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Oil and Gas leaders look for cost reduction and efficiency gains

14 hours ago DieselGasoil Comments Off on Oil and Gas leaders look for cost reduction and efficiency gains
5/24/2019 Photo: (right) Ryan Lance, chairman and CEO, ConocoPhillips during the AIPN Summit. HOUSTON — Speaking at the closing of the AIPN 2019 International Petroleum Summit (IPS), Ryan Lance, chairman and CEO of ConocoPhillips spoke about his company’s “hyper focus on returns” highlighting that the “returns the energy industry has generated have been negative over Read More

BP eyes US Gulf frontier exploration after years of focusing on tiebacks: executive

2 days ago DieselGasoil Comments Off on BP eyes US Gulf frontier exploration after years of focusing on tiebacks: executive
Houston — After years of pursuing a strategy of mostly tiebacks in the deepwater Gulf of Mexico during the recent industry downturn, BP said it will also now begin adding frontier exploration, a top US executive for the company has said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Read More

Exclusive: JPMorgan cuts ties with OxyContin maker Purdue Pharma – sources

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(Reuters) – JPMorgan Chase & Co has cut ties with Purdue Pharma LP over the OxyContin maker’s alleged role in the U.S. opioid crisis, forcing it to find a new bank to manage cash and bill payments, people familiar with the matter said on Thursday. FILE PHOTO: Bottles of prescription painkiller OxyContin pills, made by Read More

Wall St. falls as trade anxieties spike

1 week ago DieselGasoil Comments Off on Wall St. falls as trade anxieties spike
NEW YORK (Reuters) – Wall Street ended lower on Friday as continuing trade tensions pulled industrial and tech shares down, and the Dow capped a fourth straight week of losses in its longest weekly losing streak in three years. While all three major U.S. indexes struggled for direction for much of the session, they turned Read More

Wells Fargo and Barclays back fintech company OpenFin

1 week ago DieselGasoil Comments Off on Wells Fargo and Barclays back fintech company OpenFin
NEW YORK (Reuters) – Financial services software startup OpenFin has raised $17 million in a funding round led by Wells Fargo & Co with participation from Barclays, the company said on Thursday. FILE PHOTO: A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Existing investors including JPMorgan Chase Read More

Shale boom belies oil patch pain amid Weatherford bankruptcy

1 week ago DieselGasoil Comments Off on Shale boom belies oil patch pain amid Weatherford bankruptcy
By David Wethe on 5/15/2019 Photo: West Texas Permian Basin (Bloomberg) — Oil prices are back up again and the U.S. has become the world’s largest producer and only three years on from a slump in the market. Yet the pain continues for some companies. The boom in American shale output risks masking ongoing woes Read More

Buffett’s Berkshire unveils $861 million Amazon stake

1 week ago DieselGasoil Comments Off on Buffett’s Berkshire unveils $861 million Amazon stake
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos. FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves, France, Jan. 19, 2019. Read More

Big U.S. hedge funds regain ardor for FAANGs in first quarter: filings

1 week ago DieselGasoil Comments Off on Big U.S. hedge funds regain ardor for FAANGs in first quarter: filings
Facebook, Amazon, Netflix and Google logos are seen in this combination photo from Reuters files. REUTERS/File Photos (Reuters) – Some of the biggest, highest-profile U.S. hedge fund investors fell back in love with FAANGs in the first quarter, according to regulatory filings released on Wednesday. After dumping shares of Facebook Inc, Apple Inc, Amazon.com Inc, Read More

Shawcor Ltd. Announces First Quarter 2019 Results

2 weeks ago DieselGasoil Comments Off on Shawcor Ltd. Announces First Quarter 2019 Results
First quarter 2019 revenue was $350 million, a decrease of 1% from the $354 million reported in the fourth quarter of 2018 and in line with the $351 million reported in the first quarter of 2018. Adjusted EBITDA1 in the first quarter of 2019 was $28 million, which reflects a positive impact from the adoption Read More

Pemex gets record $8 billion loan in bid to reassure investors

2 weeks ago DieselGasoil Comments Off on Pemex gets record $8 billion loan in bid to reassure investors
By Justin Villamil and Cyntia Barrera Diaz on 5/13/2019 Photo: Mexican President Andres Manuel Lopez Obrador. MEXICO CITY (Bloomberg) — Mexico moved to bolster investor confidence in its embattled state oil company, announcing an unprecedented $8 billion syndicated loan along with new tax breaks for the energy producer. Petroleos Mexicanos officials signed the financing agreement Read More