Trans Mountain oil pipeline expansion may start in September

CALGARY, Alberta/WINNIPEG, Manitoba (Reuters) – Construction on expanding the Trans Mountain oil pipeline could begin in September, assuming the next regulatory steps go smoothly, the project’s chief executive said on Wednesday. The C$7.4 billion ($5.56 billion) project was stalled a year ago after a Canadian court ruled the federal government, which also owns Trans Mountain, failed to adequately consult indigenous […]

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Fitch cuts rating of Mexico’s troubled Pemex

MEXICO CITY — Fitch Ratings downgraded Mexico’s highly indebted state oil company Petróleos Mexicanos, stripping it of its investment-grade rating. The cut to BB+ from BBB- followed Fitch’s downgrade Wednesday of Mexico’s sovereign credit rating to BBB from BBB+. The ratings firm lowered Pemex by two notches in January. Pemex’s outlook remains negative, reflecting the potential for further deterioration in […]

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Oil prices look to register slight weekly declines amid Sino-American trade spat

Oil prices split ways on Friday, with global benchmark crude on the rise and the U.S. benchmark struggling for direction, but both headed for slight losses for the week, as investors weighed the threat to energy demand posed by escalating U.S.-China trade tensions. West Texas Intermediate crude for June delivery CLM9, -0.23% fell 17 cents, or 0.3%, to trade at […]

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U.S. oil gives up earlier losses to move higher ahead of Nymex settlement

U.S. oil futures rose Monday, giving up earlier declines ahead of the Nymex settlement, as concerns following a threat from President Donald Trump to raise tariffs on Chinese goods eased. China’s Foreign Ministry spokesman Geng Shuang said Monday that China is still preparing to send a delegation to Washington for trade talks, according to news reports. Tensions in the Middle […]

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Galp swings to loss on one-off charges

Galp Energia SGPS SA (GALP.LB) said Monday that it swung to a loss in the first quarter as a series of one-off charges weighed on its bottom line. The Portuguese energy company posted a net loss of 8 million euros ($8.9 million) compared with a profit of EUR130 million a year earlier. Group turnover dropped to EUR3.56 billion from EUR3.89 […]

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Martin Midstream Partners stock plummets toward record low after dividend cut in half, surprise loss

Shares of Martin Midstream Partners L.P. MMLP, -2.77% plummeted 17% toward a record low, after the provider of natural-gas and other energy-related services cut its dividend in half, after part of its plan to strengthen its balance sheet, and reported a surprise first-quarter loss. The company’s new quarterly distribution was reduced to 25 cents a share from 50 cents. Based […]

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Don’t be ‘fooled’ by these fresh highs for stocks, warns analyst

And just like that, Wall Street stocks squeezed out fresh all-time highs on Tuesday. Here’s one bird’s-eye view on that session that left the S&P 500 and Nasdaq at record closing highs from Michael Baele, senior portfolio manager at U.S. Bank Private Wealth Management. He told the WSJ it’s almost like the market is “calling a mulligan,” a golfing term […]

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