National Oilwell Varco (ticker: NOV) reported a first quarter 2018 net loss of $68 million, or $(0.18) per share. Revenues for the first quarter were $1.8 billion, a decrease of 9% compared to the fourth quarter of 2017 and an increase of 3% from the first quarter of 2017. Operating loss for the first quarter of 2018 was $1 million,
Superior Drilling Products, Inc. (ticker: SDPI) had a net loss of $786 thousand in Q4 2017, or $(0.03) per share. For 2017, the company had a net loss of $279 thousand, or $(0.01) per share. Superior reduced debt by $3.9 million, or 23%, down to $12.8 million – compared to 2016’s debt of $16.7 million. Superior Chairman and CEO Troy
CB&I (ticker: CBI) won a contract for more than $95 million from the Aramco-Shell JV – Saudi Aramco Shell Refinery (SASREF). The scope of work includes the engineering, procurement and construction management for SASREF’s modernization and expansion of its existing refinery in Al-Jubail city, Saudi Arabia. “The relationship between CB&I and SASREF extends back for more than a decade, and
ISIS is losing territory and revenue, down 60%, 80% Three years after Islamic State leader Abu Bakr al-Baghdadi declared the ‘Caliphate’, the terrorist group known for its extreme brutality has lost more than 60 percent of its territory and 80 percent of its revenue, according to new analysis released today by IHS Markit. Governance project has failed The Islamic State’s caliphate
U.S. missile strike on Syria has some wondering about the return of a risk premium Crude futures jumped as much as 2% after the U.S. military attacked the Shayrat air base near Homs with Tomahawk missiles in response to Syria’s alleged use of chemical weapons during an air attack Tuesday on a rebel-held area. The attack was the most significant
Middle East Oil will account for Most of the World’s Demand Growth IEA Believes An updated analysis from the International Energy Agency (IEA) has determined that the current oil price environment has boosted the share of oil produced in the Middle East. At 31 million barrels per day, the region now accounts for 35% of global oil supplies, the highest
After Paris: U.S. and Russian air strikes target ISIS’s $50 million monthly oil revenues As the battle against ISIS continues, allied forces are increasingly targeting oil assets and the convoys of trucks being used to smuggle oil from ISIS-controlled oilfields. The idea is to cut off the major source of funding for the Islamic State’s barbaric terrorist activities. It is
Preng & Associates President David Preng appeared on Fox Business News’ Opening Bell to discuss unintended consequences of the so-called U.S./OPEC market share battle, and how current management teams and boards are managing through the current commodity cycle.
View PDF of Slides – Download the Source Video File If you glance through both recent and past editions of Bloomberg’s Analyst Rankings, a familiar name appears on many of the lists. Michael Carey, Chief Economist (North America) for Credit Agricole Corporate and Investment Bank, is recognized by Bloomberg as one of the top macroeconomic forecasters and is the second-best forecaster of
View PDF of Slides – Download Video File The Middle East is filled with countries that have complex energy policies that affect the whole globe. Many of them work together in the Organization of Petroleum Exporting Countries to make decisions felt throughout the world energy sector, but they all have their own concerns as well. To help us better understand energy policy in
President Obama addressed the nation on Wednesday night, urging Congress to increase funding, assistance and conduct “a series of strategic airstrikes” against the Islamic State, or ISIL, the group marching across Iraq that recently beheaded two American journalists on Internet broadcasts. The President vowed to support the Iraqi government by providing military training and supplies, but stopped short of placing
CNN reported today that ISIS has taken over six Syrian oil and gas fields, as well as al-Omar, “Syria’s largest oil facility that can produce 75,000 barrels of oil a day.” Pakistan’s Dawn News reported that one of the oil fields taken over was Tanak, located in the Sheiytat desert area in the east of Deir Ezzour province, according to
