Vantage Drilling: A Good Long-Term Bet
Vantage Drilling: A Good Long-Term Bet
Given the prospect of $4-plus gasoline this summer, what's an American to do? Beyond switching to a higher-MPG vehicle, you can consider buying some oil stocks with plenty of upside potential to help offset your pain at the pump. Here are five candidates.
Skyrocketing oil prices don't have to bring only pain. Investors can also find some relief with investments that can benefit from oil's recent -- and likely future -- increases. Here are some ETFs and mutual funds worth considering, based on performance, risk and cost.
Oil prices, up more than 25% since August, are testing the $90 per barrel level and appear to be headed higher -- into what the International Energy Agency calls 'a dangerous zone' for the global economy.
Marathon Oil, the fifth-largest oil refiner in the U.S., is spinning off its refining business into a new company called Marathon Petroleum.
One would think that BP's massive Gulf of Mexico oil spill this year would have given pause to the global oil industry, but that doesn't appear to be the case. Companies in the sector are planning to spend a record $490 billion in 2011, including a large amount for deep-water development.
Oil rose to the highest price in more than two years as cold weather in the U.S. and Europe stoked demand. U.S crude prices for January rose as high as $90.46, the highest since Oct. 2008, Reuters reported.
Global oil demand growth is expected to increase a little this year but slip in 2011 as fuel stockpiles surge and concern persists that economic growth could falter, the International Energy Agency said on Friday.
ExxonMobil's stock is trading at $60 a share -- just about where it was in March 2009 when the market plunged to its low. Even as oil has rebounded to $74 from $40 at that time, ExxonMobil still languishes. That could soon change.
Will there even be a BP as we now know it? The answers rest on several variables, most notably: continued asset sales, future litigation and efforts to restore the company's now-tattered public image. Its problems are only beginning.
Exxon Mobil's easily topped Wall Street forecasts in the second quarter, helped by a year-over-year jump in crude prices that allowed the world's largest publicly traded oil company to hike production. EPS hit $1.60, up from 81 cents a year ago.
Chevron Corporation (CVX) said that second-quarter results should be higher than in the first quarter, boosted by improvements in downstream results. Refining margins for U.S. West Coast crude was $16.30 a barrel in the second quarter through June, compared with $13.04 in the first quarter, the company said in a statement. Downstream results also benefited from the strengthening dollar.
Embattled BP CEO Tony Hayward traveled to Abu Dhabi to meet business partners, with rumors flying that the company is seeking to raise funds to help the company pay for the clean up operation in the Gulf of Mexico. Hayward arrived in the Emirati capital on Tuesday and plans to stay "a couple of days", company spokesman Andrew Gowers told The Associated Press. Gowers declined to comment on whether or not Hayward would be meeting with investment funds.
Some of Friday's top stories for investors, including oil stocks most likely to make a comeback, wedding stocks in time for June brides, and how Facebook is damaging Google.
Most of the 17 analysts who follow the energy giant still urge investors to buy its stock -- and none recommend dumping it. Twelve of the analysts rate BP a buy, and five recommend holding it. Will a federal criminal probe change their opinions?
European debt worries, the rising dollar and falling oil prices are conspiring to knock down oil company shares. But this trio could be getting whacked harder than they deserve -- especially if you don't believe the dollar will keep climbing.
Schlumberger is getting into energy M&A game. It has agreed to pay $11 billion in an all-stock purchase of Smith International. The deal is expected to close in the second half, but it could hit serious antitrust challenges along the way.