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☆ These oil companies could be the next takeover targets in Permian Basin after Diamondback deal
▼ + stars: | 2024-02-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

Diamondback Energy took one of the last major, privately held operators in the Permian off the table this week when it agreed to buy Endeavor Energy Resources for $26 billion. The deal is poised to catapult Diamondback into the top tier in the Permian, the most prolific oil patch in the U.S. that stretches from western Texas into southeastern New Mexico. The top six companies in the Permian are set to own 62% of the basin's remaining oil reserves, according to Rystad Energy. The stubborn holdouts After the Diamondback-Endeavor and Occidental-CrownRock deals, the only other major privately held producers left in the Permian are Continental Resources and Mewbourne Oil. Conoco could potentially seek to acquire Permian Resources , Civitas , Coterra, Vital Energy or Ovintiv , Bernstein said.

Persons: Matthew Bernstein, Bernstein, Hess, Andy Lipow, Neal Dingmann, Mewbourne, Dingmann, Ovintiv, Enerplus, Bob Yawger, Yawger, weren't, Ryan Lance, Lance, Conoco, EOG Organizations: Diamondback Energy, Endeavor Energy Resources, Diamondback, Exxon Mobil, Chevron, Rystad Energy, Truist Securities, CRFA Research, Endeavor, CNBC, Exxon, Natural Resources, Occidental, Lipow Oil Associates, Resources, Mewbourne, Continental, Publicly, Civitas, Coterra, Vital Energy, Devon Energy, Marathon Oil, Bloomberg News, Marathon, Reuters, CFRA, ConocoPhillips, Mizuho Locations: U.S, Texas, New Mexico, Guyana, Devon, Bakken, North Dakota, Occidental, Mizuho Americas, Marathon

☆ U.S.-Led Coalition Blocks Attacks at Conoco Oil Field in Syria -Source
▼ + stars: | 2024-02-10 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

BEIRUT (Reuters) -Air defence systems operated by U.S.-led coalition troops based in eastern Syria halted six drone attacks targeting their base at the Conoco oil field on Saturday, a security source said. The source did not tell Reuters if there were casualties. Coalition troops and the Kurdish-led Syrian Democratic Forces (SDF), who together fight remnants of the Islamic State group, have faced increased attacks by Iran-backed groups in Syria and Iraq since Hamas’s attack against Israel on Oct. 7. Another drone attack blamed on Iran-backed groups on a border outpost in Jordan killed three U.S. soldiers. Photos You Should See View All 21 Images(Reporting by Orhan Qereman; Writing by Maya Gebeily; Editing by Andrew Cawthorne)

Persons: Mazloum Abdi, Orhan Qereman, Maya Gebeily, Andrew Cawthorne Organizations: U.S, Reuters, Coalition, Syrian Democratic Forces, Islamic State Locations: BEIRUT, Syria, Kurdish, Iran, Iraq, Israel, Gaza, U.S, Jordan

☆ US destroyed or damaged 84 of 85 targets in Iraq and Syria, officials say; no indications of Iranian casualties
▼ + stars: | 2024-02-04 | by ( Oren Liebermann | Natasha Bertrand | ) edition.cnn.com time to read: +2 min

CNN —The US destroyed or damaged 84 out of 85 targets in its sweeping series of airstrikes on Friday in Syria and Iraq, according to two US defense officials, with no indications of Iranian casualties. All but one of the 85 targets were “destroyed or functionally damaged,” the officials said, citing a preliminary battlefield damage assessment. In Iraq, the US targeted al-Qaim and Akashat near the border with Syria. President Joe Biden and Defense Secretary Lloyd Austin said the strikes, far larger than previous US operations in Iraq or Syria, were only the start of the US response. The attack consisted of two rockets launched against the site, with no injuries or damage reported.

