HEI- Energy headlines, a Monday recap

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Getty Images

Investors eyeing all the money to be made in energy

Hedge and private equity firms have been talking about all the money to be made in energy,and the investors are paying attention.

Deutsche Bank said that U.S. hedge fund clients like family offices, pensions and endowments are eyeing energy, and that there’s been an uptick in requests for meetings with energy-focused managers, including traditional hedge funds and mutual funds that invest in both debt and equity.

Oil rise as BP cuts capital expenditure

Oil futures rose on Tuesday, adding to gains of more than 11 percent in the prior two sessions as BP announced a cut in capital expenditure for 2015.

BP announced it would cut capital expenditure by 13 percent to $20 billion in 2015. Last week, Chevron announced a 13 percent cut in capital expenditure to $35 billion.

Conoco, BP, & Chevron partner for recent Gulf of Mexico discoveries

Houston-based ConocoPhillips (NYSE: COP), BP PLC (NYSE: BP), and Chevron Corp. (NYSE: CVX) are forming an alliance to develop oil projects in the Keathley Canyon region of the Gulf of Mexico.

The three oil giants are restructuring ownership interests in the deepwater Gulf to optimize recent discoveries and development for offshore oil exploration.

O&G lands Houston #1 on Forbes’ 2015 “America’s Fastest-Growing Cities” list

The shale oil boom is largely the reason Houston is number one on Forbes’ “America’s Fastest-Growing Cities” annual list adding more than 667,800 new jobs to the economy since 2005.

Known as the “Energy Capital of the World,” its 4.5 percent year-over-year job growth rate is among the fastest growing in the US. Read more…

OPEC’s secretary-general says oil prices may rise to US$200 a barrel

OPEC’s secretary-general said oil prices as high as US$200 a barrel are possible if producers fail to invest in new supply. Crude futures pared losses in London and New York. Read more…

O&G giant BP Freezes Workers’ Wages

UK-based BP (NYSE: BP), which has its US headquarters in Houston, announced Monday that it was freezing the wages of its 80,000 employees. The cutbacks come as oil prices hit a five-year low. Read more…

Crude oil prices have hope as supply & demand try to find market equilibrium

Over the past six months, crude oil prices have fallen more than 50 percent, pleasing consumers at the pump. The reason they are pleased is because the price of gasoline is below $2 for the first time in over five years. Yesterday, I passed a gas station here in Houston where it was $1.69 per gallon. Read more…

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