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Tech Talk From McMillan

Thu, 03 Dec 2009 14:45:07 GMT

"Nothing has changed to unseat this liquidity-driven rally," says options expert Larry McMillan. In The Daily Strategist, he eyes the technical side of the market and some new trading ideas.[More...]

Oil And Natural Gas Investments: Why You Should Buy Black Gold Now

Thu, 03 Dec 2009 14:42:35 GMT

Some day in the future, human beings will likely colonize Mars. But if I suggested you invest in its colonization now, you'd rightly think I was a few cards short of a full deck.[More...]

Hot Stocks: How The 'Beta Chase' Could Spark A Major Breakout For Exxon

Wed, 21 Oct 2009 17:17:00 GMT

The shares of energy-sector heavyweight ExxonMobil Corp. (NYSE: XOM) could return to their highs for the year – a run of 10% or better – thanks to a bull-market event that I like to describe as the “beta chase.”[More...]

Why Is Goldman Reportedly On Track To Pay Record Or Near-Record Bonuses This Year?

Mon, 19 Oct 2009 17:32:14 GMT

Yves Smith returned from book-writing land to catch up on the Andrew Hall story, which is one that I pretty much decided to ignore from the beginning. Hall is the Citigroup trader who, according to his compensation agreement, was due a $100 million bonus. The bonus was so big because Hall and his team were due 30% of the profits from their trades, which is even more than typical hedge fund fees. (This tradition of particular trading groups negotiating a share of their profits dates back at least to Salomon in its heyday; AIG Financial Products also had this type of deal.)[More...]

2010 Natural Gas Forecast

Mon, 12 Oct 2009 16:36:34 GMT

Other investors are finally starting to catch on to our bullish outlook for natural gas. And once every so often, I'll find another analyst that hits the nail right on the head. You've probably had a similar experience.[More...]

Three Energy Stocks Our Top Managers May Have Overlooked

Mon, 05 Oct 2009 14:57:33 GMT

The last year and a half has been a tumultuous one not just for the financial sector but for the energy sector, as well. Just over a year ago, crude oil prices were topping out above $140 a barrel before starting a downward spiral that left prices bottoming out around $35 per barrel earlier this year.[More...]

Exxon Mobil (NYSE: XOM) : Q2 Earnings Preview 2009

Thu, 23 Jul 2009 15:46:49 GMT

Exxon Mobil ((XOM) is scheduled to report their second quarter 2009 results before the market opens on Thursday, July 30. Based on our analysis, we at EarningsPreviews.com are expecting XOM to report better than expected results that exceed Wall Street’s consensus expectations. [More...]

Boone Pickens' Hedge Fund BP Capital: Licking Wounds (13F Filing Q1 2009)

Thu, 11 Jun 2009 16:18:00 GMT
This is the 1st Quarter 2009 edition of our ongoing hedge fund portfolio tracking series. Before reading this update, make sure you check out the Hedge Fund 13F filings series preface. Next up, we have BP Capital. With all the commotion surrounding energy these days, it never hurts to track[More...]

The Six Ways To Play Canada’s Oil Sector

Wed, 13 May 2009 16:40:00 GMT
With oil finally trading back above the $50-a-barrel level, it’s time to recognize that crude prices are probably not going to remain low for very long, and may end up fluctuating in the $50-$80 range - regardless of what happens to the prices of other co[More...]

Iraqi PM: Cabinet to discuss Zubair deal next week

Tue, 10 Nov 2009 16:47:00 GMT

BAGHDAD - Iraq's Cabinet will meet next week to ratify a deal with a consortium led by Italy's Eni SpA to develop a prized southern oil field, the prime minister said Tuesday.
Eni, the U.S.'s Occidental Petroleum Corp. and South Korea's KOGAS last week initialed a deal to develop the 4.1 billion barrel Zubair field, with an eye toward boosting output from around 200,000 barrels per day to 1.1 million barrels per day within seven years.
Another deal initialed last week, with a consortium led by U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC for the West Qurna Stage 1 field, is also awaiting Cabinet approval.
[More...]

