Energy Update

You are here

HOUSTON, Feb 25 (Reuters) - Oil producer EOG Resources Inc posted a fourth-quarter loss on Thursday that beat Wall Street's expectations and cut its capital budget in half as the plunge in crude oil prices has eroded margins across the energy industry.

TORONTO, Feb 25 (Reuters) - Faced with a double whammy of the oil price collapse and a sluggish economy putting pressure on their corporate and consumer loan books, Canada's major banks started to show cracks this week as they posted another round of quarterly profits.

* EDC wants firms to be able to benefit from turnaround (Adds comments from official, background)

LOS ANGELES, Feb 25 (Reuters) - The months-long natural gas leak that forced thousands of Los Angeles residents from their homes ranks as the largest known accidental methane release in U.S. history, equal to the annual greenhouse gas emissions of nearly 600,000 cars, scientists reported on Thursday.

Feb 25 (Reuters) - Oilfield services provider Halliburton Co , pressured by a prolonged slump in crude oil prices, will further slash its workforce by about 8 percent, or by 5,000 jobs, company spokeswoman Emily Mir told Reuters on Thursday.

HELSINKI, Feb 25 (Reuters) - Finnish utility Fortum said on Thursday it would buy a controlling stake in Polish electricity and gas seller Duon following its public tender offer that valued the company at up to 106 million euros ($117 million).

ROME, Feb 25 (Reuters) - Italy is resisting pressure to allow aircraft and armed drones to stage attacks on Islamic State militants in Libya from its territory, saying on Thursday that direct Western military intervention on the ground there was "unthinkable".

* Shares up four percent after sliding at opening (Adds stock reversal, deputy CEO quote, detail on investments, oil and gas sales)

Feb 25 (Reuters) - Elections on Friday for the body that selects Iran's supreme leader could be the last hurrah for Iran's best known political grandee, former president Ayatollah Akbar Hashemi Rafsanjani, who has loomed large in the history of the Islamic Republic.

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.