Top News & Analysis North Dakota


  • Jan 29- Chevron Corp reported its first quarterly loss in more than 13 years on Friday despite Wall Street's expectations for a profit, as plunging oil prices eroded profitability across all its divisions. The company posted a fourth-quarter net loss of $588 million, or 31 cents per share, compared with a net profit of $3.47 billion, or $1.85 per share, in the...

  • Jan 28- Wells Fargo& Co and Bank of America Corp are working to integrate mobile payment system Apple Pay into their ATMs, technology news website TechCrunch reported. BofA told Reuters it is currently working on a new cardless ATM solution, and plans to unveil it in late February to associates at select ATMs in Silicon Valley, San Francisco, Charlotte, New York and...

  • HOUSTON, Jan 28- Global Partners LP has laid off 8 percent of its work force and aims to handle only ethanol, not crude, at its rail terminal in Oregon in response to the nearly 70 percent plunge in oil prices since mid-2014, the company said on Thursday. Global Partners' stock price fell more than 21 percent to close at $15.38 Thursday on the New York Mercantile...

  • *Says to raise $160 mln from 34 mln share offering. The company said on Thursday it would sell 34 million shares to raise $160 million, excluding underwriter discounts, commissions and estimated offering expenses. At Wednesday's close of $5.32, the offering would have raised $180.9 million, implying a discount.

  • NEW YORK, Jan 28- While airlines are in no rush to pass on fuel savings to passengers brought by the collapse in oil prices, the Houston travel market has left them little choice. Crude's 70- percent drop in the past 19 months has made the Houston travel market a rare point of downward pressure on airline revenues. On average, round-trip business and first class...

  • NEW YORK, Jan 27- Companies that supply drilling rigs, fracking sand and other necessary tools to the U.S. oil industry are finding themselves stuck with a choice between losing customers or making further price cuts that could wipe out their profits altogether. "It goes back to the ultimate issue of which cost deflation has been structural and which has been...

  • The company, which produces oil in North Dakota's Bakken Shale and the U.S. Hess posted a net loss of $1.82 billion, or $6.43 per share, in the fourth quarter ended Dec. 31, compared with a net loss of $8 million, or 3 cents per share, in the year-ago period. Hess stressed that for 2016 it has enough cash to fund both its capital budget and dividend, which will cost about $2.5...

  • HOUSTON, Jan 27- Three major U.S. shale oil companies have slashed their 2016 capital spending plans more than expected in a bid to survive $30 a barrel oil prices, with one of them saying prices would need to rise more than 20 percent just to turn a profit. The cuts on Monday from Hess Corp, Continental Resources and Noble Energy ranged from 40 percent to 66 percent.

  • HOUSTON, Jan 26- County planners want to squash Phillips 66' s proposal to transport heavy crude by rail to one of its California refineries, saying it is too risky to public health and the environment. The Benicia Planning Commission will hold a similar hearing Feb. 8, with more if necessary, on Valero Energy Corp's proposed 70,000 bpd rail project- also delayed...

  • Worries about slow growth and debt in China, as well as slowing global trade, have hit global financial markets hard, sending U.S. stocks to their worst January ever, down 7 percent. Futures prices now indicate a 70 percent chance that the Fed either keeps rates unchanged or hikes by 25 basis points once this year, according to data from CME Group, an outcome given less...

  • The price of oil is shown downtown on Jan. 21, 2016, in the oil town of Midland, Texas.

    Lower crude prices are helping lift much of the U.S. economy, but oil-producing regions are getting clobbered.

  • Some states dependent on energy revenues are facing strained budgets due to low oil prices, according to an S&P report.

  • A still from a Boot Barn commercial. Boot sales reported soft third quarter sales thanks to pressures in oil and commodity-related markets.

    Boot Barn says sales during its recently ended quarter were hurt by weakness in regions where the local economy depends on oil.

  • Chevron production

    The projected declines in 2016 non-OPEC crude production will come from shale drillers, not oil majors, analysts tell CNBC.

  • A floor hand helps line up a pipe while drilling for oil in the Bakken shale formation near Watford City, North Dakota.

    A number of drillers saw their stock rise on Tuesday despite oil prices hitting their lowest levels since 2009.

  • Workers on Endeavor Energy Resources LP's Big Dog Drilling Rig 22 in the Permian basin outside of Midland, Texas.

    U.S. oil producers proved remarkably resilient in the face of an OPEC policy aimed squarely at curtailing American output.

  • A new winter storm was plowing toward the Plains and the Great Lakes, threatening to pile as much as a foot of new snow Monday.

  • Mitch McConnell

    Many senators who voted this week to block EPA coal rules received healthy campaign donations from coal industry interest groups.

  • After steadily rising on the back of America's shale revolution, wage growth for exploration and production professionals has essentially gone flat.

  • A pro-Euro protester holds a European Union and a Greek national flag during a rally in front of the parliament building in Athens, Greece, July 9, 2015.

    If the EU were a fiscal union like the U.S., then what state would Greece be most like? Which of us take more from the government than they give back?