SAN FRANCISCO, Oct 29 (Reuters) – Fluor Corp (FLR.N: Quote, Profile, Research, Stock Buzz) gave
its second profit warning this month, after a judge ruled its
joint venture did not have priority over senior lenders in its
claim against a bankrupt California toll road operator.

Fluor shares fell nearly 2 percent as the largest publicly
traded U.S. engineering company was forced to bring down its
2010 profit outlook by between 12 percent and 14 percent.

NEW YORK/SAN FRANCISCO (Reuters) – Chevron Corp (CVX.N: Quote, Profile, Research, Stock Buzz) posted weaker-than-expected quarterly profit, hurt by lower production and higher expenses in the United States as well as a decline in the value of the dollar.

The disappointing profits from the second-largest U.S. oil company on Friday followed strong performances from larger rivals this week, and Chevron shares fell 1.5 percent.

SAN FRANCISCO, Oct 26 (Reuters) – National Oilwell Varco
Inc (NOV.N: Quote, Profile, Research, Stock Buzz), the largest U.S. oilfield equipment supplier,
posted better-than-expected quarterly profit on buoyant North
American shale drilling, sending its shares up more than 8
percent.

The company sees plenty of opportunities to expand through
acquisition, as it closes a recent $500 million deal, and
believes a long-anticipated flurry of rig equipment contracts
out of Brazil will be signed in the months ahead.

NEW YORK/SAN FRANCISCO (Reuters) – Foster Wheeler AG’s (FWLT.O: Quote, Profile, Research, Stock Buzz) chief executive has left less than five months after taking over, prompting concerns over management succession and strategy that shaved nearly 5 percent off shares of the engineering company.

The sudden departure of Robert Flexon, 51, adds yet another twist to the drawn-out retirement plans of Raymond Milchovich, the chairman and former CEO who revived Foster Wheeler after it made annual losses for the first half of this decade.

NEW YORK/SAN FRANCISCO, Oct 22 (Reuters) – Schlumberger Ltd
(SLB.N: Quote, Profile, Research, Stock Buzz) posted higher quarterly profits on Friday on strength in
U.S. and Canadian land drilling, and the company sees better
profits elsewhere in 2011.

The world’s largest oilfield services company’s shares rose 5
percent, after having underperformed the sector this year due to
previous profit disappointments.

SAN FRANCISCO (Reuters) – Some leading offshore drilling contractors, after reporting declines in quarterly profits, said on Thursday there were encouraging signs for activity in the Gulf of Mexico next year despite a shortage of permits.

Noble Corp, the second-largest offshore drilling contractor by fleet size, said it was even possible one of its deepwater rigs could get back to work in the U.S. Gulf by the end of this year.

SAN FRANCISCO (Reuters) – Noble Corp (NE.N: Quote, Profile, Research, Stock Buzz), the second-largest offshore drilling contractor by number of rigs, reported an 80 percent drop in quarterly profit as the Gulf of Mexico moratorium sidelined much of its deepwater fleet.

Six months to the day after the BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) blowout that prompted a deepwater drilling halt, Noble said on Wednesday its third-quarter net profit fell to $86 million, or 34 cents per share, from $426 million, or $1.63 a share, in the same quarter a year before. Revenue fell 32 percent to $613 million.

NEW YORK/SAN FRANCISCO, Oct 19 (Reuters) – Occidental
Petroleum Corp (OXY.N: Quote, Profile, Research, Stock Buzz) posted 28 percent profit growth, but its
stock fell 6 percent as oil prices slid on Tuesday and Oxy
tweaked its near-term strategy due to weak natural gas prices.

The fourth-largest U.S. oil company said on Tuesday it had
suffered from permitting delays for some of its California
properties, while its Elk Hills natural gas processing
facilities in the state were still having problems.

NEW YORK/SAN FRANCISCO (Reuters) – Fluor Corp (FLR.N: Quote, Profile, Research, Stock Buzz), the largest publicly traded U.S. engineering company, said on Monday it will take a $163 million third-quarter charge due to a delay on a wind project, sending its shares down more than 5 percent.

Chief Executive Alan Boeckmann had warned last month of a dispute with the wind farm’s owner, Scottish & Southern Energy Plc (SSE.L: Quote, Profile, Research, Stock Buzz), over welding quality, though he believed Fluor would “come out on the right side of that award.”

NEW YORK/SAN FRANCISCO, Oct 18 (Reuters) – Fluor Corp
(FLR.N: Quote, Profile, Research, Stock Buzz), the largest publicly traded U.S. engineering company,
said on Monday it will take a $163 million third-quarter charge
due to a delay on a wind project, sending its shares down more
than 5 percent.

Chief Executive Alan Boeckmann had warned last month of a
dispute with the wind farm’s owner, Scottish & Southern Energy
Plc (SSE.L: Quote, Profile, Research, Stock Buzz), over welding quality, though he believed Fluor
would “come out on the right side of that award.”