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US oil giants Chevron and ExxonMobil signaled Friday further belt-tightening ahead as the industry responds to lower oil prices that slammed earnings in the second quarter. Chevron said it was trimming 1,500 jobs as it cuts 2015 capital spending about $5 billion compared with last year. “We’re getting our cost structure down, through renegotiations across the supply chain and by sizing our contractor and employee workforce to reflect lower activity
[Marketwired] – Entree Gold Inc. has today filed its interim operational and financial results for the quarter ended June 30, 2015.
Exxon Mobil shares fell 3.5 percent while Chevron was down 3.9 percent after reporting poor quarterly earnings due to weak oil prices. This definitely puts a lower probability on that,” said Stanley Sun, interest rate strategist at Nomura Securities International in New York. The S&P 500 was down a marginal 0.02 percent at 2,108.13 and the Nasdaq Composite added 0.18 percent to 5,138.08.
Lower oil prices hammered earnings of US petroleum giants ExxonMobil and Chevron Friday, adding to the industry’s woes amid its worst downturn since the late 1990s. ExxonMobil, the biggest US oil company, said second-quarter profits fell by 52.3 percent year-over-year to $4.2 billion as it reported a loss in its US exploration and production division. The carnage was even worse at Chevron, which reported about a 90 percent drop in
(Reuters) – Imperial Oil Ltd , Canada’s No.2 integrated oil producer and refiner, reported a lower-than-expected quarterly profit, hurt by the slump in crude prices. Global oil prices have nearly halved in the past year, hurting oil and gas companies and forcing them to cut expenditure and jobs. Imperial, majority owned by Exxon Mobil Corp , said on Friday that its capital expenditure fell about 41 percent to C$819 million
Graphic shows the national average price for a gallon of regular gasoline.; 1c x 3 inches; 46.5 mm x 76 mm;
