil production and will focus on modernizing existing operations while expanding its network of filling stations to generate $3 billion in additional cash. Refining of crude oil into fuels such as gasoline, diesel and...

  • KHOBAR, Saudi Arabia/ DUBAI, March 10- When Saudi Aramco reveals a Western audit of its oil reserves, investors will be looking for two answers: How much oil and how much detail? Saudi Energy Minister Khalid al-Falih has hinted at a surprise on the upside on reserve volumes ahead of Aramco's 2018 share listing, but industry sources say detail on individual deposits...

  • It also drew sharp criticism from some ethanol groups who said Trumps regulation adviser, billionaire investor and refinery owner Carl Icahn, had engaged in self-dealing by pushing for the deal. The head of the Renewable Fuels Association said the White House had informed him that Trump intends to sign an executive order shifting the obligation of blending...

  • Canada's No.2 integrated oil producer and refiner sold its remaining company-owned Esso retail stations to five fuel distributors for about C $2.8 billion, resulting in a C $988 million gain in the quarter. The company's oil and gas business posted net income of C $103 million, compared with a loss of C $289 million a year earlier, helped by a recovery in oil...

  • Chevron CEO John Watson

    Chevron CEO John Watson says he agreed with President Trump that a GOP border tax proposal is perhaps too "complicated."

  • A Chevron gas station in San Francisco.

    Chevron reported a second straight quarter of profits, but low oil and gas prices dragged the company to an annual loss.

  • *OPEC- led group aims to cut output by 1.8 million bpd in H1. SINGAPORE, Jan 27- Oil prices firmed on Friday as rising crude output from the United States was offsetting efforts by OPEC and other producers to prop up the market by cutting supplies. "U.S. producer hedging via futures and increasing shale production offset the progress OPEC has made with its production...

  • *OPEC- led group aims to cut output by 1.8 million bpd in H1. SINGAPORE, Jan 27- Oil prices dipped on Friday as rising crude output from the United States was offsetting efforts by OPEC and other producers to prop up the market by cutting supplies. "U.S. producer hedging via futures and increasing shale production offset the progress OPEC has made with its production...

  • WASHINGTON, Jan 3- Big Oil could be in a unique position to protect its interests against a Republican proposal to tax imports, given that President-elect Donald Trump's cabinet is studded with oil champions sensitive to the risk of higher gasoline prices. Trump's emerging leadership includes Exxon Mobil Corp Chief Executive Officer Rex Tillerson as...

  • WASHINGTON, Jan 3- Big Oil could be in a unique position to protect its interests against a Republican proposal to tax imports, given that President-elect Donald Trump's cabinet is studded with oil champions sensitive to the risk of higher gasoline prices. Trump's emerging leadership includes Exxon Mobil Corp Chief Executive Officer Rex Tillerson as...

  • Oil field workers on a rig in Tioga, North Dakota.

    Investors should be overweight integrated oil companies, independent drillers and oilfield services, Evercore's Doug Terreson said.

  • Oil rig afloat on the waters in Alaska

    The Obama administration on Friday blocked the sale of new permits to drill oil and gas in the Chukchi and Beaufort Seas off Alaska.

  • HOUSTON, Oct 28- Exxon Mobil Corp, whose oil field assets are being investigated by the U.S. government, warned on Friday it may need to slash proved reserves on its books by nearly 20 percent if oil prices stay low for the rest of 2016.. The news pushed the company's share price down 2.3 percent to $84.93 in afternoon trading, on an otherwise upbeat day that saw Exxon...

  • Oct 28- Imperial Oil Ltd, Canada's No. 2 integrated oil producer and refiner, reported a better-than-expected quarterly profit as the company's aggressive cost-cutting measures helped cushion the impact of lower oil prices. These include all, or part of oil sands assets at Kearl and Cold Lake in Alberta, Imperial Oil said on Friday. The company's upstream unit...

  • Oct 28- Imperial Oil Ltd, Canada's No.2 integrated oil producer and refiner, reported a better-than-expected quarterly profit as it continued to cut costs in the wake of lower oil prices. The company's upstream unit cash costs averaged less than $20 per barrel year to date, Chief Executive Rich Kruger said on Friday. Imperial Oil, 69.6 percent owned by Exxon Mobil...

  • *Q3 adjusted loss $0.10/ share vs est. loss $0.08/ share. *Cuts 2016 budget to C $2 bln from C $2.1- C $2.3 bln. Husky said it now expects to spend about C $2 billion this year, below its prior forecast of C $2.1 billion to C $2.3 billion.

  • Oct 27- Husky Energy Inc, Canada's No. 3 integrated oil company, reported a bigger-than-expected quarterly loss as weak crude oil prices continued to eat into profits. The Calgary, Alberta- based company said cash flow from operations shrank to C $484 million, in the quarter, from C $674 million a year ago. However, Husky recorded nearly C $1.5 billion in gains related...