Reacting to today’s events won’t get ExxonMobil Corp. where it wants to go in the next 10-15 years, CEO Rex Tillerson said Thursday. Instead, spending for the long haul on major projects will keep the major ahead of its peers, he told investment analysts at the company’s annual presentation at the New York Stock Exchange.
Reacting
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Spend Through the Cycle for Long Term, Says ExxonMobil
Reacting to today’s events won’t get ExxonMobil Corp. where it wants to go in the next 10-15 years, CEO Rex Tillerson said Thursday. Instead, spending for the long haul on major projects will keep the major ahead of its peers, he told investment analysts at the company’s annual presentation at the New York Stock Exchange.
Spend Through the Cycle for Long Term, Says ExxonMobil
Reacting to today’s events won’t get ExxonMobil Corp. where it wants to go in the next 10-15 years, CEO Rex Tillerson said Thursday. Instead, spending for the long haul on major projects will keep the major ahead of its peers, he told investment analysts at the company’s annual presentation at the New York Stock Exchange.
Anadarko Sees More Potential in NGLs Until Prices Strengthen
Anadarko Petroleum Corp. is “cautiously optimistic” about natural gas prices, but drilling activity will be managed by following cash prices and reacting to what’s happening in the “real market” before spending more than cash flow, CEO Jim Hackett said last week.
Anadarko Sees More Potential in NGLs Until Prices Strengthen
Anadarko Petroleum Corp. is “cautiously optimistic” about natural gas prices, but drilling activity will be managed by following cash prices and reacting to what’s happening in the “real market” before spending more than cash flow, CEO Jim Hackett said Tuesday.
WA Congressman Opposes Columbia River LNG Project
Reacting to a U.S. Coast Guard report on river waterway suitability, a local congressman stepped out Monday to oppose NorthernStar Natural Gas Co.’s proposed liquefied natural gas (LNG) receiving terminal at Bradwood Landing on the Oregon side of the Columbia River. With a district in southwest Washington that borders parts of the proposed facility’s shipping lanes, Rep. Brian Baird (D-WA) said a recently released waterway suitability report provides “enough compelling evidence” to oppose the LNG terminal.
CA Governor Slams U.S. Senate Coastal Drilling Bill
Reacting quickly and pointedly on an issue that is bipartisan in his state, California Gov. Arnold Schwarzenegger late Tuesday came down hard in opposition to the U.S. Senate’s passage of the Domenici-Martinez-Landrieu bill on coastal oil/gas drilling (SB 3711). Schwarzenegger has made his opposition to coastal drilling a linchpin of his reelection campaign.
Frist Directs Senate Panels to Pick Up Pace on Energy Initiatives
Reacting in part to recent House action on energy legislation, Senate Majority Leader Bill Frist (R-TN) has called on the chairmen of four committees to step up the pace and deliver new energy measures by July 14.
Screen, Fundamental Weakness Drag Prices Lower
Reacting to large drops in energy futures the day before and finding little support from weather-related demand, cash prices fell by double-digit amounts at all points Wednesday. The declines ranged from a little more than a dime to about 35 cents, with all but a few hitting 20 cents or more.
Prices Crater With Dollar-Plus Dips at All Points
Reacting primarily to the previous day’s meltdown in energy futures, with a side nod to the general lack of substantive weather-related load outside the northern half of the West and to overflowing storage inventories, the cash market was in massive retreat Thursday. Losses exceeded a dollar across the board, with many points falling more than a dollar and a half.