Energy Update

You are here

Home » Global Read

Croatian oil company INA reports 93 pct slide in first-half net profit

BELGRADE, July 28 (Reuters) - Croatia's biggest oil and gas
company INA, owned by Hungary's MOL and the
Croatian government, reported a 93 percent plunge in first-half
consolidated net profit on Thursday, blaming low oil and gas
prices and shrinking refinery margins.

UPDATE 2-South Africa's largest oil refinery operating, no strike impact

* Workers want better wages in troubled economy

(Recasts with SAPREF comment)

COLUMN-Valero blames excess winter production for U.S. gasoline glut: Kemp

LONDON, July 28 (Reuters) - The accumulation of gasoline
stocks in the United States has been driven by excess gasoline
production rather than lack of demand, according to Valero, the
largest independent refiner in the United States.

UPDATE 1-National Oilwell loss smaller than expected on cost cutting

July 28 (Reuters) - National Oilwell Varco Inc, the
largest U.S. oilfield equipment provider, reported a
smaller-than-expected quarterly loss as cost cutting helped
cushion the impact of a slump in demand from oilfield service
providers.

Baker Hughes posts bigger loss due to impairment charges

July 28 (Reuters) - Oilfield services provider Baker Hughes
Inc reported a bigger quarterly loss, hurt by impairment
and restructuring charges related to writedown of assets, job
cuts and contract terminations.

UPDATE 2-Canadian miner Teck posts surprise profit as costs fall

July 28 (Reuters) - Canadian miner Teck Resources Ltd
reported a surprise quarterly profit as its
costs declined.

WRAPUP 1-Singapore banks' concerns grow about oil and gas sector exposure

* Singapore oilfield services firm Swiber says to liquidate

(Wraps up OCBC and UOB results; adds oil & gas sector exposure
and Swiber announcement)

UPDATE 1-Weir CEO to step down; H1 pretax profit falls 25 pct

July 28 (Reuters) - Pipe and valve maker Weir Group Plc
said Chief Executive Keith Cochrane would step down,
and reported a 25 percent fall in pretax profit as oil and gas
companies cut spending to counter weak commodity prices.

UPDATE 1-Anglo American cuts net debt to $11.7 bln, on track for less than $10 bln

* Says can reduce net debt to less than $10 bln by year-end

(Adds quotes, detail)

European shares slip as Dialog dives while Shell slides

LONDON, July 28 (Reuters) - European shares retreated on
Thursday, weighed down by some weak corporate updates out from
the likes of Dialog Semiconductor and oil major Royal
Dutch Shell.

Pages

GET IN TOUCH

  • 1875 I Street NW, International Square, 
       Washington, District Of Columbia, 20006
  • Phone: +1 (888) 317-3839
  • Email: info@mglllc.com

About

Misha Gerhard & Lewis LLC is International Strategic Consulting Firm with an extensive presence in the most rapidly developing regions of the world.

Photos