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Oil price declines have small-cap shale investors scrambling
2014-10-30 09:19:00| Climate Ark Climate Change & Global Warming Newsfeed
Reuters: Plummeting oil prices are pushing some of the small-cap companies which flourished as part of the U.S. shale energy boom close to their breaking point, while also prompting some well-known fund managers to aggressively buy energy stocks. Concerns about slowing growth in Europe and a stronger dollar have helped push the price of light crude oil down about 25 percent since June to about $82 a barrel, creeping closer to the average marginal cost of crude production of about $73 a barrel for U.S....
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Price of Brent crude oil increases above $86
2014-10-29 01:00:00| Offshore Technology
The price of Brent crude oil increased above $86 a barrel today ahead of the Federal Reserve statement on the US monetary policy.
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Falling oil price puts BP's profits at risk of 20% drop, say analysts
2014-10-26 23:28:39| Oil & Gas - Topix.net
The dramatic effect of falling oil prices on profits in the energy sector will be underlined this week as BP unveils third quarter earnings that could be as much as 20% lower than the same period last year. The cost of crude on global markets has plunged since June, reflecting faltering growth in the world economy, reduced fears about Middle East production levels and soaring US shale output.
Saudi SABIC's CEO says oil price decline is temporary
2014-10-26 10:35:41| Chemicals - Topix.net
The recent decline in global oil prices will prove temporary even if it lasts a year or so, since population growth will ultimately bring higher consumption and prices, the chief executive of Saudi Basic Industries Corp said on Sunday. Mohamed al-Mady was speaking to reporters after the company, one of the world's largest petrochemicals groups and the Gulf's largest listed company, reported a 4.5 percent drop in third-quarter net income, missing analysts' forecasts.
Cenovus, Husky take oil price drop in stride, stress flexibility is key
2014-10-24 02:25:32| Energy - Topix.net
Executives with two big Canadian oil companies are taking recent oil price weakness in stride, signalling no immediate plans to throttle back spending, but ensuring they have the flexibility to do so if needed. Cenovus Energy Inc. and Husky Energy Inc. are both in the midst of finalizing their capital budgets in 2015, with details set to be unveiled in December.
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