North American upstream companies affected by political upheaval in North Africa and the Middle East should be able to manage cash flow implications, Fitch Ratings said in a report. Higher crude price realizations, insurance recoveries and capital expenditure reductions should offset any cash flow issues, the report said. U.S.-based integrated companies with exposure are Chevron Corp., ConocoPhillips, ExxonMobil Corp. and Marathon Oil Corp. Independents include Anadarko Petroleum Corp., Apache Corp., Hess Corp., Occidental Petroleum Corp. and Pioneer Natural Resources Co. In addition, Canadian Natural Resources Ltd., Nexen Inc., Suncor Energy Inc. and Murphy Oil Corp. have operations in the region, Fitch said.
Africa
Articles from Africa
Seasonal Low? Futures Rally Ahead of Weekend
With a parade of storms coming off the coast of Africa at a frenetic pace, one theory is that natural gas futures traders — much like they did the previous Friday — took to covering their short positions ahead of the weekend to limit their risk (see Daily GPI, Sept. 7). However, another leading idea is that futures have hit a seasonal bottom and are ready to explore higher prices.
September 13, 2010
WSI Again Trims Hurricane Forecast
Despite the presence in the central Atlantic of the year’s fourth named storm and a high probability that an area of low pressure off the coast of Africa could form into another tropical cyclone, Andover, MA-based WSI Corp. has for the second time this summer lowered the number of hurricanes in its 2010 Atlantic hurricane forecast.
August 25, 2010
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