Persons: Deir, Douglas Sims, ”, Biden, Sims, Joe Biden, Lloyd Austin, Jake Sullivan, CNN’s Dana, Sullivan Organizations: CNN, Islamic Revolutionary Guard Corps, Joint Staff, Defense, Union, US Locations: Syria, Iraq, Jordan, Iran, Akashat, al, Gen, “ State

☆ These Seven Tech Stocks Are Driving the Market
▼ + stars: | 2024-01-22 | by ( Karl Russell | Joe Rennison | ) www.nytimes.com time to read: +8 min

These Seven Tech Stocks Are Driving the MarketThe S&P 500 is at a new high, and investors have just a handful of stocks to thank for it. Market value of S&P 500 companies These seven companies account for 29% of the S&P 500’s market value Alphabet $1.8 tril. Amgen Linde Qualcomm Intel Pfizer These seven companies account for 29% of the S&P 500’s market value Market value of S&P 500 companies Thermo Fisher Scientific McDonald's Cisco Sys. Berkshire Hathaway UnitedHealth Costco These seven companies account for 29% of the S&P 500’s market value Market value of S&P 500 companies Thermo Fisher Scientific Abbott Labs. Indeed, based on price alone, the seven big tech stocks were not the best performing in the S&P 500.

Persons: Jan, it’s, Berkshire Hathaway Tesla, Health Eli Lilly, Johnson Procter, Netflix Walt Disney, Amgen Linde, Wells, Merck Mastercard Eli Lilly Johnson, Johnson, JPMorgan Chase, Berkshire Hathaway, Wells Fargo Walt Disney Pfizer Amgen, Phillips Goldman, Mastercard Eli Lilly Abbvie Johnson, Chase Organizations: Apple, Meta, Microsoft, Nvidia, Tesla, Berkshire, JPMorgan Chase United, Health, Broadcom Johnson, Gamble Exxon Mobil Home Depot Mastercard Costco Walmart Oracle Merck Accenture, Mobile Wells Fargo PepsiCo Comcast, Intuit, Fisher, Netflix Walt, Netflix Walt Disney Cisco Sys, Verizon Abbott Labs, Amgen, Amgen Linde Qualcomm Intel Pfizer, Cisco Sys, Abbott Labs, Accenture Netflix Linde Intel PepsiCo Oracle Walmart, Wells Fargo Walt Disney Qualcomm, Mobile Comcast Intuit, Verizon, Pfizer, Merck Mastercard, Johnson Nvidia, Visa Exxon Mobil Apple, Broadcom, JPMorgan, JPMorgan Chase Procter, Gamble, Costco, Fisher Scientific Abbott Labs, Cisco Systems Accenture PepsiCo, Netflix Linde Intel Oracle Walmart, Wells Fargo Walt Disney Pfizer, Mobile, Comcast Intuit Verizon Qualcomm Amazon, Merck Uber Tech, P Global American, Phillips Goldman Sachs IBM UPS Honeywell Boeing, Mastercard, Adobe Exxon Mobil Apple, Broadcom Chevron Home, Micro Devices, Chase Procter, Berkshire Hathaway UnitedHealth Bank of America Costco, Royal, General, Amazon, Big Tech, IBM, Exxon, General Electric, & & + + + Locations: Berkshire, Royal Caribbean

Darren Woods, CEO of ExxonMobil, speaks at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S., November 15, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsHOUSTON, Nov 29 (Reuters) - Exxon Mobil Corp (XOM.N) Chief Executive Darren Woods is making plans to attend the COP28 climate summit in Dubai next week, two people familiar with the matter said, in what would mark a first for an Exxon CEO, if confirmed. Woods is expected to advocate that reducing carbon emissions should be a priority in addressing climate change, rather than reducing oil production. "We commit to solving the world’s energy and emissions challenges simultaneously," Darren Woods said at the APEC CEO summit earlier this month. Exxon says technology advancements allowed it to join the initiative and that the decision guards no relation with Pioneer's acquisition.

