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US Oil Giant SLB Reportedly Bolsters Presence In Russia As Western Rivals Exit Market Amid War With Ukraine
Friday, August 16, 2024 - 5:46am | 573One of the world’s leading oilfield services companies Schlumberger NV (NYSE:SLB), better known as SLB, is reportedly expanding its operations in Russia. This comes at a time when its major Western rivals are exiting the market due to Moscow’s aggressive invasion of Ukraine. What...
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Oil Stocks Surge As Crude Prices Jump 3.4%; Energy Market Flashes Positive Signals
Wednesday, May 17, 2023 - 3:45pm | 555U.S. oil company stocks are rallying in Wednesday's session, with the Energy Select Sector SPDR Fund (ARCA: XLE) up 2%, fueled by a 3.4% increase in WTI crude oil prices as a result of a confluence of positive headlines over the past few weeks. On Monday, the U.S. Department of Energy announced...
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Tesla Fame's Robot-Run ETF Is Now Betting Big On These Oil Stocks
Thursday, November 17, 2022 - 10:40am | 457The Qraft AI-Enhanced U.S. Large Cap Momentum ETF (NYSE: AMOM) has bet on Exxon Mobil Corp (NYSE: XOM) and Chevron Corporation (NYSE: CVX) during November, both fresh additions to the fund’s portfolio. The ETF, actively managed by artificial intelligence, seeks to invest in U.S. large-...
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Biden Warns Big Oil Over 'Outrageous' Profits: 'If They Don't Pass It, They're Going To Pay...'
Tuesday, November 1, 2022 - 3:22am | 419President Joe Biden on Monday lambasted energy companies, saying that they had a responsibility to act beyond the interests of their executives and shareholders with the "historic" profits made from the recent surge in oil prices. What Happened: Biden said oil...
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This Oil Giant Is Partnering With An Electric Vehicle Charging Company
Monday, April 18, 2022 - 10:24am | 653A new partnership between a leading oil company and an electric vehicle charging infrastructure company was announced Monday. Here are the details of the deal and what it means for diversification in the space. What Happened: Oil company BP PLC (NYSE: BP) announced a multi-year contract with...
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Gas To Bitcoin? Inside Exxon Mobil's Pilot Program To Power Cryptocurrency Mining
Thursday, March 24, 2022 - 5:32pm | 438The leading oil producer in the U.S. is exploring using excess natural gas for cryptocurrency mining. Here’s the latest. What Happened: A pilot program was launched by Exxon Mobil Corp (NYSE: XOM) in January 2021. The company is running it in North Dakota using excess natural gas to...
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An Oil Services Pair Trade From Piper Jaffray
Tuesday, April 3, 2018 - 4:19pm | 469A bullish case can now be made for Baker Hughes A GE Co (NYSE: BHGE), while the bullish case for Weatherford International plc (NYSE: WFT) no longer applies, according to PiperJaffray. The Analyst PiperJaffray's Bill Herbert upgraded Baker Hughes' stock from Neutral to...
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Rex Tillerson's Personal Portfolio Includes Stakes In Exxon, Oil Rivals And Apple
Thursday, January 5, 2017 - 9:43am | 435Rex Tillerson, the former CEO of oil giant Exxon Mobil Corporation (NYSE: XOM) and President-elect Donald Trump's pick for secretary of state, is worth as much as $400 million, according to a Bloomberg report citing a public disclosure filed with the U.S. Office of Government Ethics on Wednesday....
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4 Takeaways From Barclays' Oil Stock Coverage
Wednesday, August 3, 2016 - 8:13am | 585Oil stocks are more under the spotlight than they have been in months given oil prices trading below $40 a barrel and an overall underwhelming earnings performance. Paul Cheng of Barclays was active this week updating his view and outlook for many names in the oil sector. Chevron Offers A...
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The Future Of Big Oil Isn't Necessarily Oil
Wednesday, July 20, 2016 - 10:51am | 361Royal Dutch Shell plc (ADR) (NYSE: RDS-A) is an oil company, right? If you ask the company's CEO Ben van Beurden this question the answer is a straight up no. According to a report by Bloomberg, Shell's CEO said the company that he oversees is more of a gas company than oil company. Near Australia'...
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Marathon Oil Cites 'Lower Risk, Higher Return' In Wyoming Asset Sale
Tuesday, April 12, 2016 - 7:36am | 232Marathon Oil Corporation (NYSE: MRO) announced after Monday's market close it has signed agreements for the sale of some of its non-core assets. Marathon Oil said it will divest all of its Wyoming upstream and midstream assets for $870 million. The upstream properties averaged 16,500...
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Marathon Oil Loses 5%, Company Announces Offering Of 135 Million Shares
Tuesday, March 1, 2016 - 9:21am | 118Shares of Marathon Oil Corporation (NYSE: MRO) were trading lower by more than 5 percent early Tuesday morning after the company announced a public offering of 145 million shares of its stock. Marathon Oil said after Monday's market close that it will offer 145 million shares of its common stock at...
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Occidental Petroleum CEO Says Crude Downturn Has 3-Year Lifespan, Industry Is Halfway Through Current Cycle
Tuesday, February 23, 2016 - 11:37am | 238According to Reuters, Occidental Petroleum Corporation (NYSE: OXY)'s CEO issued some cautious commentary over the crude oil sector. Stephen Chazen, Occident's CEO spoke at an industry conference on Monday. The executive's comments focused on companies that that borrowed heavily when...
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Cabot Oil & Gas Reports 38 Million Share Offering, Stock Loses 5%
Tuesday, February 23, 2016 - 8:52am | 135Shares of Cabot Oil & Gas Corporation (NYSE: COG) were trading lower by more than 5 percent early Tuesday morning after the company announced a public offering of its common stock. Cabot Oil & Gas reported after Monday's market close that it has priced an upsized public offering of 44...
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Report: Halliburton Plans On Selling Baker Hughes' Offshore Fluids Unit
Tuesday, February 9, 2016 - 3:18pm | 159According to Bloomberg, Halliburton Company (NYSE: HAL) plans on selling Baker Hughes Incorporated (NYSE: BHI)'s offshore drilling and completions fluids division and the bulk of its completion systems to appease antitrust regulators who have yet to sign off on the $35 billion mega merger....