BLOG.JMHAMILTONPUBLISHING.COM: Category Archive for Big Oil

But opposition is significant, particularly in Europe, from groups concerned about the risks of water contamination, earth tremors or the release of greenhouse gases.

Posted by J.M. Hamilton Blog at 5/30/2012 12:45 PM | Add Comment

That would do little to further Repsol’s case but it underscores European leaders’ frustration with what are seen as Argentina’s increasingly protectionist and nationalist policies.

Posted by J.M. Hamilton Blog at 5/30/2012 9:00 AM | Add Comment

U.S. Gasoline Prices May Fall; Stocks Drop

Posted by J.M. Hamilton Blog at 5/29/2012 2:31 PM | Add Comment

But the company stuck to its position that it will name an independent chairman before considering Mr. Icahn's request for representation on the board.

Posted by J.M. Hamilton Blog at 5/29/2012 12:14 PM | Add Comment

"It's a commodity-based business and the price of the commodity is down," said Mr. Cornett

Posted by J.M. Hamilton Blog at 5/29/2012 12:00 PM | Add Comment

"Just as we worked with the government in responding to the spill, we are cooperating with its investigation," said BP spokesman Geoff Morrell in a statement last week.

Posted by J.M. Hamilton Blog at 5/29/2012 6:30 AM | Add Comment

"Power lies where oil lies," wrote columnist Dmitry Butrin in the daily Kommersant.

Posted by J.M. Hamilton Blog at 5/27/2012 3:30 PM | Add Comment

The drop in the euro against the dollar and the drama in the euro zone have pulled crude off highs, but the IAEA finding high uranium traces in Iran may help keep crude prices supported

Posted by J.M. Hamilton Blog at 5/27/2012 2:29 PM | Add Comment

“It was taboo to raise questions about the spent fuel that was piling up,” said Hideo Kimura

Posted by J.M. Hamilton Blog at 5/27/2012 12:15 PM | Add Comment

BDI and Crude

Posted by J.M. Hamilton Blog at 5/27/2012 10:00 AM | Add Comment

“People talk about this wonderful dividend, but measured against history, gasoline still represents a considerable slice of consumer disposable income.”

Posted by J.M. Hamilton Blog at 5/25/2012 12:30 PM | Add Comment

It’s no surprise that as of May 21 investors had knocked the company’s shares down more than 35 percent since the end of March.

Posted by J.M. Hamilton Blog at 5/24/2012 6:29 PM | Add Comment

Geologists with Royal Dutch Shell first cracked rocks in Alaska looking for gold and oil nearly a century ago.

Posted by J.M. Hamilton Blog at 5/24/2012 3:00 PM | Add Comment

"We feel the time is perfect to enter the deep-water Gulf of Mexico," he said. "With the improved safety procedures and ramp-up in activity the timing is great."

Posted by J.M. Hamilton Blog at 5/24/2012 5:29 AM | Add Comment

Even that new level is more than the $289,000 each of ExxonMobil's nonexecutives got paid on average last year.

Posted by J.M. Hamilton Blog at 5/21/2012 2:30 PM | Add Comment

Royal Dutch Shell, he says, is the "Exxon of Europe, but it's a good deal cheaper."

Posted by J.M. Hamilton Blog at 5/20/2012 3:00 PM | Add Comment

Oil prices might go as high as $160 per barrel if the European Union goes ahead with a July 1 embargo, Hosseini told CNN’s “Fareed Zakaria GPS” in an interview scheduled to air tomorrow.

Posted by J.M. Hamilton Blog at 5/20/2012 1:15 PM | Add Comment

Reluctant to slash production, which can do permanent harm to the oil fields, Iranian officials are storing the excess in a growing armada of supertankers that are anchored in the vicinity of the country’s main oil terminals

Posted by J.M. Hamilton Blog at 5/18/2012 5:00 PM | Add Comment

Breakingviews: Exxon gets the jitters

Posted by J.M. Hamilton Blog at 5/18/2012 12:46 PM | Add Comment

Crude inventories at Cushing, Oklahoma, the delivery point for contracts traded on the New York Mercantile Exchange, rose 2.8 million barrels last week to a record 46.9 million barrels

Posted by J.M. Hamilton Blog at 5/16/2012 4:29 PM | Add Comment

"The loan has a blanket protection against future secured debt," Diaz-Matos said, noting that is the "top-line concern" for bond investors, "who don't have meaningful protection against secured loans."