ExxonMobil-led group signs deal to develop Iraqi oil field

Thu, 05 Nov 2009 22:47:00 GMT

BAGHDAD, Iraq _ The Iraqi government on Thursday signed a deal with a consortium led by U.S. oil giant ExxonMobil Corp. to develop a major oil field in southern Iraq, marking the first entry by an American-dominated group into Iraq's oil industry since it was nationalized in 1972.
The deal coincides with a flurry of activity this week that suggests major oil companies are finally poised to return to Iraq, more than six years after the U.S. invasion raised hopes of access to some of the world's largest and most underdeveloped oil reserves.
This week, a group led by Italy's Eni that includes the U.S. company Occidental Petroleum Corp initialed a preliminary agreement, and Britain's BP and China National Petroleum Corp. finalized an accord to develop oil fields in the south.
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Exxon-Shell awarded Iraqi oil deal

Thu, 05 Nov 2009 19:50:00 GMT

The Iraqi Oil Ministry granted Exxon Mobil Corp. and Royal Dutch Shell the rights to the West Qurna-1 oil field, awarding the contract over two other bids.
Lukoil, a Russian firm, along with ConocoPhillips submitted a bid for development rights, as did CNPC, The Wall Street Journal reported Thursday.
Aside from Occidental Petroleum Corp.'s involvement as a junior partner in a Eni SpA-led proposal granted a contract for oil development in Southern Iraq a week ago, the new deal is the first access to its oil reserves Iraq has given to a U.S. company.
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Exxon-Shell consortium wins West Qurna 1 deal

Thu, 05 Nov 2009 13:47:00 GMT

BAGHDAD - A consortium grouping U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC on Thursday signed a $50 billion deal to develop one of Iraq's most prized oil fields, as the OPEC nation looks to revamp its battered energy sector.
The deal to develop the 8.6 billion West Qurna Stage 1 field is the third such agreement in less than a week between a foreign oil consortium and Iraq, which sorely needs foreign company expertise and funding to revive an oil sector hammered by years of neglect, sanctions and, most recently sabotage.
"Iraq is now on its way to develop its oil industry."
[More...]

Exxon-Shell consortium wins West Qurna 1 deal

Thu, 05 Nov 2009 10:46:00 GMT

BAGHDAD - A consortium grouping U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC won the right to develop one of Iraq's most prized oil fields, Iraq's Oil Ministry spokesman said on Thursday, as the OPEC nation looks to revamp its battered energy sector.
The deal to develop the 8.6 million West Qurna Stage 1 field is the third such agreement in less than a week between a foreign oil consortium and Iraq, which sorely needs foreign company expertise and funding to revive an oil sector hammered by years of neglect, sanctions and, most recently sabotage.
Assem Jihad told The Associated Press the West Qurna deal will be initialed later in the day, and would then be forwarded to the Cabinet for approval.
[More...]

Federal, state tax prospects cloud independents' outlook

Mon, 02 Nov 2009 09:45:00 GMT

US House members launched their newly formed natural gas caucus on Oct. 21 with a hearing designed to rally support for a domestic fuel they believe could play an increasingly significant role.
Bruce H. Vincent, president of Houston-based independent Swift Energy Co. and vice- chairman of the Independent Petro- leum Association of America, warned that proposals be- ing made by Con- gress and President Barack Obama's administration could harm an industry that is already feeling pressure from lower commodity prices.
"If minerals are the cornerstone of the Wyoming revenue forecast, then natural gas is undoubtedly the cornerstone of the minerals forecast," the state's Consensus Revenue Estimating Group said in its Oct. 19 forecast.
[More...]

No boom time for Big Oil, but production up again

Thu, 29 Oct 2009 20:49:00 GMT

NEW YORK - Oil companies have begun to pump more petroleum and bring in more profits as they recover from an otherwise miserable year.
Exxon Mobil Corp. said Thursday that net income slumped 68 percent to $4.73 billion, or 98 cents per share, when compared with the same July-September period in 2008, the most lucrative ever for the oil industry.
Last year, crude spiked to near $150 a barrel, helping Exxon break its own profit records.
[More...]

ConocoPhillips 3Q profit tumble; production jumps

Wed, 28 Oct 2009 19:51:00 GMT

ConocoPhillips on Wednesday became the latest major oil company to report that its profit plunged in the third quarter while at the same time announcing a sharp uptick in production.
ConocoPhillips, however, is unique among the oil companies because of what it did during the run-up in energy prices several years ago.
ConocoPhillips is now scaling back and confirmed Wednesday that it would shed $10 billion in assets and scale down capital expenditures next year by 12 percent.
[More...]

Occidental's oil production jumps, profits slump

Thu, 22 Oct 2009 22:47:00 GMT

NEW YORK - Occidental Petroleum says it's producing more crude and making more money off of it in the third quarter even though profits slumped compared with last year when energy prices were at record highs.
The rebound in crude prices has allowed oil producers to ramp up production quickly, and Occidental produced more oil and gas during the past three months than it did in the same part of 2008.
Like most petroleum companies, Los Angeles-based Occidental's earnings suffered as it compared results with the July-September period of 2008, when oil prices spiked above $147 per barrel.
[More...]

