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Here’s how much the biggest companies will make in the Leap Second
Tuesday, June 30, will be exactly one second longer than the typical day. That’s thanks to the “leap second,” which gets added on to a day every now and again to compensate for a constant gravitation...
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Fed meeting, Greek talks, and Facebook — 5 things to know this week
Hello friends and Fortune readers. The markets this week will be waiting and watching as leaders from the Federal Reserve meet for the last time before September, when a rate hike could finally become...
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Here’s why oil giant Shell is slashing thousands of jobs
There was no sugar coating on Shell’s earnings report Thursday: “Today's oil price downturn could last for several years,” the company said. In reporting a 25% decline in net income in the second...
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Spain’s Repsol is the latest victim of weak oil prices
The uncertain outlook for oil prices has claimed yet another major energy player. Spanish oil producer Repsol says it will divest $7.1 billion of assets and cut spending in oil-exploration projects. In...
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Apple’s earnings, baseball, and a Fed meeting — 5 things to know this week
Hello friends and Fortune readers. This week, the market’s eyes turn once again to the leaders of the U.S. Federal Reserve who will meet to set the nation’s monetary policy for the second-to-last time...
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Valeant and Big Oil earnings — 5 things to know today
Hello friends and Fortune readers. Wall Street stock futures are mixed after the Bank of Japan appeared to give up on its attempts to revive the Japanese economy with more quantitative easing (see...
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5 Energy Trends to Watch in 2016
This year was a big one for energy news. Ultra-low oil prices, coal plant closures, a landmark climate change deal in Paris, and records set for global solar projects all signaled a continued massive...
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For Oil Companies, It’s a Year of Slashing Costs and Jobs
Over the past several weeks, the world’s biggest oil companies have posted earnings that show just how brutal it is these days to be an oil major. The industry is going through the biggest downturn...
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Here’s Why Chevron Is Slashing Its Budget
Oil and natural gas producer Chevron cvx said on Tuesday it will slash its budget by at least 17% for the next two years to save cash as crude prices sit near 10-year lows. The outlook from one of the...
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There Will Be More New Jobs in Solar Than Oil by the End of the Year
The world’s biggest oil companies are slashing jobs to cope with decreasing revenues, and one knock-on effect has been the drop in oil job postings. Conversely, however, if the current pace of postings...
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Oil Glut Continues to Tank Prices
The world’s top oil companies are set to report their worst quarterly results yet in the current downturn but a recent recovery in crude prices is raising hopes the market has bottomed out. An ever...
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Why Chevron Shares Are Down Today
Oil and gas producer Chevron cvx on Friday posted an adjusted profit that fell short of Wall Street’s expectations, as its cost cuts failed to fully offset low crude prices and weak refining margins....
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Chevron Drives Oil Companies and Kazakhstan to Boost Oil Production in a...
Kazakhstan and a group of oil companies led by Chevron cvx have approved a $36.8 billion plan to boost production at the Central Asian country’s Tengiz field, a rare major investment in an industry hit...
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Chevron Just Had Its Largest Quarterly Loss in 15 Years
Chevron cvx , the second largest U.S.-based oil producer, posted a second-quarter loss on Friday, its largest since 2001, due to the slump in crude prices and refining income. While the adjusted...
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This Is Why Oil Firms Suffered Another Awful Earnings Season
Many of the world’s biggest oil companies continue to feel the pain as low oil prices continue to undercut profits and lead to shuttered projects and layoffs. Exxon, Royal Dutch Shell, Statoil, BP, and...
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Attorney Who Took Chevron to Court for $18 Billion Suspended by Amazon...
The celebrated Ecuadorian attorney who collected a CNN Hero award in 2007, a Goldman Environmental Prize in 2008, and a hagiographic 13,000-word profile in Vanity Fair that same year, was “suspended”...
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Chevron Is Shedding Huge Assets in Asia
Chevron cvx , the second-largest U.S. oil company, is selling some assets in Asia worth up to $5 billion, the Wall Street Journal reported, citing people familiar with the matter. The company is set to...
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Chevron Wins Major Ruling in $8.6 Billion Ecuador Pollution Case
Chevron cvx persuaded a federal appeals court on Monday to block enforcement in the United States of an $8.65 billion Ecuadorean pollution judgment that it said, and which the court agreed, was...
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Here’s Why Ecuador’s $9.5 Billion Judgment Against Chevron Is Headed to Canada
The rumble in the jungle over a decades-old environmental disaster in the Amazon allegedly caused by Chevron is about to get noisy again. This week, the Ecuadorians suing the oil giant take their case...
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How Oil Majors Adapted to Lower Prices and Beat Earnings Expectations
Royal Dutch/Shell and BP on Tuesday joined peers in reporting higher than expected earnings by making further deep cuts in spending to cope with an oil price downturn now in its third year. Shell’s...
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