Persons: Darren Woods, Carlos Barria, Woods, Sultan al, Jaber, Exxon's, Matt Kolesar, Sabrina Valle, Sarah McFarlane, Josie Kao, Aurora Ellis Organizations: ExxonMobil, Economic Cooperation, REUTERS, Rights, Exxon Mobil Corp, Exxon, APEC, Abu, Abu Dhabi National Oil Company, United, Natural Resources, Gas Methane Partnership, Reuters, United Nations Environment Programme, Shell, BP, Conoco, Chevron, Thomson Locations: Asia, San Francisco , California, U.S, Dubai, Abu Dhabi, United Nations, OGMP, Occidental

☆ Exclusive: ConocoPhillips weighs CrownRock bid to challenge rivals
▼ + stars: | 2023-10-26 | by ( David French | ) www.reuters.com time to read: +2 min

CrownRock's investment bankers have asked interested parties to submit initial offers next week, two of the sources added. Diamondback Energy (FANG.O), Devon Energy (DVN.N), Marathon Oil (MRO.N) and Continental Resources are also studying potential bids for CrownRock, the sources said. The company is led by Texas billionaire businessman Timothy Dunn and backed by private equity firm Lime Rock Partners. Bloomberg News reported last week that Devon was considering a bid for CrownRock, and that Devon has also held preliminary talks about a tie-up with Marathon. Reporting by David French in New York; Editing by Greg Roumeliotis and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, CrownRock, Timothy Dunn, Conoco, Devon, David French, Greg Roumeliotis Organizations: ConocoPhillips, REUTERS, Houston, Exxon Mobil Corp, Chevron Corp, Diamondback Energy, Devon Energy, Continental Resources, CrownRock, Marathon Oil, Continental, Diamondback, Exxon, Natural Resources, Chevron, Hess Corp, Lime Rock Partners, EOG Resources, Devon, Bloomberg News, Marathon, Reuters, Thomson Locations: Vancouver , British Columbia, Canada, Texas, Conoco, Devon, Midland, Marathon, New York

☆ Fact Check: 2019 image shared as October attack on US military base in Syria
▼ + stars: | 2023-10-25 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A photo of explosions from shelling by U.S.-backed forces in Syria in 2019 has been miscaptioned online as showing an October 2023 attack on a U.S. military base in Syria. However, the circulating image does not show the reported October 2023 attacks on U.S. military bases. Posts on social media shared an image of a blast from a distance claiming to show attacks on U.S. military bases in northwestern Syria, described as a “massive explosion at the base located in the Al-Omar oilfield”. The U.S.-backed Syrian Democratic Forces (SDF) attacked the Islamic State’s Baghouz enclave on March 10, 2019. The image of an explosion dates back to a U.S. attack against Islamic State in Syria in 2019, not an attack on a U.S. military base in October 2023.

Persons: Al, Omar, Zor, Delil Souleiman, Read Organizations: U.S, Hamas, Reuters, Getty, Islamic, Syrian Democratic Forces, SDF, Thomson Locations: Syria, Iran, Iraq, Iranian, Israel, Palestinian, U.S, Deir, Zor, Lebanon, Al, Deir al, AFP, Islamic State, Syrian, Baghouz

☆ Jim Cramer says there is a bull market in oil and gas thanks to recent big mergers
▼ + stars: | 2023-10-23 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday said he sees a bull market in oil and gas. He said oil stocks are increasing in value thanks to two major oil company mergers as well as the rising price of crude. "I'd argue that there's always a bull market somewhere and right now it's in the oil and gas cohort group," Cramer said. Chevron announced Monday it would buy Hess in a deal worth $53 billion. These recent mergers reminded Cramer of oil takeovers in the early 1980s, when he said major companies realized "it was cheaper to drill for oil on Wall Street than in the ground."

