Oil major eyes buybacks, $10 billion in divestments
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LONDON (CBS.MW) -- Outlining an expectation for higher oil prices and increasing demand, Royal Dutch/Shell on Wednesday said it&#39;s lifting project spending to $45 billion over the next three years.
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Royal Dutch/Shell Group, the third largest publicly traded oil company, plans to raise spending to $15 billion a year, sell assets and cut costs in a bid to regain investor confidence after overstating oil reserves for six years.
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Flush with cash after selling Chrysler, DaimlerChrysler  will spend up to 7.5 billion euros ($10.20 billion) to buy back nearly 10 percent of its shares over the next year, the carmaker said on Wednesday.
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Ford Motor Co. F.N will offer three   buyout programs to U.S. salaried workers in an effort to cut   10,000 white-collar jobs by end of first quarter 2007, a   spokeswoman said on Wednesday.
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Royal Dutch/Shell Group unveiled another, bigger-than-expected, cut in oil reserves on Thursday but tempered the news by announcing record profits and plans for higher dividends and share buybacks.
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Record high oil prices are likely to trigger a rash of airline mergers and tie-ups, accelerating a wave of consolidation in the aviation sector, the head of Australian carrier Qantas said on Wednesday.
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Shares of Exxon Mobil Corp.  are overvalued, and investors may be better off buying companies that collectively resemble the world's largest publicly traded oil company, according to a firm of energy stock analysts, the Wall Street Journal said on Tuesday.
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U.S. oil major Chevron  is interested in buying assets of Russia's bankrupt oil firm YUKOS , the spokesman for YUKOS's receiver said on Friday.
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By Christopher Hope, Business Correspondent (Filed: 23/09/2004). Shell pledged yesterday to spend more cash on finding oil and gas over the next three years as the world&#39;s third largest oil company admitted
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Big energy companies are making major bets on Rocky Mountain oil shale as the United States looks for ways to reduce reliance on foreign countries for its oil supplies.
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US oil firm ConocoPhillips (COP.N: Quote, Profile, Research) will be able to add 10 percent of Russian major LUKOIL&#39;s (LKOH.RTS: Quote, Profile, Research) total reserves to its books after it completes buying a 10 percent stake
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U.S. oil major Chevron  is  interested in buying assets of Russia's bankrupt oil firm YUKOS  , the spokesman for YUKOS's receiver said on Friday.
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India's biggest oil exploration firm, Oil & Natural Gas Corp (ONGC), says it is in talks to buy the former assets of troubled Russian crude producer Yukos.
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Ford Motor Co.F.N will offer three   buyout programs to U.S. salaried workers in an effort to cut   10,000 white-collar jobs by end of first quarter 2007, a   spokeswoman said on Wednesday.
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The chief executive of Exxon Mobil Corp.   said on Thursday he is "disappointed" by a recent  decision by Alaska to revoke some of the company's leases in  the North Slope region and said the world's largest oil company  is deciding its next move.
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The company's plans to cut up to 3,000 IT jobs highlight pressure as high oil price hits bottom line.
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US oil company is looking to buy up to 25% stake in the Russian oil giant, source says. MOSCOW  - US oil major ConocoPhillips is seeking to buy up to 25 percent in Russian oil giant Lukoil, booking