Sentences with phrase «us oil majors»

U.S. oil major Chevron Corp has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state - owned oil company PDVSA, according to four sources familiar with the matter.

«I am tasked,» says the oil major's top futurist about the existential challenge ahead, «with making sure that Shell isn't a dodo.»

«I am tasked,» says the oil major's top futurist about the existential challenge ahead, «with making sure that shell isn't a dodo.»

The Anglo - Dutch oil major, whose acquisition of BG Group transformed it into the world's top liquefied natural gas producer, has been under pressure from shareholders to cut annual spending to ensure it can maintain its dividend given the slow recovery in the oil prices.

The problem is that the right path forward for the oil majors is less clear than ever before.

Shell's Chief Executive Officer Ben van Beurden said the oil sector had yet to emerge from troubled waters, but huge cost savings meant oil majors were getting closer to balancing their operations at today's oil prices of around $ 50 a barrel.

Oil major Royal Dutch Shell posted fourth - quarter earnings of $ 1.0 billion, compared with $ 1.8 billion for the same quarter a year ago.

«According to the most recent assessment, the steady oil price recovery since summer 2017 and renewed interest in growth opportunities has led to oil majors catching up in terms of exploration activity this year, both in the shale industry and offshore deep water,» OPEC said.

«So every year this company spits out a lot more free cash flow than your typical oil major,» Kirby says.

Oil majors and large independent drillers need to shore up their asset portfolios after several years of underinvestment during a price slump, analysts say.

If the oil majors were to attempt to be more disciplined this time around, the resulting rise in prices would simply accelerate the development of alternative sources of supply, as well as curbing demand growth.

In 2017, the California cities of San Francisco, Oakland, Santa Cruz, and Imperial Beach, as well as Santa Cruz county, Marin County, and San Mateo County attempted to sue oil majors over climate change damages, citing a theory called «public nuisance.»

OPEC and the oil majors may exercise some influence over oil prices in the very short term, but in the medium run they have proved to be price - takers, not price - makers.

U.S. oil major Chevron Corp has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state - owned oil company PDVSA.

Rive argues that it should stay underground, that the oil majors look at the world through petroleum - coated lenses, and that the benefits of solar are so obvious that once the price becomes more competitive, fossil - fuel use will plunge.

LONDON, May 3 - Libya's National Oil Corp is withholding Total's share of crude from the Waha concession as a dispute drags on over the French oil major's purchase of Marathon's stake in the concession two months ago, Libyan oil and industry sources said.

LONDON, May 3 (Reuters)- Libya's National Oil Corp (NOC) is withholding Total's share of crude from the Waha concession as a dispute drags on over the French oil major's purchase of Marathon's stake in the concession two months ago, Libyan oil and industry sources said.

The oil major currently trades at a fraction of its net asset value, thanks mostly to the black eye it took from the massive oil spill in the Gulf of Mexico last year.

The remaining oil majors — ExxonMobil (XOM), Total, Chevron (CVX), Shell (RDSA) and BP (BP)-- as well has the smaller integrated oil companies, like Hess, will undoubtedly be watching COP (COP) intently as it begins its dismemberment.

China «s top state oil major Sinopec, Bank Of China, and China Investment Corp agreed to help develop Alaska's liquefied natural gas sector.

The oil majors always shoot themselves in the foot by laying off hundreds if not thousands of people In leaner times.

The region's growing receptiveness to foreign investment in its energy assets could be a dream come true for oil majors.

LONDON Royal Dutch Shell reported on Thursday a 42 percent rise in first - quarter profit to its highest in more than three years on stronger oil prices and production, but its shares fell as the oil major's cash flow missed forecasts.

1) China's emergence as a dominant player in the low - carbon market, 2) global oil majors» shift to renewable energy, 3) big corporate brands moving to 100 % renewable power, 4) the rise of electric vehicles and expiration dates for gas - fuelled cars, and 5) energy getting smarter through digitization.

The pollution judgment against Chevron issued in 2011 based on 105 technical evidentiary reports showing the oil major dumped billions of gallons of cancer - causing oil waste onto Indigenous ancestral lands.

Two are: the SPDR Energy Select (XLE) for exposure to US oil majors, many with international operations; and the iShares TSX Energy (XEG) for exposure to Canadian oil producers.

The acquisition is part of a plan to create an oil major that was first outlined by Finance Minister Arun Jaitley while presenting the federal budget in February last year.

With the oil majors all trading at fair and undervalued prices due to the decline in oil prices I was able to both increase the yield of my portfolio while also getting great companies at a fair price.

Groups including Dutch telecommunications group Altice, US conglomerates Honeywell and General Electric, UK oil major BP and French luxury group Kering are considering setting up independent companies for some of their activities as a way to generate value for shareholders.

The first quarter of 2018 was the best one in years for the oil majors.

- Chevron (NYSE: CVX) said it would invest $ 4 billion in the Permian Basin in 2018, and the oil major has plans to ramp up production from the shale basin to over 400,000 bpd over the next few years.

Chevron (CVX)- My original cost basis for the oil major was around $ 120 a share and it is currently trading below that at $ 117.

BP Plc is weighing an acquisition of some of BHP Billiton Ltd.'s energy assets as the British oil major seeks more U.S. shale, according to people familiar with the matter.

A couple of weeks ago, two analysts told CNBC that now could be a good time to invest in oil majors» shares.

Still, the international oil majors have committed billions to energy exploration in Mexican territorial waters of the Gulf of Mexico.

Premiums in these kinds of megadeals would likely be small though since the purchase price on an integrated oil major is so large.

And over the last three years, Total has slowly but surely closed the gap on rival oil major Esso (from 10 points behind in March 2009 to effectively level now).

It also was the only U.S. oil major to do more than dabble in energy not derived from fossil fuels.

Deals also take place between Chinese majors and independent domestic refiners, and between foreign oil majors and global trading houses.

CEFC said on Sept. 8 it had agreed to buy a 14 percent stake in Russian oil major Rosneft for $ 9 billion from commodity trader Glencore and the Qatar Investment Authority.

The UK oil major has picked ex-Statoil CEO Helge Lund to replace Carl - Henric Svanberg.

In 2016, the Organization of Petroleum Exporting Countries, headed by Oil Major Saudi Arabia, made an agreement between its members and a number of non-member countries to cut their oil production and reduce the global glut that had pushed prices so low.

That approach is a contrast to some of the other oil majors.

The UK oil major left its annual dividend unchanged at $ 0.40 and announced operating cash flow of $ 24.1 billion, compared with $ 17.6 billion in 2016.

All those performance numbers are on par with Exxon Mobil Corp. (NYSE: XOM) and other integrated oil majors.

** Russian oil major Rosneft is seeking a stake in Azerbaijan's Absheron gas project, sources close to the talks said, in the latest move that may help it become a competitor of Russia's gas exporter Gazprom.

Through the hustle and bustle of OPEC's meeting in Vienna on Wednesday, Iranian Oil Minister Bijan Namdar Zangeneh sent out an invite to oil majors across the globe.

Abu Dhabi's state - owned oil company on Monday announced plans to publicly list parts of its business and seek new partnerships with oil majors.

Deepening its relationship with the Texas - based oil major would tie the Arab state more closely to the U.S. after recent tensions with Saudi Arabia.

While oil majors are already cutting back on exploration activities in Nigeria, the decision by Shell indicated that keeping a large part of its oil and gas reserves in the ground would be risky.