BOE Report Canada’s proposal to tax corporate stock buybacks is unlikely to deter oil and gas companies from returning cash to shareholders and may instead put them at a competitive disadvantage, industry officials and analysts said. Canadian energy companies have been the most active in buying back shares of any sector during the past year, according to CIBC, and
World Oil Global digital services leader Asset Information Services (AIS), a James Fisher company, announced on Monday its business development and account management expansion plans, which includes new hires in key global regions for its rapidly growing customer base. In 2022, AIS is expanding its international team, putting boots on the ground in Indonesia, UAE, Nigeria, and Mexico through the
Reuters BERLIN – The German government expects the energy sector to play the biggest role in reducing carbon emissions by 2030, according to a draft of the reform to its climate protection law seen by Reuters on Thursday. The draft law, which is due to be passed by the cabinet next Wednesday, requires the energy sector to cut C02 emissions
Reuters DUBAI – Oil giant Saudi Aramco and energy services company Baker Hughes have formed a 50/50 joint venture, Novel, to develop a broad range of non-metallic products for multiple applications in the energy sector. Novel’s new plant is being constructed at Saudi Arabia’s King Salman Energy Park (SPARK), a 50 sq km energy city aimed at making the kingdom
Reuters BOSTON – Billionaire investor Carl Icahn said on Thursday the energy sector will bounce back one day but shareholders need to be very patient and he is not urging people to buy. Icahn, with stakes in CVR Energy, Cheniere Energy and Occidental Petroleum, said the key to making money is to buy when companies are out of favor.
By Tyler Losier, Energy Reporter, Oil & Gas 360 Enerflex names Sanjay Bishnoi as senior vice president and CFO, David Izett as senior vice president and general counsel Enerflex Ltd. (stock ticker: ENRFF), a Calgary-based oilfield service company, has appointed Sanjay Bishnoi as senior vice president and chief financial officer, and David H. Izett as senior vice president and general
From The Houston Chronicle The U.S. energy sector broke another record last year as the shale boom sent natural gas and petroleum production soaring. U.S. petroleum and natural gas production jumped by 16 percent and by 12 percent respectively in 2018, setting new production records, according to a new report from the U.S. Energy Department. The U.S. surpassed Saudi Arabia
From The Houston Chronicle After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019. The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and the aggregate debt from 2019 bankruptcy filings of almost $20 billion has already surpassed the roughly $17 billion from a
By Tyler Losier, Energy Reporter, Oil & Gas 360 Christopher J. Baker named president and CEO of Quintana Energy Services Quintana Energy Services (stock ticker: QES), an onshore oilfield services company operating across the United States, has named Christopher J. Baker as its president and chief executive officer, effective immediately. Baker will replace former CEO Rogers Herndon, who has resigned
From Reuters Exxon Mobil Corp (XOM.N) is pushing deeper into energy trading, building a global cadre of experienced traders and beefing up risk-management systems to lift profit, according to executive recruiters and people familiar with the business. The development is a sea change for a company that has stood out from rivals by limiting its past activity out of concern
Baker McKenzie/Oxford Economics report expects a short global energy M&A turnaround that peaks in 2018 More oil price stability and significant internal restructuring of the sector are the key drivers leading a recovery in energy M&A with a peak in 2018, according to a new forecast by Baker McKenzie. The firm’s Global Transactions Report, in association with Oxford Economics, predicts a
NDP’s historic win puts an end to four decades of PC majority in Alberta, uncertainty spooks energy stocks The New Democrat Party (NDP) will take control in Alberta, raising concerns in the local energy sector about the future business environment. The NDP majority government’s surprise win in yesterday’s election puts an end to 44 years of Progressive Conservative (PC) majority
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