(Reuters) – A surprising $15 billion deal struck by China’s CNOOC Ltd for a Canadian outfit operating in the backyards of the world’s biggest oil companies could provide a key talking point as the majors report what will likely be subdued quarterly earnings.
Sustained production growth has long been elusive for the likes of Exxon Mobil Corp and Royal Dutch Shell Plc. CNOOC’s proposed Nexen Inc takeover at a hefty 61 percent premium, announced earlier on Monday, sets an alarming benchmark for anyone seeking to buy their way into opportunities.
(Reuters) – Halliburton Co (HAL.N: Quote, Profile, Research, Stock Buzz) posted a quarterly profit on Monday that topped Wall Street forecasts, helped by increased activity outside North America, where it expected margins would start recovering by early next year.
Shares of Halliburton, the world’s second-largest oilfield services company behind Schlumberger (SLB.N: Quote, Profile, Research, Stock Buzz), rose 2.5 percent despite a decline in oil prices weighing down the sector .
July 23 (Reuters) – Halliburton Co posted a
quarterly profit on Monday that topped Wall Street forecasts,
helped by increased activity outside North America, where it
expected margins would start recovering by early next year.
Shares of Halliburton, the world’s second-largest oilfield
services company behind Schlumberger, rose 2.5 percent
despite a decline in oil prices weighing down the sector.
July 20 (Reuters) – Occidental Petroleum Corp said
on Friday that Goldman Sachs banker Cynthia Walker would
take over as chief financial officer of the fourth-largest U.S.
oil company next month, just over a year after another former
banker took the reins at Occidental.
Walker, 35, was most recently a managing director at
Goldman, where she worked for 12 years, including as a senior
member of the Global Natural Resources Group in Houston and as
part of the mergers and acquisitions team.
(Reuters) – Schlumberger Ltd (SLB.N: Quote, Profile, Research, Stock Buzz) and Baker Hughes Inc (BHI.N: Quote, Profile, Research, Stock Buzz), the world’s No. 1 and No. 3 oilfield services companies, posted higher-than-expected profits on Friday as revenue piled up outside North America, and Baker’s shares leaped 10 percent.
Investment cycles outside the volatile U.S. and Canadian oilfield markets are generally smoother, and analysts said Schlumberger got a particularly big lift from Europe and Africa.
BAGHDAD/SAN FRANCISCO (Reuters) – Iraq’s prime minister said U.S. President Barack Obama backed Baghdad’s concerns over Exxon Mobil’s (XOM.N: Quote, Profile, Research, Stock Buzz) oil deal with the Kurdistan region and had emphasized Washington’s respect for the Iraqi constitution and laws.
Prime Minister Nuri al-Maliki issued the statement as U.S. oil major Chevron Corp (CVX.N: Quote, Profile, Research, Stock Buzz) confirmed its purchase of 80 percent of two blocks in Kurdistan in a move that may infuriate the central Iraqi government, which wants all oil deals to pass through Baghdad.
(Reuters) – Demand for deepwater rigs is so strong that Noble Corp (NE.N: Quote, Profile, Research, Stock Buzz) and Diamond Offshore Drilling Inc (DO.N: Quote, Profile, Research, Stock Buzz) are already turning their attention to striking deals for 2014.
Both companies reported better-than-expected quarterly profit and confirmed that pricing was improving across their fleets, sending their shares higher on Thursday.
July 19 (Reuters) – Chevron Corp confirmed on
Thursday its purchase of 80 percent of two blocks in Iraq’s
Kurdistan, where the second-largest U.S. oil company sees
“considerable promise” despite active diplomatic disputes over
Chevron, confirming a Reuters report from Wednesday
, will be following in the footsteps of larger
rival Exxon Mobil Corp, whose exploration agreement with
the Kurdistan Regional Government is deemed illegal by Baghdad.
July 18 (Reuters) – Quarterly profits tripled at Noble Corp
, the owner of the world’s third-largest offshore drilling
fleet, as costly downtime decreased and revenue grew with the
debut of new rigs in Brazil and the Gulf of Mexico.
Work off the U.S. Gulf Coast has led to new deals for some
of Noble’s competitors too. On Wednesday, Transocean
said it landed a $595,000-per-day contract for one of its
ultra-deepwater rigs there, while Diamond Offshore Drilling Inc
said it struck a deal for a deepwater unit under
SAN FRANCISCO (Reuters) – New U.S. import tariffs have prompted China’s solar panel makers to buy more expensive supplies elsewhere and avoid the new duties, but prices for the renewable energy equipment continue to decline.
The United States put two new import duties totaling about 35 percent on solar equipment from China, citing the country’s unfair support of its industry and illegal dumping of inventories in the U.S. market.