oil industry

In recent news, Exxon Mobil Corp. (NYSE:XOM) is said to be in the midst of finalizing a takeover deal with Pioneer Natural Resources Co. (NYSE:PXD). The speculated transaction could see shares of Pioneer being purchased for more than $250 each. What Happened: As reported by Bloomberg, the all-stock...

The first quarter of 2023 was positive for the U.S. stock market as a whole, with the S&P 500 index faithfully tracked by the SPDR S&P 500 ETF Trust (ARCA: SPY), rising by 6%. Nevertheless, there are some differences in performance within sectors, with technology represented by...

The auto industry is on the road to revolution. Bernstein gives 30 years before electric batteries replace internal combustion engines as the on-road standard. Loup Ventures bets on 20. The timeline is in dispute, but analysts agree on one thing: sooner or later, change will come. And when it does...

In a pair of new reports, analysts at Morgan Stanley and Credit Suisse take a close look at the unpredictable global oil market. WTI oil prices nearly doubled from their 2016 low of $26.05/bbl back in February to their 2016 high of $51.67 in June. However, since the June peak, prices slumped as low...

Four years ago this month, BP's (NYSE: BP) Deepwater Horizon oil rig exploded. The accident killed 11 people, injured 17 more and sent oil gushing into the Gulf of Mexico. For three months, engineers struggled to stop the leak. When they finally succeeded, millions of barrels of oil had poured...

The next frontier for big oil is just across the U.S. border, in Mexico. As Bloomberg recently reported, the prospect of up to $20 billion a year in foreign investment prompted the Mexican Congress to overturn a 75-year old law banning foreign oil companies from drilling in the country. If...