Hints and tips:
...Mr Lance is sanguine. “We do believe a price recovery is coming,” he told the Financial Times this week....
...Mr Lance has remained bullish, however, expecting the market to turn as economies recover, the Opec cartel withholds crude production and consumers begin burning more oil....
...After the recent Chevron-Noble Energy deal and Devon Energy-WPX merger, Mr Lance’s acquisition of Concho Resources shows that the inevitable has arrived....
...Mr Purves and Mr Lance are firm value adherents — now more than ever....
...They rose 1.9m b/d in the two weeks to September 20. Some of the increase reflects seaborne barrels moving to onshore storage, often in China, Mr Halff said....
...US oil output more than doubled between 2010 and 2019, hitting a record high near 13m b/d before the pandemic struck....
...Mr Lance said: “We continue to execute and deliver on a plan that’s resilient to lower prices, while offering investors upside to higher prices....
...“In the latter part of 2017, we announced that we’d invest £10m a year in customer acquisition . . ....
...Mr Lance said: Our strategy is designed to generate superior returns through cycles by maintaining discipline, focusing on free cash flow and allocating this cash according to clear, shareholder-friendly...
...Mr Lappartient accused Sir Dave of “pouring oil on the fire” by directing his criticism at French fans. Sir Dave later apologised....
...Mr Looney said BP would sell its holding in the Greater Kuparuk Area, which had average production of around 108,000 b/d in 2017 through the namesake oilfield and several satellite ones, in order to focus...
...If the forecasts are right that the world will use about 100m b/d of oil next year, this curve implies that the oil price will be significantly above that band....
...Mr Lance said: “When these transactions close, proceeds will be used to accelerate our value proposition by significantly reducing debt, and increasing share repurchases over the next three years.”...
...“I’d like to hear one of them speak to and be more positive about Nafta. From 1994 to today, US trade to Mexico is up fourfold and Mexico trade with the US is up even more.”...
...This is where Mr Uggla hopes to persuade the doubters. “It would take me a decade to get even 5 per cent of their customer base,” says Mr Uggla....
...“I can see why Lance Armstrong was tempted.”...
...On Tuesday evening Xavier Rolet, the boss of the London Stock Exchange, will be presented with the prestigious Légion d’Honneur by Emmanuel Macron, France’s 38-year-old economy minister....
...“If someone has a squeaky clean image, the threshold for disgrace is lower than it would be for a hellraiser,” Mr Rackliffe explains....
...Mr Dukes said production from countries not in Opec was likely to drop this year, and the US would contribute a “supermajority” of that decline....
...“A reasonable working estimate is that oil supply will exceed demand by 1.5m b/d this year,” said Mr Hufton....
...Mr Mead favours a return to the ballot system, when survivors of a battle vote for the comrade who should receive the VC....
...I just wish we’d been more underweight.” One key problem for fund managers is that few saw the scale of this crash coming....
...Mr Lance said he expected Conoco’s spending to continue to slow down through the year. Conoco also reported a 12 per cent drop in underlying operating costs compared with the first quarter of 2014....
...Mr Lance said most US shale oil production would be uneconomic at an oil price of $40 per barrel. WTI ended Friday at about $46 per barrel. Other companies have raised similar concerns....
...Discussion of exercise raises the inevitable question about his relationship with the disgraced cyclist Lance Armstrong....
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