Persons: CNBC's Jim Cramer, there's, Cramer, Hess Organizations: Chevron, Exxon Mobil, Natural Resources

The auction could start a new chapter for the 113-year-old company, which has been owned by Venezuela for almost 40 years. Washington and Venezuela's political opposition wanted Citgo to anchor the country's economic future under a democratically elected government. The sale could become the biggest court auction ever held. Motiva, Valero and Citgo's ultimate parent, Venezuela's state oil company PDVSA, did not reply to requests for comment. "Citgo will be strategic for Venezuela in the next 20-25 years, not only as a refining company, but with an expanded role," director Medina said.

Persons: Biden, Citgo, Nicolas Maduro's, Matthew Blair, Tudor, Blair, Jose Ignacio Hernandez, Leonard Stark, PDVSA, PDV, Juan Guaido, Natalie Shkolnik, Wilk Auslander, Nicolas Maduro, Stark, Evercore, Conoco, Horacio Medina, Carlos Jorda, Medina, Hernandez, Marianna Parraga, Erwin Seba, Gary McWilliams, Anna Driver Organizations: U.S . State Department, Reuters, Marathon Petroleum, Motiva Enterprises, Valero Energy, Koch Industries, Valero, U.S . Treasury, Holt, U.S, Crystallex International, PDVSA, National Assembly, Citgo, PDV, Supreme, Evercore, ConocoPhillips, Exxon Mobil, Exxon, U.S . Treasury Department's, Foreign Assets Control, Thomson Locations: United States, Petroleum, U.S, Houston, Venezuela, Washington, Saudi, Pickering, Citgo, Delaware, Caracas

☆ Meet the candidates in the running to replace James Gorman as Morgan Stanley's CEO
▼ + stars: | 2023-10-20 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +8 min

Morgan Stanley CEO James Gorman plans to retire by May 2024, leaving big shoes to fill. AdvertisementAdvertisementSuccession has traditionally been a bloody sport on Wall Street with the losers leaving and taking their lieutenants with them. Morgan Stanley CEO James Gorman, who plans to retire by May 2024, wants the buck the trend so the bank can hold onto all three candidates. "Wall Street has had a history of that not happening," said Gorman in a July earnings call. With Morgan Stanley at the top of its game, breaking up this well-oiled team could be disastrous.

Persons: Morgan Stanley, James Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, —, Gorman, Morgan, Ted, He's, Tony James, Morgan Stanley's, Pick, Simkowitz, Dodd, Frank, Fannie Mae, Freddie Mac, Dan, Andy Saperstein Saperstein, Merrill Lynch, Bloomberg, Hayley Cuccinello Organizations: Service, Archegos Capital Management, Washington , D.C, Federal Reserve, Treasury, General Motors, AIG, Citigroup, McKinsey, Staten, Disney, Hamptons Locations: Washington ,, hcuccinello@insider.com

☆ Lebanese Iran-aligned Al-Mayadeen reports attacks on two U.S. bases in Syria
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: 1 min

Oct 19 (Reuters) - Two U.S. military bases in Syria have come under attack, Lebanon's Iran-aligned Al Mayadeen TV reported on Thursday. There was no official confirmation of the attacks. Al Mayadeen reported a drone attack on the Al-Tanf base near Syria's borders with Iraq and Jordan, and a missile attack on the Conoco base in the countryside of the northern Deir al-Zor region. It gave no further information. Reporting by Tala Ramadan Editing by Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Mayadeen, Al Mayadeen, Gareth Jones Organizations: Tala, Thomson Locations: Syria, Iran, Syria's, Iraq, Jordan, Deir, Zor

☆ This Morgan Stanley veteran is ready to be CEO — it just might be somewhere else
▼ + stars: | 2023-10-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +16 min

Morgan Stanley CEO James Gorman plans to retire by May 2024. "Cross-pollinating key leaders across our major businesses further knits the Morgan Stanley culture," Gorman wrote in a memo at the time. Morgan Stanley, which was the lead underwriter, had to step in to prop up the stock. In 2010, Morgan Stanley was picked as one of two lead underwriters — the other being JPMorgan — for the IPO of General Motors. With Morgan Stanley at the top of its game, breaking up this well-oiled team could be disastrous.

