Energy Update

You are here

Home » Global Read

UPDATE 1-Caterpillar profit beats as cost-cutting efforts pay off

Jan 28 (Reuters) - Caterpillar Inc's quarterly profit beat estimates as the company cut costs in the face of slumping commodity prices that has hit demand for its construction and mining equipment.

Caterpillar quarterly revenue falls 23 pct

Jan 28 (Reuters) - Caterpillar Inc's quarterly revenue slumped 23 percent as weak commodity prices and slowing economic growth in developing countries hit demand for its products.

European shares fall, hit by weak earnings and banks

* Oil stocks higher as crude steadies above $33 (Adds quotes, detail, recasts)

UPDATE 2-Taiwan president says visit to disputed island was to promote peace

* Aim of visit "to promote peace, bring attention to Taiwan stand" (Adds arbitration case, quotes)

Putin ally absent as Russia considers joint action with OPEC

LONDON/MOSCOW, Jan 28 (Reuters) - When Russian officials this week discussed the merits of jointly cutting oil output with OPEC to push up prices, one man -- President Vladimir Putin's ally Igor Sechin -- was conspicuous in his absence.

UPDATE 1-Oasis Petroleum raises stock to fund lowered capex for 2016

Jan 28 (Reuters) - North Dakota oil producer Oasis Petroleum Inc launched a new stock offering to partly fund its 2016 capital expenditure of $385 million-$435 million, even though its budget is about 30 percent lower than last year.

Oasis Petroleum raises stock to fund lowered capex for 2016

Jan 28 (Reuters) - North Dakota oil producer Oasis Petroleum Inc launched a new stock offering to partly fund its 2016 capital expenditure of $385 million-$435 million, even though its budget is about 30 percent lower than last year.

Rivalries, squabbles hinder Libya's unity government

* Sticking points included size of cabinet, army appointments

Valero Energy's profit falls on lower refining margins

Jan 28 (Reuters) - U.S. refiner Valero Energy Corp reported a 74 percent decline in quarterly profit, hurt partly by lower refining margins.

UPDATE 1-Penn West cuts 2016 capex by 90 pct, sees 30 pct lower output

Jan 28 (Reuters) - Canadian oil and natural gas producer Penn West Petroleum Ltd cut its 2016 capital budget by as much as 90 percent from a year earlier, to weather a steep plunge in crude oil prices.

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