[All] Oil price plunges:: Impacts on oil producers

[Louisette Lanteigne]

Hi folksToday is the day most North American oil firms finalized their 4th quarter results for 2014 and this reflects the time when oil dropped down 50-60% in price. Here are the results: 
Chevron (CVX) posted a loss of 0.68% to $103.00 a share http://www.equities.com/editors-desk/stocks/market-movers/chevron-cvx-among-biggest-djia-losers-on-january-29#sthash.qZAhN8iU.dpufCanadian Oil Sands fourth-quarter profit dropped 87% due to lower oil prices http://uk.reuters.com/article/2015/01/29/canada-canadian-oil-results-idUKL1N0V83KJ20150129
National Post wrote: Canadian Oil Sands Ltd cuts dividend by 75% amid ‘prolonged period of low prices’  http://business.financialpost.com/2015/01/29/canadian-oil-sands-ltd-reduces-dividend-by-86-its-biggest-cut-since-1998/#
Shells fourth quarter net income fell 57% to US$773 million. Now cutting spending by 15 Billion http://business.financialpost.com/2015/01/29/oil-plunge-smokes-shells-profits-and-now-the-energy-giant-is-slashing-spending-by-us15-billion/#
ConocoPhillips 59% price drop in adjusted net earnings due to cheap oil. http://www.ft.com/intl/fastft/269592/conocophillips-q4

BP fourth quarter net income fell 57% http://www.stockhouse.com/news/newswire/2015/01/29/hit-by-oil-price-slump,-shell-(rds-b)-slashes-investment-by-$15-billion#4de8bdHvL63WZkru.99
BP confirms layoffs at Houston office after selling $43 billion in divestments 
http://www.khou.com/story/news/local/2015/01/28/bp-confirms-layoffs-at-houston-office/22491741/
Imperial Oil Ltd. will announce its results on Monday, Suncor Energy Inc. on Wednesday, Talisman Energy on Feb. 10, and Cenovus and Husky two days later. Canadian Natural Resources Ltd. results are not due till March 11.  
Imperial is considering selling off 500 gas stations http://www.ctvnews.ca/business/imperial-oil-evaluating-future-of-its-esso-gas-stations-1.2210445

Have a good one
Lulu 
 
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