Occidental's oil production jumps, profits slump

Thu, 22 Oct 2009 17:50:00 GMT

NEW YORK - Occidental Petroleum says it's producing more crude and making more money off of it in the third quarter even though profits slumped compared with last year when energy prices were at record highs.
The rebound in crude prices has allowed oil producers to ramp up production quickly, and Occidental produced more oil and gas during the past three months than it did in the same part of 2008.
Crude, which has become a popular hedge against the weak dollar, could fall again if the dollar improves and demand doesn't return, said Ann Kohler, an analyst with Caris and Company.
[More...]

Stock Watch: PrimeGen Energy -- November 12, 2009

Thu, 12 Nov 2009 13:46:00 GMT

Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Exxon Mobil Corporation (NYSE: XOM), Occidental Petroleum Corp. (NYSE: OXY) and Sunoco, Inc. (NYSE: SUN).
Yesterday after the markets closed, PrimeGen Energy Corporation (PINKSHEETS: PGNE) issued a press release announcing that that the drilling operator of the Timan-Pechora Project has reported that the drilling of Kochmesskoye # 7 well has reached total target depth October 26, 2009.
As part of the accelerated drilling program, an eighth well is scheduled for immediate drilling shortly after the results of the seventh well are announced.
[More...]

Occidental Petroleum, Mubadala and NOGA Form Joint Operating Company in Bahrain to Further Develop the Bahrain Field

Tue, 10 Nov 2009 13:49:00 GMT

LOS ANGELES, Nov. 10, 2009 (GLOBE NEWSWIRE) -- Occidental Petroleum Corporation (NYSE:OXY), Mubadala Development Company (Mubadala) and the National Oil and Gas Authority of Bahrain (NOGA) announced the creation of a new joint operating company, Tatweer Petroleum-Bahrain Field Development Company (Tatweer Petroleum), which will serve as the operator for the Bahrain Field.
Tatweer Petroleum will begin production and development activities immediately with its team largely comprised of individuals from the Bahrain Petroleum Company (Bapco), in addition to employees from Oxy and Mubadala.
The company also plans to hire additional local employees.
[More...]

Tri-Valley Concludes Annual Meeting With Positive Votes; Continues Capital Formation To Strengthen Balance Sheet and Advance Oil and Gold Projects

Fri, 30 Oct 2009 17:47:00 GMT

Tri-Valley Corporation (NYSE AMEX-TIV) announced that it had received sufficient proxies to elect management's slate of directors and pass all other measures on the ballot.
Management's slate of directors includes its vice chairman, G. Thomas Gamble of Gamble Family Vineyards of Napa Valley, California; Paul Bateman, president of Klein & Saks Group of Washington, D.C., Ambassador Ed Gabriel, president and CEO of The Gabriel Company of Washington, D.C., Dr. Henry Lowenstein, Dean of the Wall College of Business, Coastal Carolina University, Conway, South Carolina; Loren Miller, CPA, of Arcadia, California; James S. Mayer, principal, The Pinnacle Financial Group of Yardley, Pennsylvania and F. Lynn Blystone, chairman and chief executive officer of Tri-Valley Corporation and its five subsidiaries of Bakersfield, California.
Measure Three amended the Certificate of Incorporation to grant the Board of Directors authority to set terms for issuing preferred stock in the event the Company elects to do so.
[More...]

Occidental Petroleum Announces Third Quarter Net Income

Thu, 22 Oct 2009 11:46:00 GMT

LOS ANGELES, Oct. 22, 2009 (GLOBE NEWSWIRE) -- Occidental Petroleum Corporation (NYSE:OXY) announced net income of $927 million ($1.14 per diluted share) for the third quarter of 2009, compared with $2.3 billion ($2.77 per diluted share) for the third quarter of 2008.
In announcing the results, Dr. Ray R. Irani, Chairman and Chief Executive Officer, said, "Occidental achieved year-over-year production growth of nearly seven percent in the third quarter and eight percent in the nine months of 2009.
In addition, higher worldwide crude oil prices resulted in an increase in Occidental's third quarter of 2009 net income of 36 percent over the second quarter of 2009.
[More...]

Occidental Petroleum Announces Acquisition of Phibro

Fri, 09 Oct 2009 13:48:00 GMT

LOS ANGELES, Oct. 9, 2009 (GLOBE NEWSWIRE) -- Occidental Petroleum Corporation (NYSE:OXY) announced today that it signed an agreement to purchase Phibro LLC ("Phibro") from Citigroup Inc., for approximately net asset value.
Occidental's net investment in Phibro is expected to be about $250 million.
These future payouts will be adjusted to reflect Phibro's results during that period.
[More...]

