Crude Petroleum Extraction

There’s still too much risk in stock and bond markets. Earn this easy 4.5% return while you wait for stability, says trader who hit 2 big calls in 2022.

by
There’s still too much risk in stock and bond markets. Earn this easy 4.5% return while you wait for stability, says trader who hit 2 big calls in 2022.

Ahead of major tech earnings, Meta results are ready to light up the Nasdaq Composite COMP, +2.00% for Thursday. The S&P 500 SPX, +1.05% is also pointing to gains as investors take a glass-half full view of the Fed meeting. Worried that investors are in the clutches of another Fed misread is the founder of LaDucTrading.com, … Read more

The best-performing sector in 2022 is not finished crushing it, says Citi, offering three stocks to buy

by
The best-performing sector in 2022 is not finished crushing it, says Citi, offering three stocks to buy

You can count on it, says our call of the day provided by Citigroup, though they say investors can’t expect as lofty returns. “We see market rotation into energy equities as having further to run, even though names in our U.S. coverage already sit at all-time highs,” a team of analysts led by Alastair R … Read more

OPEC+ Eyes Output Increase Ahead of Restrictions on Russian Oil

by
OPEC+ Eyes Output Increase Ahead of Restrictions on Russian Oil

OPEC oil producers are discussing an output increase, the group’s delegates said, a move that could help heal a rift between Saudi Arabia and the Biden administration and keep energy flowing amid new attempts to blunt Russia’s oil industry over the Ukraine war. A production increase of up to 500,000 barrels a day is now … Read more

This oil company is America’s hottest stock. Why won’t its CEO pump more oil?

by
This oil company is America’s hottest stock. Why won’t its CEO pump more oil?

Vicki Hollub’s Occidental Petroleum controls the biggest piece of the most important area for oil production in the United States. Not so long ago, an oilman in a position like that—and it would’ve been a man, before Hollub came along—would have gone for broke, turning up production to its physical limits.  Not Hollub. Occidental produces … Read more

Schlumberger Rebrands as SLB, Dropping Family Name

by
Schlumberger Rebrands as SLB, Dropping Family Name

Schlumberger Ltd. SLB 2.58% is changing its name to SLB, dropping the family name of the brothers who founded the oil-field services company nearly a century ago. Newsletter Sign-up WSJ Climate & Energy A weekly must-read of news, analysis and exclusive data focused on the intersection of business, money and climate. The company said the … Read more

Warren Buffett Not Expected to Bid for Control of Occidental Following Approval for Bigger Stake

by
Warren Buffett Not Expected to Bid for Control of Occidental Following Approval for Bigger Stake

Warren Buffett’s bid to boost his big stake in Occidental Petroleum Corp. OXY 9.88% even further isn’t expected to serve as a prelude to a full takeover of the resurgent energy company by the widely watched billionaire, at least for now. In a regulatory filing Friday, the Federal Energy Regulatory Commission said that Mr. Buffett’s … Read more

Warren Buffett’s Berkshire Hathaway Cleared to Buy as Much as Half of Occidental’s Shares

by
Warren Buffett’s Berkshire Hathaway Cleared to Buy as Much as Half of Occidental’s Shares

In a regulatory filing Friday, the Federal Energy Regulatory Commission said that Berkshire Hathaway had asked for and received its permission to buy up to 50% of the driller’s shares. Berkshire has been loading up on Occidental’s shares this year, amassing roughly 20% of the company’s stock, public filings show, leaving many analysts to speculate … Read more

Occidental Petroleum Tops Profit Estimates, Pays Down Debt

by
Occidental Petroleum Tops Profit Estimates, Pays Down Debt

Text size Occidental stock has doubled this year and is the top performer in the S&P 500, Callaghan O’Hare/Bloomberg Warren Buffett probably liked Occidental Petroleum ’s second-quarter earnings report. Occidental Petroleum (Ticker OXY), in which Buffett’s Berkshire Hathaway (BRK/A, BRK/B) is the largest shareholder, topped profit estimates, paid down nearly $5 billion in debt and … Read more

India Tells Oil Companies to Load Up on Discounted Russian Crude

by
India Tells Oil Companies to Load Up on Discounted Russian Crude

The Indian government has asked state oil companies to scoop up huge volumes of cheap crude from Russia, according to industry executives, strengthening commercial ties with the country even as the West tightens sanctions on Moscow. Western countries have sought to hamper Russia’s ability to use its vast oil and gas exports to fund the … Read more

Saudi Oil Boost, Yemen Truce Set Stage for Biden Visit to Kingdom

by
Saudi Oil Boost, Yemen Truce Set Stage for Biden Visit to Kingdom

Saudi Arabia took steps Thursday to boost oil production and extend a truce with Iran-backed forces in Yemen, two significant moves that help pave the way for President Biden to visit the kingdom later this month as the two countries try to reset their strained relationship. Saudi-led OPEC and its allies agreed to a bigger-than-expected … Read more