Forecast & Analysis

Baker Hughes: Weekly US Gas Rig Count Declines To 777

NEW YORK (Dow Jones)--The number of natural gas drilling rigs working in the U.S. fell by 3 in the latest week, to 777, oil-field-services company Baker Hughes Inc. (BHI) said Friday. The gas rig count was down 136 from a year ago... Full Story

Chevron Expects No Production Growth In 2012

(Dow Jones) Chevron's (CVX) 4Q EPS miss is the main reason shares are down 2.6%, but the company's forecast that it expects no production growth this year is also hurting the stock. The oil giant forecast 2012 production of 2.68 Mboe/d, assuming $111/barrel oil/d. That's barely changed from the 2... Full Story

WSJ(1/27) Column: No Need To Panic About Global Warming

(From THE WALL STREET JOURNAL) Editor's Note: The following has been signed by the 16 scientists listed at the end of the article: A candidate for public office in any contemporary democracy may have to consider what, if anything, to do about "global warming... Full Story

US GDP Report Disappoints, Bodes Poorly For Obama

By Peter Morici Preliminary estimates indicate gross domestic product growth was a disappointing 2.8% in the fourth quarter--analysts had expected 3.0%. A huge jump in inventories accounted for 65% of all growth, indicating perilous overstocking... Full Story

Oil Markets Seen Withstanding Iran Attack Shock in Global Investor Survey

By Indira A.R. Lakshmanan - Jan 27, 2012 More than 70 percent of investors said an attack on Iran’s nuclear facilities would create only a short-term disruption in oil markets, according to a quarterly Bloomberg Global Poll... Full Story

Banks' Zero-Tolerance Tested By Fed

By David Reilly A DOW JONES COLUMN Just wait until rates rise. That has been the refrain for some time from a host of financial firms groaning under the weight of zero interest rates... Full Story

Top News Stories

Iranian Lawmakers to Debate Halt of Oil Sales to Europe as EU Sets Embargo

By Caroline Alexander - Jan 27, 2012 Iranian lawmakers will debate a bill requiring an immediate halt of Iran’s oil exports to Europe, the state-run Fars news agency said, in a response to a European Union ban on importing on Iranian crude that is to start in July... Full Story

Nigerian Court Sacks Five Ruling Party State Governors

ABUJA, Nigeria (AFP)--Nigeria's Supreme Court Friday sacked five ruling party state governors for over-staying their positions in a move that has added to confusion in a nation reeling under security woes... Full Story

EU Banks Withdrawing From Financing Iran Grain Finance

By Neena Rai and Benoit Faucon Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Major European banks, including Rabobank, have halted trade finance for grain or any agricultural products bound for Iran, European banks and traders told Dow Jones Newswires Friday... Full Story

Iran Oil Export Curbs Extend to 95% of Tankers in Europe’s Insurance Rules

By Isaac Arnsdorf - Jan 27, 2012 European Union sanctions on Iranian oil will extend to about 95 percent of tankers because they are insured under rules governed by European law... Full Story

WSJ: Obama Touts Natural Gas As Transportation Fuel

By Laura Meckler and Keith Johnson Of THE WALL STREET JOURNAL LAS VEGAS (Dow Jones)--Working to advance his "all of the above" energy strategy, President Barack Obama embraced natural gas as a transportation fuel on Thursday, saying it is cleaner and cheaper than oil, and much... Full Story

EU May Tap Oil Reserves After Iran Embargo Imposed in July, Oettinger Says

By Jacqueline Simmons and Ewa Krukowska - Jan 26, 2012 Some European Union countries may tap their strategic oil reserves after an EU embargo cuts Iranian exports from July, the bloc’s Energy Commissioner Guenther Oettinger said... Full Story

Financial

US GAS: Futures Rebound As February Contract Expires

By Jerry A. DiColo Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Natural gas futures rose Friday, rebounding on the last day of trading for the February contract on signs colder weather could be ahead for parts of the U.S. Natural gas for February delivery settled 7... Full Story

OIL FUTURES: Gasoline Surges To Highest In 5 Months; Oil Flat

By Dan Strumpf Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Gasoline futures surged to their highest level in five months Friday, even as crude-oil futures were little changed, after a key gasoline unit was taken off line at a New Jersey refinery... Full Story

Futures Signal Coming 10c-25c Rise At Gasoline Pump

(Dow Jones) National average gasoline pump prices, already at highest-ever January levels, soon may rise by 10c to 25c, based on a jump in futures prices. Nymex February gasoline futures hit their highest level since Aug... Full Story

Oil Increases This Week as Gasoline Surges, Greece Nears Debt Agreement

By Moming Zhou and Mark Shenk - Jan 27, 2012 Oil climbed this week as gasoline jumped to the highest level since August and amid signs Greece is near an agreement with its creditors. Futures rose 1... Full Story

US GAS: Futures Down As Traders Focus On Mild Weather

By Jerry A. DiColo Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Natural gas futures fell Friday as milder temperatures and modest U.S. inventory declines are expected over the next several weeks. Natural gas for February delivery fell 2.5 cents, or 1%, to recently trade at $2... Full Story

OIL FUTURES: Crude Little Changed After US 4Q GDP Data

By Dan Strumpf Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Oil futures fluctuated around $100 a barrel Friday after the U.S. government said the economy grew 2.8% in the fourth quarter... Full Story

Releases

Marathon Oil Corporation Announces Increase in Quarterly Dividend

HOUSTON, Jan. 27, 2012 - Marathon Oil Corporation (NYSE: MRO) announced today that the Company's board of directors has approved a 13 percent increase in the quarterly dividend payable on Marathon Oil Corporation common stock, resulting in a new quarterly dividend rate of 17 cents per share... Full Story

Petroplus Files For Insolvency In Switzerland, Belgium

LONDON (Dow Jones)--Petroplus Holdings AG (PPHN.EB) said Friday insolvency proceedings have been filed for the troubled Swiss-based independent refiner and its subsidiaries in Switzerland and Belgium... Full Story

Chevron 4Q Net Falls 3.2%; Refining Arm Posts Loss

By Isabel Ordonez Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--Chevron Corp. (CVX) said Friday fourth-quarter earnings fell 3.2% as its refining arm swung to a loss, widely missing Wall Street expectations and overshadowing a large addition of new oil and gas reserves... Full Story

E.ON Confirms Talks To Sell Stake In Regional Energy Provider

FRANKFURT (Dow Jones)--E.ON AG (EOAN.XE)--Germany's largest utility by market value--said Thursday it has begun "exploratory talks" to discuss the possibility of a sale of its majority stake in a regional energy provider to local municipalities. In a written statement, E... Full Story

Colombia to Get $10 Billion in Mining, Energy Investments, Cardenas Says

By Heather Walsh and Alaa Shahine - Jan 26, 2012 Colombia, South America’s third- largest oil producer, expects about $10 billion in international investment in crude, mining and energy projects this year, Mines Minister Mauricio Cardenas said... Full Story

Exxon Mobil Corporation Declares First Quarter Dividend

IRVING, Texas--(BUSINESS WIRE)--January 25, 2012-- The Board of Directors of Exxon Mobil Corporation (NYSE:XOM) today declared a cash dividend of 47 cents per share on the Common Stock, payable on March 9, 2012 to shareholders of record of Common Stock at the close of business on February 10,... Full Story

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