Persons: Morgan Stanley, James Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, He's, Simkowitz, Eaton Vance, Pick, Morgan, Getty, Dan, doesn't, Gorman, Morgan Stanley's, Saperstein, executive's protégé, Andy, Alex, Brown, Ted, she'd, Simkowitz's, Dean Witter Reynolds, Eaton, Calvert, Ruth Porat, Bob Scully, Fannie Mae, Freddie Mac, Will Dotson, Dan Akerson, TIMOTHY A, CLARY, Erik Gordon, Dodd, Frank, David Bieri, Gonzalo Marroquin, Patrick McMullan, Paul Taubman, Colm Kelleher, coheads, John Mack, Phil Purcell, Hayley Cuccinello Organizations: Disney, Harvard, McKinsey, Columbia Business School, Maccabiah Games, Team USA, Maccabi USA, Trenton Almgren, Davis, Lucent, Verizon, Mesa West Capital, JPMorgan, Calvert Research, Management, Facebook, Massachusetts Securities Division, Treasury, JPMorgan —, General Motors, Government Motors, General, New York Stock Exchange, Getty, University of Michigan's Ross School of Business, Citigroup, Virginia Tech, US Securities and Exchange Commission, United States Attorney's Office, Southern, of Locations: Bloomington , Indiana, Trenton, New York, Tokyo and Hong Kong, Boston, Washington, Switzerland, of New York, hcuccinello@insider.com

☆ Investors like the high dividends and buybacks energy companies offer, but debt is starting to rise again
▼ + stars: | 2023-10-03 | by ( Brian Evans | ) www.cnbc.com time to read: +10 min

If oil prices stay high — and especially, if they breach $100 a barrel — the companies are well positioned. However, should oil prices fall and debt levels continue to rise, some companies have boxed themselves into a corner with very generous dividends and share repurchase programs. At the same time, operating cash flow has been declining. "What we're looking at is companies trying to bridge a little gap while operating cash flow is going down," said Mark Young, senior analyst at Evaluate Energy. "Since the end of 2020, operating cash flow has been able to cover all capital spending, dividend payments and share buybacks by itself.

Persons: Mark Young, Young, Conoco Phillips, Noah Barrett, Warren, Barrett, We're, Matt Smith, Smith, Jason Mountford, Brent, Goldman Sachs, Mike Wirth, Mountford, unprofitably, there's, that's Organizations: Energy, CNBC, Civitas Resources, Chevron, Exxon Mobil, Janus, Federal, Warren Pies, 3Fourteen Research, Investors, Conocophillips, Devon Energy, Exxon, Organization of Petroleum, Kplgr, Bank of America, Citigroup Locations: U.S, Wall, Saudi Arabia, Russia, Chevron

HOUSTON, June 30 (Reuters) - Negotiators representing Venezuela have held settlement talks with bondholders and creditors owed billions of dollars from defaults and expropriation claims, the head of a board supervising the country's foreign oil assets told Reuters. The U.S. has for years shielded Citgo from seizure under a license that will expire next month if not renewed. Some $2.6 billion in court-approved claims from Crystallex International, ConocoPhillips (COP.N), Siemens Energy (ENR1n.DE) and Red Tree Investments could be applied to auction proceeds. "We have progressed with the bondholders and Crystallex since party representatives officially met for the first time late last year and in February, respectively. IN 'GOOD FAITH'A negotiation team representing Venezuela also has held talks with ConocoPhillips, but they have not swapped financial proposals, he said.

