BOE Report

BOE Report Staff

  • X

Oil follows stocks higher after US jobs report

  NEW YORK - Oil prices rose Friday as traders took their cue from the soaring stock market, after some initial disappointment with the latest report on U.S. employment Hopes of stronger economic growth in the U.S. and abroad helped push the U.S. stock market to a five-year high in January and sent crude prices up. When economies expand, more gasoline, diesel and jet fuel are consumed by shippers and travellers. U.S. employers added 157,000 jobs in January, and hiring was much [Read more]

Redford names David Manning Alberta’s envoy to Washington

  CALGARY - The Alberta government is choosing energy experience over political acumen to represent the province's interests in Washington and Ottawa. Premier Alison Redford has named a former president of the Canadian Association of Petroleum Producers to be the province's envoy in Washington, D.C. David Manning has extensive experience in the oil and gas sector and is a one-time deputy energy minister. He at one time was an executive and chief environment officer for [Read more]

Weekly Canadian Rig Count nearly unchanged from last week

[table] [attr style="width: 20%"]`[attr style="width: 30%"]`[attr style="width: 25%"]Oil`[attr style="width: 25%"]Gas [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`473`152 Last Week`474`147 Last Year`515`194 Week over Week Change`-1`+5 Year over Year Change`-42`-42[/table] [table] [attr style="width: 20%"]`[attr style="width: 30%"]`[attr style="width: 25%"]Oil`[attr style="width: 25%"]Gas [attr rowspan="5" [Read more]

32 die, 121 treated in Mexico oil company headquarters blast, cause unknown

  MEXICO CITY - Rescuers searched for survivors Friday and authorities promised a thorough investigation after an office building blast killed 32 people and injured 121 at the headquarters of Mexico's state-owned oil company, Petroleos Mexicanos. The cause of the basement explosion in an administrative building next to the iconic, 51-story Pemex tower in Mexico City remained a mystery, with President Enrique Pena Nieto urging people not to speculate. Theories ranged from an electrical [Read more]

Chevron profit up 41 per cent on asset exchange gain, improving refineries, higher production

  Chevron says net income rose 41 per cent in the fourth quarter as the company produced more oil and gas, improved performance of its refinery business and realized a gain from swapping assets in an Australian natural gas field. Chevron Corp. posted net income of $7.2 billion for the quarter on revenue of $60.6 billion. That's up from $5.1 billion on revenue of $60 billion a year ago. On a per-share basis, Chevron earned $3.70. Analysts had expected the company to earn $3.07 per [Read more]

Exxon Mobil’s 4Q profit rises 6 per cent to $9.95 billion, helped by higher refining margins

  DALLAS - Exxon says fourth-quarter earnings rose 6 per cent to $9.95 billion with help from higher profit margins in its refining business. The biggest U.S. oil company still makes most of its money by producing oil and gas, but that end of the business is less profitable than a year ago because of lower prices and production. Exxon is making up the difference at its refineries. The company said Friday that net income for the fourth quarter equaled $2.20 per share, compared with [Read more]

Changed Number of Outstanding Shares in BlackPearl

BlackPearl Resources Inc. (the "Company") (PXX.TO)(OMX:PXXS) As a result of the exercise of options, the total number of shares and votes in the Company has changed during January 2013 as follows. The number of shares has increased by 342,500 and the total number of shares and votes in the Company as of January 31, 2013 is 296,108,308. The above information has been made public in accordance with the Swedish Financial Instruments Trading Act. [Read more]

MEG transporting crude by rail, barge to skirt around pipeline bottlenecks

  By Lauren Krugel, The Canadian Press CALGARY - Oilsands producer MEG Energy Corp. is working around pipeline bottlenecks by using railcars and barges to get its crude to market. At the heart of what it calls its "hub and spoke" strategy is the Stonefell storage terminal near Edmonton, which MEG expects to complete in mid-2013. Don Moe, vice president of supply and marketing, says the terminal can serve as a launch point for pipeline and rail connections. The company has a [Read more]

Canadian Oil Sands Announces 2012 Financial Results and a $0.35 Per Share Dividend

Canadian Oil Sands Limited (COS.TO) (COSWF) All financial figures are unaudited and in Canadian dollars unless otherwise noted. Highlights for the three months and year ended December 31, 2012: Cash flow from operations was $418 million ($0.86 per Share) in the fourth quarter of 2012 compared with cash flow from operations of $363 million ($0.75 per Share) in the same quarter of 2011. For the 2012 year, cash flow from operations totalled $1,581 million ($3.26 per Share), down 17 per [Read more]