Occidental Petroleum Earnings Show the Difference a Year Makes with Oil Prices Up 85%

Occidental Petroleum reported better than expected fourth quarter earnings on Thursday from a year-ago loss on higher-than-forecast U.S. production and crude prices. $OXY is the biggest Permian Basin producer. ExxonMobil, Chevron and Diamondback reported earlier. Beyond The Survival Mode In The Oil Patch Guidance on exploration and production spending is key since oil prices collapsed and natural gas prices have continued to soar. Now with the change in shift in US politics and the COVID affect with the recent Russian attack … Continue reading “Occidental Petroleum Earnings Show the Difference a Year Makes with Oil Prices Up 85%”

Most Texas Refineries Have Restarted Since Big Freeze

The big freeze from the arctic blast knocked out more than 18 of the Texas refineries just a month ago. For these refineries it has been a battle to repair and restart. 16 of those 18 plants shut by freeze have started some or all units. In that time demand has risen and already some are able to run at full rates on better margins.

S&P Puts Big Oil Companies On Negative Ratings Watch

Rating agancy S&P on Tuesday puts the majority major oil companies on negative ratings watch or lowered their outlook. Many of the energy sector has massive debt exposure which has exposed them to the lockdown economic collapse. To add salt we are seeing aggressive energy transition by the developed world.

Occidental Petroleum Posts Loss of $8.35 Billion in Second Quarter on Slashed EnergyPrices

Occidental Petroleum reported for the second quarter on Monday a loss of $8.13 billion including impairment charges of $6.6 billion.  $OXY is the biggest Permian Basin producer is living on a knife edge. ExxonMobil , Chevron and Diamondback reported a much sounder position. Survival Mode In The Oil Patch Guidance on exploration and production spending is key since oil prices collapsed and natural gas prices have continued to fall, with U.S. drilling and production still at high levels despite the … Continue reading “Occidental Petroleum Posts Loss of $8.35 Billion in Second Quarter on Slashed EnergyPrices”

Occidental Petroleum in Survival Mode Reduces Capital, Operating and Overhead Costs Drastically

Occidental Petroleum reported a lower loss than expected Q1 loss Tuesday, However $OXY. as the biggest Permian Basin producer after the $38 billion Anadarko aquisition is living on a knife edge with the oil price collapse. ExxonMobil , Chevron and Diamondback reported a much sounder position.

Occidental Petroleum Increase Earnings and Production But Impacted By Lower Gas Prices

Occidental Petroleum reported better than expected Q2 earnings Wednesday $OXY will become the biggest Permian Basin producer after Anadarko shareholders vote Aug. 8 on the $38 billion sale. ExxonMobil and Chevron report Friday

Big Oil Earnings From Exxon, Chevron, Shell, Conoco, Total and Eni

Big earnings for big oil companies this week. Royal Dutch Shell, ExxonMobil, Eni, Total, Chevron and ConocoPhillps all report second quarter earnings. With oil seeing a WTI $75 high positive news is expected for $RDS.A, $XOM $COP $ENI $TOT and $CVX