Posted by J.M. Hamilton Blog at 5/15/2012 6:30 PM | Add Comment

TransCanada recently filed a new application with the State Department, with alternative routes designed to avoid Nebraska’s Sand Hills region, an environmentally sensitive area that is at risk from potential pipeline leaks.

Posted by J.M. Hamilton Blog at 5/15/2012 2:00 PM | Add Comment

"By achieving our consistent goal of $9.5 billion in debt by year end, we believe our credit quality and value to both bond investors and shareholders will be much greater."

Posted by J.M. Hamilton Blog at 5/15/2012 1:30 PM | Add Comment

How about a price decline at the pumps? Oh Forgot, the Cartel is only Responsive to the Market when its Jacking Up Prices!

Posted by J.M. Hamilton Blog at 5/15/2012 12:45 PM | Add Comment

"Although China has cut banks' cash reserves, traders are focusing on the negative and if something happens in Europe this week, oil prices will be further pushed down."

Posted by J.M. Hamilton Blog at 5/14/2012 7:30 PM | Add Comment

The new loan is from Goldman Sachs Bank USA and Jefferies Group Inc., which has represented Chesapeake on most of its recent deal making.

Posted by J.M. Hamilton Blog at 5/14/2012 10:30 AM | Add Comment

"From an insurance standpoint, it's really hard to underwrite something with a lot of uncertainty."

Posted by J.M. Hamilton Blog at 5/14/2012 7:44 AM | Add Comment

The nation's second-largest producer of natural gas after Exxon Mobil Corp. has been suffering from dwindling cash flow because of decade-low prices for its main product.

Posted by J.M. Hamilton Blog at 5/12/2012 2:30 PM | Add Comment

The industry and some of its Republican allies are already attacking the rules as heavy-handed federal intrusion. The American Petroleum Institute warned that the overlap with state rules would have a “chilling effect” on investment

Posted by J.M. Hamilton Blog at 5/11/2012 7:00 PM | Add Comment

Struggling Chesapeake Energy Corp. has saddled itself with about $1.4 billion dollars of previously unreported liabilities

Posted by J.M. Hamilton Blog at 5/11/2012 1:30 PM | Add Comment

The energy world's most hopeless case just twitched an eyebrow. But natural gas isn't ready to leave intensive care just yet.

Posted by J.M. Hamilton Blog at 5/10/2012 7:00 PM | Add Comment

The disclosures have embroiled the company in a corporate-governance crisis, prompting the board to strip McClendon of his chairmanship and U.S. regulators to open informal inquiries.

Posted by J.M. Hamilton Blog at 5/10/2012 6:28 PM | Add Comment

James Hansen directs the NASA Goddard Institute for Space Studies and is the author of “Storms of My Grandchildren.”

Posted by J.M. Hamilton Blog at 5/10/2012 11:00 AM | Add Comment

Oil declined for a seventh day after Chinese crude imports retreated. Stocks in Europe and China fell, while the euro snapped its longest slide since 2008.

Posted by J.M. Hamilton Blog at 5/10/2012 6:15 AM | Add Comment

Then, it said, “if Keystone is unable to successfully negotiate the voluntary acquisition of the necessary easements, it will have to resort to the exercise of its statutory right of eminent domain.”

Posted by J.M. Hamilton Blog at 5/8/2012 5:00 PM | Add Comment

The planet is getting richer as well as more crowded, and the pressure to produce more energy will become acute long before the end of the century.

Posted by J.M. Hamilton Blog at 5/8/2012 12:00 PM | Add Comment

Still, gas prices remain high enough to be a drag on the economy.

Posted by J.M. Hamilton Blog at 5/8/2012 9:30 AM | Add Comment

"She has demonstrated time and again that she doesn’t care what the outside world thinks."

Posted by J.M. Hamilton Blog at 5/6/2012 11:59 PM | Add Comment

U.S. gold futures for June delivery settled up $10.40 an ounce at $1,645.20.

Posted by J.M. Hamilton Blog at 5/6/2012 12:00 AM | Add Comment

The ConocoPhillips spinoff stands to benefit from the boom in U.S. energy production. Phillips stock could see gains of 30% or more.

Posted by J.M. Hamilton Blog at 5/5/2012 7:30 PM | Add Comment

“As we continue to offer millions of acres of America’s public lands for oil and gas development, it is critical that the public have full confidence that the right safety and environmental protections are in place,” Mr. Salazar said.