Occidental Petroleum Announces Dividend

Thu, 08 Oct 2009 16:46:00 GMT

LOS ANGELES, Oct. 8, 2009 (GLOBE NEWSWIRE) -- Occidental Petroleum Corporation (NYSE:OXY) said today that its board of directors has declared a regular quarterly dividend of $.33 per share on common stock payable on January 15, 2010, to stockholders of record as of December 10, 2009.
This quarterly dividend is at the same level as the dividend paid in July.
Oxy has paid quarterly dividends continuously since 1975.
[More...]

ParagonReport.Com Complimentary Market Update on XOM, VZ, F and OXY

Fri, 31 Jul 2009 15:51:00 GMT

Paragon is pleased to announce that its latest Market Update analyzing major events involving Exxon Mobil Corp. (NYSE:XOM), Verizon Communications Inc. (NYSE:VZ), Ford Motor Company (NYSE:F) and Occidental Petroleum Corporation (NYSE:OXY) has been released.
www.ParagonReport.com is a leading online financial newsletter for subscribers seeking industry leading free independent and unbiased research.
All Analyst Reports will be posted under the "Quarterly Analyst Reports" page that you land on once logged into the site.
[More...]

Dow to Divest Ownership in OPTIMAL Group of Companies to PETRONAS for $660 Million

Thu, 30 Jul 2009 10:47:00 GMT

MIDLAND, Mich. and KUALA LUMPUR, Malaysia, July 30 /PRNewswire-FirstCall/ -- The Dow Chemical Company and Petroliam Nasional Berhad (PETRONAS) today announced that they have reached an agreement for Dow's Union Carbide Corporation subsidiary to sell its entire shares of ownership in the OPTIMAL Group of Companies (OPTIMAL) to PETRONAS for $660 million.
PETRONAS would fund this acquisition through internally generated funds.
Dow and PETRONAS have agreed to enter into a commercial supply agreement allowing the two companies to continue serving the current customer base with products manufactured by OPTIMAL.
[More...]

Occidental Petroleum Announces Net Income for Second Quarter and First Six Months of 2009

Thu, 23 Jul 2009 11:32:00 GMT
Occidental Petroleum Corporation announced net income of $682 million for the second quarter of 2009, compared with $2.3 billion for the second quarter of 2008.[More...]

Occidental Petroleum Announces Significant California Oil and Gas Discovery

Wed, 22 Jul 2009 20:57:00 GMT

LOS ANGELES, July 22, 2009 (GLOBE NEWSWIRE) -- Occidental Petroleum Corporation (NYSE:OXY) announced today that it has made a significant discovery of oil and gas reserves in Kern County, California.
Occidental's interest in the discovery area is approximately 80 percent.
"We believe this to be the largest new oil and gas discovery made in California in more than 35 years," said Dr. Ray R. Irani, Chairman and Chief Executive Officer of Occidental Petroleum Corporation.
[More...]

Form 4 OCCIDENTAL PETROLEUM For: Nov 16 Filed by: LIENERT JAMES M (10K)

Tue, 17 Nov 2009 23:51:00 GMT
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Form 4 OCCIDENTAL PETROLEUM For: Nov 10 Filed by: LIENERT JAMES M (10K)

Thu, 12 Nov 2009 22:51:00 GMT
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Form 4 OCCIDENTAL PETROLEUM For: Nov 10 Filed by: DE BRIER DONALD P (10K)

Thu, 12 Nov 2009 22:32:00 GMT
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Form 4 OCCIDENTAL PETROLEUM For: Nov 09 Filed by: IRANI RAY R (10K)

Thu, 12 Nov 2009 22:21:00 GMT
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Form 4 OCCIDENTAL PETROLEUM For: Jul 27 Filed by: CHAZEN STEPHEN I (10K)

Thu, 12 Nov 2009 22:14:00 GMT
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Form 4 DJEREJIAN EDWARD P For: Nov 04 (10K)

Thu, 05 Nov 2009 22:36:00 GMT
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Form 4 Abraham Spencer For: Nov 04 (10K)

Thu, 05 Nov 2009 22:34:00 GMT
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Form 4 TOMICH ROSEMARY For: Sep 01 (10K)

Thu, 03 Sep 2009 01:21:00 GMT
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Form 4 DE BRIER DONALD P For: Aug 21 (10K)

Tue, 25 Aug 2009 01:31:00 GMT
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Form 4 IRANI RAY R For: May 29 (10K)

Thu, 23 Jul 2009 01:34:00 GMT
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