International oil majors were burned but also warmed by low oil prices in Q2; and their new projects are moving forward The second quarter has been tough for international oil majors like ExxonMobil (ticker: XOM), Chevron (ticker: CVX) and Royal Dutch Shell (ticker: RDSA), but a silver lining of sorts did present itself. Across all three companies, the reason given
PBF purchases Chalmette Refinery and other assets for $322 million PBF Energy (ticker: PBF) announced today that its subsidiary has signed an agreement to purchase Chalmette Refining, LLC in New Orleans, Louisiana for $322 million plus working capital including inventory to be valued at closing, according to a company press release. The purchase includes the refinery, which has a 189
Damaged pipeline calls for alternative oil transport solution An emergency request made by ExxonMobil (ticker: XOM) to use tanker trucks to haul crude oil following the rupture of an oil pipe carrying its crude from offshore has been denied by officials in California. Santa Barbara County’s Planning and Development director rejected Exxon’s emergency permit application, saying it did not meet
Sources inside the company have confirmed that Rosneft will not be able to move forward in the Arctic for at least a year due to sanctions. State-owned energy giant Rosneft (ticker: RNFTF) will not be able to continue drilling in the Kara Sea in 2015 after Western sanctions halted its cooperation with ExxonMobil (ticker: XOM) in the arctic, two company
Dozens, even hundreds of E&Ps and service providers in the oil and gas industry have recently announced intentions to dial back expenditures in 2015. Supermajors like Shell (NYSE: RDSB) and ExxonMobil (NYSE: XOM), on the other hand, both pledged to reduce expenditures in analyst days in the spring of this year, when WTI and Brent prices were resting comfortably in the $90 to
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