Posted by J.M. Hamilton Blog at 5/5/2012 6:00 AM | Add Comment

"Repsol invested little in Argentina," Rossi said. "But it was YPF and Argentine oil that financed Repsol's growth around the world."

Posted by J.M. Hamilton Blog at 5/4/2012 9:00 PM | Add Comment

The rules, which are likely to be unveiled by the Interior Department within days, are designed to address concerns that the method of extracting natural gas known as "fracking" can contaminate groundwater.

Posted by J.M. Hamilton Blog at 5/4/2012 3:30 PM | Add Comment

U.S. District Judge Carl Barbier Thursday assigned a trial date of Jan. 14, 2013, more than 10 months after it was supposed to begin.

Posted by J.M. Hamilton Blog at 5/4/2012 1:30 PM | Add Comment

"Commodities markets are more loosely regulated than equity markets, and insider trading in commodities is not considered illegal unless there is price manipulation."

Posted by J.M. Hamilton Blog at 5/3/2012 8:00 PM | Add Comment

Faced with a Glut a Cartel Seeks to Strangle Supply: "Exxon Mobil Corp., Encana Corp. and ConocoPhillips, among the country's largest natural gas producers, said in recent days they reduced production in the first quarter and pledged to reduce drilling fu

Posted by J.M. Hamilton Blog at 5/3/2012 8:29 AM | Add Comment

"While at first glance this may seem to be outside the realm of normalcy, perhaps not. Delta spends hundreds of millions of dollars a year to hedge fuel costs," writes Sterne Agee analyst Jeffrey Kauffman.

Posted by J.M. Hamilton Blog at 5/2/2012 4:55 AM | Add Comment

Requiring disclosure of chemicals “would only be required after the fracturing operation has taken place,” according to the draft, obtained by Bloomberg News.

Posted by J.M. Hamilton Blog at 5/1/2012 6:29 PM | Add Comment

Santa, the Easter Bunny, and Clouds...!

Posted by J.M. Hamilton Blog at 5/1/2012 6:00 PM | Add Comment

Two refineries in the Philadelphia region — the Trainer refinery and Sunoco’s Marcus Hook — and one in the Virgin Islands, accounting for half of the East Coast’s refining capacity, have shut down since September.

Posted by J.M. Hamilton Blog at 5/1/2012 3:15 PM | Add Comment

Diluted earnings per share were 30.74 cents, compared with 38.10 cents in the same period of the previous year.

Posted by J.M. Hamilton Blog at 5/1/2012 2:31 PM | Add Comment

The energy transportation and distribution company Sunoco agreed Monday to be sold to Energy Transfer Partners, a pipeline operator, for $5.3 billion

Posted by J.M. Hamilton Blog at 5/1/2012 8:00 AM | Add Comment

“To a large extent there is commonality between the engineering and management skills required to successfully deliver offshore oil and gas projects and those required to successfully deliver offshore wind projects,” said Richard Cook

Posted by J.M. Hamilton Blog at 5/1/2012 6:45 AM | Add Comment

The Carlyle Group is now in exclusive negotiations to buy a majority stake in Sunoco's Philadelphia plant, the largest on the East Coast and also at risk of closure.

Posted by J.M. Hamilton Blog at 4/30/2012 8:30 AM | Add Comment

Mr. Netanyahu is dealing with the criticisms at the same time as he faces, for domestic political reasons, the prospect of an election this year, rather than next.

Posted by J.M. Hamilton Blog at 4/30/2012 7:15 AM | Add Comment

Mexico’s president, Felipe Calderon, warned: “We all need investment, and nobody in their right mind invests in a country that expropriates investments."

Posted by J.M. Hamilton Blog at 4/30/2012 6:00 AM | Add Comment

The oil curse: How petroleum wealth shapes the development of nations

Posted by J.M. Hamilton Blog at 4/29/2012 12:15 PM | Add Comment

ExxonMobil distributes nearly $11 billion, beating dividend payouts by behemoths Apple and AT&T.

Posted by J.M. Hamilton Blog at 4/28/2012 12:29 PM | Add Comment

Natural gas figures large in these two oil majors' long-term strategies and it also loomed over their first-quarter results released Thursday. The similarities ended there however.

Posted by J.M. Hamilton Blog at 4/27/2012 12:29 PM | Add Comment

Exxon's enviable cash position – more than $19 billion in total cash at the end of the first quarter – allows it to maintain its share buyback program, while supporting the higher yield.

