Exxon notes flexibility of investments

Daniel J. GraeberNEW YORK, March 2 (UPI) — Exxon Mobil said Wednesday it has room to adjust its investment program even after it outlined spending plans for the year at 25 percent below 2015 levels.



Tullow Oil may do OK, Moody’s says

Daniel J. GraeberLONDON, March 2 (UPI) — The outlook for Africa-focused Tullow Oil is negative, though the company may recover on the back of new Ghanaian operations, Moody’s Investors Service said.


Canada’s Nexen reducing headcount

Daniel J. GraeberCALGARY, Alberta, March 2 (UPI) — A Canadian subsidiary of China National Offshore Oil Corp. said it was reducing its headcount as the industry works through a weakened oil economy.


Statoil to explore offshore Ireland

Daniel J. GraeberSTAVANGER, Norway, March 2 (UPI) — Following a successful 2015 auction, Norwegian energy company Statoil said it was building a better position in the emerging reserve potential offshore Ireland.




Oil rally continues momentum

Daniel J. GraeberNEW YORK, March 1 (UPI) — Crude oil prices started Tuesday on pace for another round of solid gains as Chinese markets rally in response to Beijing’s latest stimulus efforts.