Canadian pipeline operator Enbridge Inc on Thursday reported a loss for the first quarter compared with a profit a year earlier, hit by nearly C$4 billion in charges related to its investment in DCP Midstream and derivative losses.
Oilfield firm Baker Hughes Co on Wednesday reported a $10 billion (8.09 billion pounds) first-quarter loss and revenue fell more than expected as an 80% plunge in oil prices crushed demand for services and equipment.
Royal Dutch Shell Plc pulled out of a major U.S. liquefied natural gas (LNG) export plant under development following the recent crash in energy prices, quickly followed by its partner, Energy Transfer LP , delaying its final decision on whether to go ahead with the project to next year.
Occidental Petroleum said on Friday it will move to stop investors from amassing more than a 15% stake in a move aimed at activist investor Carl Icahn, who has been buying up shares and stepping up criticism of the oil producer's $38 billion purchase of Anadarko Petroleum last year.
Feb 27 Canada's excessively long regulatory
process led to cancellation of Teck Resources'
Frontier oil sands project, the chief executive of rival Husky
Energy said on Thursday.
U.S. refiner Phillips 66 missed analysts' estimates for quarterly profit on Friday, hit by lower margins and higher turnaround activity at its refineries.
Independent U.S. refiner Valero Energy Corp topped Wall Street estimates for quarterly profit on Thursday, as it earned more from refining low-cost Canadian heavy crude.
Marathon Petroleum Corp's quarterly profit halved as the U.S. refiner was forced to write down $1.2 billion goodwill in its pipeline and transportation business that has failed to perform since Marathon acquired it two years ago.
Canadian auto parts maker Magna International Inc on Thursday forecast lower 2020 sales and scrapped its partnership with Lyft to co-develop self-driving technology as it said it would instead focus on developing assisted driving technology.