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Pioneer Natural Resources loses $5M as low oil prices, winter weather take a toll
2015-05-06 02:43:00| Oil & Gas - Topix.net
Pioneer Natural Resources posted a net income loss of $5 million in the first quarter as low oil prices and severe winter weather hampered production in the Permian Basin, according to earnings released Tuesday afternoon. The company's net income loss is down 102 percent from the first quarter of 2014 when Pioneer earned a cool $184 million.
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Gas prices flatten, but group says oil companies gouge drivers
2015-05-06 01:43:04| Oil & Gas - Topix.net
Gasoline prices in the Bay Area have flattened out after a recent price spike that prompted a consumer group to claim Tuesday that oil companies in California have taken advantage of the fuel markets to gouge consumers. Recent spikes in gasoline prices that occurred during the first three months of this year coincided with a geyser of profits for at least two oil companies in California, Valero and Tesoro, according to a study by Consumer Watchdog.
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Libyan supply concern pushes oil prices to 2015 high
2015-05-06 01:00:00| Offshore Technology
Oil prices spiked up on Wednesday, following supply disruption in Libya reaching near a 2015 high while a weak dollar gave further support price rally.
With oil prices low, refining saves the day for Exxon and Shell
2015-05-04 21:22:37| Chemicals - Topix.net
The low oil prices that have been dogging the energy industry led to dramatically lower quarterly earnings for Royal Dutch Shell and Exxon Mobil, but the two giant companies did better than analysts had expected. Profits for Shell , Europe's largest oil company, amounted to $3.2 billion, adjusted for inventory changes and one-time benefits, during the first quarter of 2015.
Oil prices up, but Eagle Ford rig count continues to fall
2015-05-04 06:53:12| Oil & Gas - Topix.net
Crude oil prices are trading above $59 per barrel for the first time since December, but new drilling activity continues to fall in the Eagle Ford and other shale regions. West Texas Intermediate crude prices have been recovering all week, reaching a high above $59 per barrel, but higher prices have not yet materialized in more drilling activity.
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