Wednesday, August 12, 2026

Obama to Seek New Tax on Oil in Budget Proposal

From Reuters U.S. President Barack Obama will launch a long-shot bid next week to impose a $10-a-barrel tax on crude oil that would fund the overhaul of the nation’s aging transportation infrastructure, the White House said on Thursday. The proposed fee, which would be paid by oil companies and phased in over five years, was quickly met with scorn by

PetroQuest Energy’s Debt Exchange Works to Build Long-Term Value

On January 14, 2015, PetroQuest Energy (ticker: PQ) took appropriate steps addressing its current $350 million senior unsecured 10% high-yield issue (CUSIP 716748AA6) due in September 2017. PetroQuest will seek to offer to exchange up to $300 million of the $350 million for up to (i) $75 million of cash, (ii) $202.5 million aggregate principal amount of its newly issued

Saudi Arabia Cutting – Price, Not Production

Saudi Arabia continues its plan to protect market share Saudi Arabia today cut prices of its oil to customers in major markets including Europe, Asia and the Mediterranean in the hopes of defending its market share. The move is seen as a reaction to Iran’s return to global oil markets. Saudi Arabia discounted even its best-quality crude, similar in quality

Exploration and Production: Which Companies Shall Investors Not Worry About?

Pool of companies in Moody’s lowest credit rating grows; but risk of bankruptcy is minimal for a few standouts Continued pressure from low oil prices has prompted Moody’s Investor Service to put 264 companies in its lowest credit rating, just shy of a record high 291 in April 2009. The growing number of companies included in Moody’s lowest credit rating