Energy John Watson

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  • On Friday, Exxon Mobil Corp. reported its smallest quarterly profit in nearly 17 years— although it still earned $1.7 billion. The reports from the two biggest U.S. oil companies followed weak second-quarter results from BP and Royal Dutch Shell. U.S. crude rallied from below $30 a barrel in February to above $50 in early June.

  • HOUSTON, July 29- Chevron Corp posted its worst quarterly loss since 2001 on Friday and Exxon Mobil Corp reported a 59 percent slide in quarterly profit, both victims of a prolonged rout in crude prices and sinking income from refining, a sign of the broad malaise across the energy sector. "It's a challenging environment for the integrated" oil producers, said Brian...

  • HOUSTON, July 29- Chevron Corp, the second largest U.S.-based oil producer, posted a second-quarter loss on Friday, its largest since 2001, due to the slump in crude prices and refining income. The company lost $1.47 billion, or $1.07 per share, in the quarter, compared with a net profit of $571 million, or 30 cents per share, in the year-ago period.

  • *Paris climate accord has increased pressure on oil companies. DALLAS/ SAN RAMON, Calif., May 25- Voters at Exxon Mobil Corp's annual meeting on Wednesday approved a measure to let minority shareholders nominate outsiders for seats on the board, meaning a climate activist could eventually become a director at the world's largest publicly traded oil company.

  • HOUSTON, April 29- Oil and gas producer Chevron Corp on Friday posted an adjusted profit that fell short of Wall Street's expectations, as its cost cuts failed to fully offset low crude prices and weak refining margins. John Watson, Chevron's chief executive, said the focus of the San Ramon, California- based company's is boosting cash flow, which dropped more than...

  • "We don't really expect to see below $40 on an extended basis," Jay Johnson, Chevron's head of upstream projects, said on Tuesday in his first interview since assuming the No. 2 role at the company last June. "So few things work in the world below $40 that it's hard to see how you'd maintain the energy supply." Chevron believes it can profitably drill 1,300 Permian wells...

  • NEW YORK March 8- Oil and gas major Chevron Corp will slash its capital budget by as much as 36 percent in 2017 and 2018, a cash-saving bid to preserve its 90- year-old dividend as it copes with crude prices near 10- year lows. The outlook on Tuesday highlights the unease permeating the energy industry as executives try to contend with what many are forecasting to...

  • NEW YORK March 8- Oil and gas major Chevron Corp will slash its budget by as much as 36 percent in 2017 and 2018 in a cash-saving bid to preserve its 90- year-old dividend as it copes with crude prices near 10- year lows. The outlook on Tuesday highlights the unease permeating the energy industry as executives try to contend with what many are forecasting to be crude...

  • NEW YORK March 8- Oil and natural gas producer Chevron Corp said on Tuesday it will slash its budget by at least 17 percent for the next two years to save cash as crude prices sit near 10- year lows. "Industry conditions are tough right now, with low oil and natural gas prices," Chevron Chief Executive Officer John Watson said in a statement ahead of the company's annual...

  • SINGAPORE, March 8- Chevron has started up its massive Gorgon LNG project in Australia and will soon be shipping more of the super-chilled fuel into an oversupplied market, eroding producer revenues but also likely hastening the advent of a liquid Asian spot market. "Homeless LNG accounts for more than a quarter of expected supply through 2025," said Jason Feer...

  • HOUSTON, Feb 24- The world's top oil executives gathered in Houston this week seem to agree on one thing: this year is set to be so horrible that many skip right to 2017 and beyond to talk about hopes for market rebalancing that so far has eluded the battered industry. In April 2015, the energy sector's biggest annual conference was abuzz with speculation when oil...

  • *Britain's BP bets on Egyptian gas, Shell on major acquisition. LONDON/ HOUSTON, Feb 7- As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Britain's BP is betting on offshore gas in Egypt, while Royal Dutch Shell has opted for an alternative route...

  • Fadel Gheit is Oppenheimer, Managing Director and Senior Analyst covering the Oil and Gas sector.

    An analyst says investors should expect dividend cuts after Chevron reported a quarterly loss for the first time since 2002.

  • Workers at an oil facility near Riyadh, Saudi Arabia.

    The blend of macro forces driving commodities lower makes it unlikely the sector will recover for months to come.

  • Chevron CEO John Watson

    John Watson, chairman and CEO of Chevron, discusses at length his views on oil and the energy market.

  • Chevron Chairman and CEO John Watson.

    Oil prices will likely climb in the next year as supply and demand in the market begin to balance, Chevron CEO John Watson said.

  • *Profit ex-items $2.55/ share, misses $2.83 analysts' view. Increasing output from the wellhead is a struggle for many big oil companies, including Exxon Mobil Corp and Royal Dutch Shell.

  • *Profit of $2.55/ share before items miss analysts' view of $2.83. Nov 2- Chevron Corp posted much lower-than-expected quarterly earnings on Friday as maintenance exacerbated a steady decline in oil and natural gas production and as a huge fire at one of the company's California plants hit the refining business.

  • Nov 2- Chevron Corp posted a 33 percent drop in quarterly earnings as maintenance exacerbated a steady decline in output from oil and natural gas wells over the past year and as a huge fire at one of the company's California plants hit the refining business.