Persons: Horacio Medina, Medina, Ryan Lance, Citgo, Marianna Parraga, Gary McWilliams, David Evans Organizations: Reuters, Citgo Petroleum, Crystallex International, ConocoPhillips, Siemens Energy, Tree Investments, U.S . Treasury, U.S, Thomson Locations: Venezuela, U.S, New York, Delaware, Washington

☆ Wall Street analysts say these stocks have more room to run through the rest of 2023
▼ + stars: | 2023-05-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

CNBC Pro combed through top Wall Street research to find stocks to buy for the rest of 2023. Fastly "Fastly is laying the foundation for long-term success," according to Bank of America analyst Tal Liani. "We view this as a positive inflection point which should remove the negative narrative of AWS' Gen-AI market position vs. peers," Lee said. ConocoPhillips - Goldman Sachs, buy rating "Stay Buy with Conoco our top pick among the Big 3 US majors for 2H2023. … We view this as a positive inflection point which should remove the negative narrative of AWS' Gen-AI market position vs.

Goldman Sachs believes the current downturn in the energy sector has created attractive opportunities for investors. The energy sector is down 9.4% in 2023, the largest decline among the 11 major S & P 500 sectors. Goldman attributes the energy sector's underperformance to a combination of macroeconomic conditions. Mild winter temperatures drove lower natural gas prices, and Russian oil supplies were s well higher-than-expected. Goldman also picked oil services company Halliburton as an underappreciated energy name.

☆ These buyback champions are shrinking their share count and analysts love them
▼ + stars: | 2023-05-12 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

As earnings season winds down, traders can tap into these buyback champions that are shrinking their share count, and are beloved on Wall Street. CNBC Pro screened for buyback champions that are shrinking their share count, and are considered buying opportunities by analysts. Common shares outstanding dropped 6.4% in the past year. As a percentage of capital, total debt at the firm is about 25%. Common shares outstanding fell 2.7% over the past year at the firm, while the company's total debt as a percentage of capital is nearly 24%.

Persons: they've, It's, Goldman Sachs, Morgan Stanley, Neil Mehta, Chubb Organizations: CNBC Pro, buyback, Facebook, Meta, Wall Street, Energy, ConocoPhillips, Citi, MetLife, Analog Devices

☆ The US and its allies are stuck in a violent cycle with Iran-backed militias who want blood but don't want to 'poke the bear'
▼ + stars: | 2023-04-16 | by ( Jake Epstein | ) www.businessinsider.com time to read: +11 min

But even still, miscalculation is possible, and these deadly exchanges nearly sent the US and Iran to war just a few years ago. In response, two US Air Force F-15E fighter jets carried out airstrikes later that evening against IRGC Quds Force facilities in Syria, killing eight Iran-backed militants. Angel Ruszkiewicz"We do not seek conflict with Iran, we don't seek escalation with Iran," Pentagon Press Secretary Brig. "As soon as the Iranian special forces and their proxies showed up in Syria, the Israelis started hitting them. The next day, Iran-backed militias attacked US forces near Hasakah, killing the American contractor.

☆ Exxon CEO's pay rose 52% in 2022, highest among oil peers
▼ + stars: | 2023-04-13 | by ( Sabrina Valle | ) www.reuters.com time to read: +2 min

Oil company workers did not see the same level of increases with median annual compensation for workers declining at several big energy companies. The median pay for an Exxon worker fell 9% last year to $171,582 while Chevron's median worker pay dropped 12%, to $161,488, filings showed. The two largest U.S. oil majors posted record profits in 2022 on high energy prices and costs cuts measures including payroll reductions. Occidental Petroleum's CEO Vicki Hollub's pay rose 35% while ConocoPhillips CEO Ryan Lance's pay fell 16%, all compared to their prior year. Under a new calculation disclosure required by the SEC on potential gains by executives on unvested stock awards, Woods' pay was $89.7 million in 2022, a securities filing showed.