Posted by J.M. Hamilton Blog at 4/27/2012 9:00 AM | Add Comment

The majority of the borrowing came from an investment management firm that is also a major financier of Chesapeake itself.

Posted by J.M. Hamilton Blog at 4/27/2012 5:30 AM | Add Comment

Criticism of the plan has mounted since Reuters reported last week that Mr. McClendon had used his stake in Chesapeake wells as collateral for up to $1.1 billion in personal loans

Posted by J.M. Hamilton Blog at 4/26/2012 6:29 PM | Add Comment

Exxon Mobil Corp. (XOM) increased its quarterly distribution to shareholders by 21 percent as oil prices remain above $100 a barrel, making the energy company the world’s biggest dividend payer.

Posted by J.M. Hamilton Blog at 4/26/2012 9:30 AM | Add Comment

Obama, seeking to deflect blame for gas prices, points to the rise in domestic oil production on his watch, while calling for steps to reduce American dependence on foreign oil and seeking action against market manipulators.

Posted by J.M. Hamilton Blog at 4/25/2012 4:31 PM | Add Comment

According to an affidavit filed with the criminal complaint, Mr. Mix, a drilling and completions project engineer for BP, was involved in efforts to monitor and stop the oil leaking from the well following the accident.

Posted by J.M. Hamilton Blog at 4/25/2012 6:30 AM | Add Comment

Why is Private Equity Lining Up to Purchase the Phili Refinery... Sunoco Said They Couldn't Make Money Running It???

Posted by J.M. Hamilton Blog at 4/24/2012 8:15 PM | Add Comment

Shell is offering Cove Energy shareholders 220 pence for each of their shares in the company.

Posted by J.M. Hamilton Blog at 4/24/2012 7:00 PM | Add Comment

The company’s safety procedures went largely unscrutinized as it joined the oil majors drilling in deepwater areas of the Gulf of Mexico.

Posted by J.M. Hamilton Blog at 4/24/2012 8:15 AM | Add Comment

Crude-oil futures slipped 0.7% to settle at $103.11 a barrel, while gold futures eased 0.6% to finish at $1631.90 an ounce. The U.S. dollar rose against the euro but lost ground against the yen.

Posted by J.M. Hamilton Blog at 4/23/2012 7:30 PM | Add Comment

ConocoPhillips is scheduled to report earnings Monday, while Exxon and Chevron are slated for Thursday and Friday, respectively.

Posted by J.M. Hamilton Blog at 4/23/2012 6:30 AM | Add Comment

Is Fracking Good for Property Insurers???

Posted by J.M. Hamilton Blog at 4/22/2012 5:00 AM | Add Comment

While Obama's bill currently has little hope of making it through a divided Congress, a price spike before November could boost cross-party support from politicians wary of siding with oil traders in an election year.

Posted by J.M. Hamilton Blog at 4/20/2012 3:30 PM | Add Comment

Please tell us again how oil prices are not manipulated by speculators???? - JMH

Posted by J.M. Hamilton Blog at 4/20/2012 2:15 PM | Add Comment

What is missing is the accountability that comes from real consequences: a criminal prosecution that holds responsible the individuals who gambled with the lives of BP’s contractors and the ecosystem of the Gulf of Mexico.

Posted by J.M. Hamilton Blog at 4/20/2012 8:15 AM | Add Comment

The Obama administration’s new rules aimed at cutting harmful emissions from natural gas wells are a win for the environment

Posted by J.M. Hamilton Blog at 4/20/2012 7:45 AM | Add Comment

“The $8 billion exemption level is far too high and far higher than was originally proposed last year. I think this demonstrates the enormous lobbying effort of Wall Street and major energy and commodity companies that have been working to undermine Dodd-

Posted by J.M. Hamilton Blog at 4/20/2012 5:15 AM | Add Comment

But Dow and its peers are seeing new opportunity in huge domestic deposits of gas.

Posted by J.M. Hamilton Blog at 4/19/2012 10:31 AM | Add Comment

Gasoline futures drop for the fourth-straight day, leading some market participants to declare prices have peaked. If they're right, it's good news for drivers and the Obama administration.

Posted by J.M. Hamilton Blog at 4/19/2012 10:15 AM | Add Comment

And of Course the head of the CFTC, Mr. Gensler, is a Goldman Alum...

