Oil companies slash spending, jobs as prices slide for second time Just days into the second-quarter earnings season, Chevron Corp and Royal Dutch Shell Plc said they would slash a combined 8,000 thousand jobs around the world. In North Dakota, Whiting Petroleum Corp, the top producer in the No. 2 U.S. oil patch, cut its capital expenditure budget days after optimistically raising it 15 percent on bets the renewed downturn in...
| By: Anna Driver
Juicy energy dividends Energy companies are reminding investors their dividends are safe, reports CNBC's Bob Pisani.
Futures hold lower amid GDP; Fed eyed U.S. stocks were tipped to open lower on Thursday, with focus turning to second-quarter economic growth data for clues on the timing of a rate rise.
| By: Dhara Ranasinghe
UPDATE 1-Conoco results beat estimates, cuts capex amid low oil price July 30- ConocoPhillips, the largest U.S. independent oil and gas company, reported quarterly results that beat analysts' expectations Thursday and said it would cut capital expenditure as low crude oil prices persist. The Houston- based company said it would cut 2015 capital spending to $11 billion from $11.5 billion, and also lowered its forecast for...
ConocoPhillips reports 2Q loss but tops Street expectations HOUSTON- ConocoPhillips lost $179 million in the second quarter, after booking a profit in the same period last year, as a sizeable drop in oil prices weighed on the energy company's results. ConocoPhillips countered some of the hit from oil prices by cutting expenses. Shares of ConocoPhillips edged down 3 cents to $52.87 in morning trading shortly after the...
Source: The Associated Press