oil

Oil Prices Plunge 7% to One Year Low

Oil Prices Plunge 7% to One Year Low

Oil prices plunged by 7% on Friday, falling to its lowest levels in over a year. Oil price concerns have caused the stock market to decline heavily into bear territory over the recent months.Friday’s decline was pressured by OPEC’s antic..

Exxon Mobil Reported Third Quarter Earnings

Exxon Mobil Reported Third Quarter Earnings

Exxon Mobil Corp. (NYSE: XOM) on Friday reported third-quarter earnings and revenue that beat analysts’ expectations on higher prices received for its oil and natural gas and improved performance in its drilling operations and fuel refining se..

BP Reports Third-Quarter Earnings

BP Reports Third-Quarter Earnings

BP Plc. (NYSE: BP) reported on Tuesday that profit more than doubled in the third quarter, as strong oil prices put the Company on track to deliver record results this year.The British oil giant posted first-quarter underlying replacement cost profi..

BP Works to Resume Oil Exploration in Libya

BP Works to Resume Oil Exploration in Libya

Yesterday, BP plc (NYSE: BP) Chief Executive, Bob Dudley, Chairman Eng. Mustafa of the National Oil Corporation (NOC) of Libya and, CEO of Eni (NYSE: E), Claudio Descalzi, signed a letter of intent involving the exploration and production sharing ag..

Energy Stock Bounce Back

Energy Stock Bounce Back

Energy stocks are experiencing a rebound as oil prices continue to rise. Brent Crude prices which have seen a dramatic fall from the record highs of 2014 are now nearing USD 70 per barrel.  Brent Crude went through a massive downturn betwe..

BP to acquire BHP's US shale assets for $10.5 bln

BP to acquire BHP's US shale assets for $10.5 bln

BP p.l.c. (NYSE:BP) announced Friday it would buy several US oil and shale assets from mining firm BHP Billiton Ltd. (NYSE:BBL) for USD 10.5 billion.The deal is the largest by BP in two decades and its first significant investment in the United Stat..

BP reported strong Q1 earnings but higher debt

BP reported strong Q1 earnings but higher debt

BP p.l.c. (NYSE: BP) reported strong first-quarter 2018 earnings, mainly driven by the recovering oil prices from nearly four years back. Record oil and gas production along with increased refinery throughput also boosted earnings.Another European e..