Oil has risen to roughly $40 a barrel after plummeting in April. With prices holding steady, big oil companies are likely to pounce on smaller ones.
Will there be other deals like it?
With the U.S.-based oil giants Chevron Corp. and Exxon Mobil Corp. scheduled to release their first quarter 2018 earnings Friday morning, we look at the state of the oil industry. Companies are reaping the benefits from higher oil prices and demand. But what is big oil investing in these days, with an eye toward the future? Click […]
Prices for West Texas crude oil are hovering around $65 a barrel. That’s more than twice the price at this time just two years ago. Oil companies, including major players like Exxon Mobil and Chevron, have let investors know they’re increasing production, specifically in Texas’ Permian Basin, where output has tripled in the past three years. […]
Exxon and Chevron report earnings today. Yesterday ConocoPhillips reported income that beat analysts’ estimates. Earlier in the week oil services firm Halliburton delivered strong earnings, with revenue up 10 percent. The earnings indicate the energy industry is in a minor rebound — after years of slump. Click the audio player above to hear the full […]
Chevron CEO John Watson is likely to step down soon, the Wall Street Journal reported this week. If there is a switch up at Chevron, it’s not because of losses. Chevron continues to outperform competitors in a turbulent time. A new CEO would likely keep focused on refining. Click the audio player above to hear the […]
ExxonMobil faces a shareholder resolution at its annual meeting
A study says investors care more about climate change than corporate managers.
ExxonMobil saw it's lowest quarterly profits since 1999 while Chevron had a quarterly net loss of $725 million.