With markets increasingly volatile, BMO Capital Markets thinks investors should turn to a two-way strategy that provide returns and protection at the same time. The S & P 500 gained more than 1% last week, but it wasn't a smooth ride. Given this uncertain backdrop, BMO suggests relying on a dual-tiered approach encompassing growth at a reasonable price strategy, or "GARP," and a dividend growth barbell. The firm compiled a list of outperform-rated stocks that fit into the GARP or dividend growth themes. CF Industries and ConocoPhillips were also highlighted by BMO under their dividend growth strategy.

Companies Conocophillips FollowWASHINGTON, March 13 (Reuters) - The oil industry on Monday cheered the U.S. government's greenlighting of ConocoPhillips' multibillion-dollar oil drilling project in Alaska's Arctic, but court challenges could mire the plans in further delays. President Joe Biden's administration approved a trimmed-down version of the $7 billion Willow project on federal lands in a pristine area on Alaska's north coast. Kristen Monsell, a senior attorney at the Center for Biological Diversity, another group involved in the previous suits, said Monday's approval for the Willow project is "still inadequate in numerous respects." Senator Dan Sullivan, a Republican from Alaska, told reporters the state's lawmakers are prepared to defend the decision against "frivolous" legal challenges. Even if Interior could beat back the oil company's challenge, it would probably only mean another delay for Willow, he said.

☆ CERAWEEK - U.S. permit reforms needed to achieve Inflation Reduction Act goals -Conoco CEO
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

The goals of the administration's Inflation Reduction Act will be "procedurally impossible" without streamlined permitting for lower carbon energy infrastructure, Conoco CEO Ryan Lance said in remarks at the CERAWeek energy conference. A major Conoco oil project in northern Alaska, called Willow, has been stalled by court and environmental reviews. Willow holds about 600 million barrels of oil and gas and has the support of Alaskan politicians and native groups. "If we don't get (the oil) from Alaska, it's going to come from someplace. As examples of long-term investments, he cited Conoco's liquefied natural gas projects in the US, Qatar and Australia.

☆ U.S. government backs smaller version of Conoco Alaska drilling project
▼ + stars: | 2023-02-01 | by ( Nichola Groom | ) www.reuters.com time to read: +2 min

Feb 1 (Reuters) - President Joe Biden's administration said on Wednesday it would support a scaled-back version of ConocoPhillips' (COP.N) planned $6 billion Willow oil and gas drilling project in Alaska but has not yet made a final decision on the contentious proposal. Alaska officials and ConocoPhillips backed that option in letters submitted to the agency in recent months. In a statement, ConocoPhillips said the design represented "a viable path forward" for Willow and said it was ready to begin construction "immediately" upon approval. The company said the project would deliver up to $17 billion in revenue for federal and state governments and local Alaska communities. A final decision will be made no sooner than 30 days after the review's publication, the department said.

☆ Profits over politics: the case for anti-ESG ETFs
▼ + stars: | 2022-10-05 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +3 min

Proponents of environmental, social and governance (ESG) products say investors are pushing corporations to pay more attention to broader social issues. Others, such as Strive Asset Management, say companies should stick solely to earning profits. Strive has launched two ETFs to push back against "woke capitalism" in the industry. The U.S. Energy ETF (DRLL ) tracks the XLE energy ETF, with Exxon Mobil (XOM ), Chevron (CVX ) and Conoco Phillips (COP ) comprising the top holdings. "We've already engaged with 10 publicly traded energy companies," Ramaswamy said.

☆ Buy these 8 stocks now before a 'pain trade' to the upside catches investors off-guard, says a top-2% fund manager
▼ + stars: | 2022-09-25 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

And I think that's going to be the story of this market." In fact, his fund, the Donoghue Forlines Yield Enhanced Real Asset ETF (DFRA), is in the top 2% of its category this year, according to Morningstar. "As people get more confidence, they're not going back into what I call the 'ARKK type' stocks," Forlines said. While Linde provides investors with a dividend yield of 1.69%, BHP has a gargantuan dividend yield of 13.4%. Unlike some of its peers, it hasn't been hurt by the dollar's massive rally this year, and its dividend yield is over 4% right now.

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