Posted by J.M. Hamilton Blog at 4/19/2012 9:00 AM | Add Comment

Spain vowed to retaliate against Argentine exporters and energy supplies as Repsol demanded $10.5 billion in compensation and vowed to use all legal means to win full payment.

Posted by J.M. Hamilton Blog at 4/18/2012 2:45 PM | Add Comment

Friday is the second anniversary of the explosion at BP’s Deepwater Horizon rig that killed 11 workers and spilled upwards of five million barrels of oil into the Gulf of Mexico.

Posted by J.M. Hamilton Blog at 4/18/2012 10:00 AM | Add Comment

It is also unclear whether foreign condemnation can force Ms. Kirchner into a rethink—so far she has resisted pressure from both the U.S. and Spain.

Posted by J.M. Hamilton Blog at 4/18/2012 9:00 AM | Add Comment

“Current departures aside, Dewey & LeBoeuf retains one of the world’s leading energy practices spanning virtually every aspect of the sector across the globe,” said the firm.

Posted by J.M. Hamilton Blog at 4/18/2012 5:15 AM | Add Comment

ISN'T IT TIME TO ABOLISH THE 22nd AMENDMENT TO THE CONSTITUTION????

Posted by J.M. Hamilton Blog at 4/17/2012 6:45 PM | Add Comment

Cheniere Energy Inc. received federal approval Monday to construct what would be the first major natural gas export facility in the lower 48 U.S. states

Posted by J.M. Hamilton Blog at 4/17/2012 6:00 PM | Add Comment

"This battle is not over," Repsol Chairman Antonio Brufau said. "The expropriation is nothing more than a way of covering over the social and economic crisis facing Argentina right now."

Posted by J.M. Hamilton Blog at 4/17/2012 5:45 PM | Add Comment

YPF's market value was $10.6 billion as of Friday in Argentina. Its American depositary shares fell 11% in New York trading on Monday.

Posted by J.M. Hamilton Blog at 4/17/2012 11:30 AM | Add Comment

Rosneft’s effort to complete a similar strategic partnership with BP collapsed last year.

Posted by J.M. Hamilton Blog at 4/17/2012 10:15 AM | Add Comment

"We understand there may be potential implications of this decision to our companies, the state of Texas and local taxing entities," Ms. Hastings said.

Posted by J.M. Hamilton Blog at 4/17/2012 9:30 AM | Add Comment

Argentina’s president, Cristina Fernández de Kirchner, announced on Monday that the government would seize a majority stake in YPF, the nation’s largest oil company.

Posted by J.M. Hamilton Blog at 4/17/2012 5:30 AM | Add Comment

Exxon CEO Rex Tillerson was expected to attend the event, which will be held at Putin's Novo-Ogaryovo residence outside Moscow

Posted by J.M. Hamilton Blog at 4/16/2012 8:15 AM | Add Comment

"Prison is what makes the difference. Otherwise, it’s only money."

Posted by J.M. Hamilton Blog at 4/14/2012 12:00 PM | Add Comment

Currently, almost all Canadian crude exports travel to the U.S. While Canadian oil output has been climbing fast

Posted by J.M. Hamilton Blog at 4/14/2012 5:00 AM | Add Comment

"Iran's National Oil Company has admitted that demand for the country's oil had dropped."

Posted by J.M. Hamilton Blog at 4/13/2012 4:31 PM | Add Comment

Groundwater knows no boundaries and what happens in one state can affect other areas.

Posted by J.M. Hamilton Blog at 4/13/2012 12:01 PM | Add Comment

“For security reasons, the board requires the chairman and CEO to use company aircraft for both personal and business travel,” Exxon said in the filing.

Posted by J.M. Hamilton Blog at 4/13/2012 7:15 AM | Add Comment

Fracking, Natural Gas, and Earthquakes...

Posted by J.M. Hamilton Blog at 4/13/2012 6:15 AM | Add Comment

"Iran's traditional crude buyers are struggling to arrange payment mechanisms, secure ships to lift the oil and insurance companies to underwrite the trade," the IEA said.

Posted by J.M. Hamilton Blog at 4/12/2012 11:30 AM | Add Comment

GAS GLUT BUT PRICES AT THE PUMP ARE OUTRAGEOUS.... WHY?

Posted by J.M. Hamilton Blog at 4/12/2012 8:00 AM | Add Comment

Natural Gas Tips Below $2, First Time Since 2002 4/11/2012 5:37:23 PM

Posted by J.M. Hamilton Blog at 4/12/2012 7:30 AM | Add Comment

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