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GasBuddy News Article

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Big Oil grapples with higher costs amid flat growth prospects

Reuters -- A prolonged period of heavy planned spending looks to be ending for the big private-sector oil producers, leaving investors to gauge how companies will manage cash thrown off by big projects as they ramp up, and how much will be eaten up by costs

Due out next week, the Q3 results for the majors will be hit by an especially tough quarter for their downstream arms, which refine oil and produce chemicals

Upstream production from wells, meanwhile, has been flat or declining, though the outlook for next year looks better

While higher oil prices boosted cash flow in recent years, cost inflation now threatens to eat away at returns as oil companies push the envelope with deepwater drilling and LNG mega-projects

Concerns about spending more to get less prevail among those following the sector


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Submitted Oct 24, 2013 By: Nicoalbum
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Big Oil grapples with higher costs amid flat growth prospects Back to Topics
REPLIES (newest first) Post a Reply
52MPG
Champion Author Dayton

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Message Posted: Oct 25, 2013 7:20:03 AM

Higher prices have created the flat growth.
oldmack
Champion Author Riverside

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Joined:Jan 2013
Message Posted: Oct 25, 2013 3:08:33 AM

ok
gravityhurts
Champion Author North Carolina

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Message Posted: Oct 24, 2013 6:50:39 PM

Don't know what to make of this story.
KhelbenArunson
Champion Author Michigan

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Points:1,472,085
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Message Posted: Oct 24, 2013 5:04:54 PM

They should have left gas at 99 cents a gallon. I hope they suffer for what they have done.
EMoe57
Champion Author Jacksonville

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Message Posted: Oct 24, 2013 4:13:46 PM

ok
captcarl5
Champion Author Pennsylvania

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Message Posted: Oct 24, 2013 2:08:01 PM

interesting readings
Mr Sixpence
Champion Author Michigan

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Message Posted: Oct 24, 2013 12:45:23 PM

bet it won't take long for them to figure out that they can just push the extra costs on to the customer
tomok
Champion Author Portland

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Message Posted: Oct 24, 2013 10:57:27 AM

Big Oil grapples with higher costs amid flat growth prospects. Heavy planned spending ending, ramp up and eaten by costs, will be hit by an especially tough quarter for their downstream arms, upstream production from wells has been flat or declining.
Time to pass all expenses onto their customers and the customers will Not know it is happening. Fuel costs at the pump have been so very high and now Big Oil is whining about their predicament. Big Oil will reap what they sow and we get stuck with it!
Times are good, times are bad, roll with the punches, take care of yourself, and don't rely on others for what you have done.
Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
fisherMI
All-Star Author Michigan

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Points:74,690
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Message Posted: Oct 24, 2013 10:56:21 AM

OK then let Big Oil grapple
cableman31
Champion Author New York

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Message Posted: Oct 24, 2013 10:47:46 AM

Excuses, excuses, excuses. BIG OIL IS FULL NEVER RUNS OUT.
2granny
Champion Author Michigan

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Message Posted: Oct 24, 2013 10:41:17 AM

Here come the excuses for raises gas prices.
Hangnail309
Champion Author Manitoba

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Message Posted: Oct 24, 2013 10:24:38 AM

they are still making profits and this is another excuse to keep prices high ...
VernonOR
Champion Author Oregon

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Message Posted: Oct 24, 2013 10:23:27 AM

I will never feel sorry for gauging oil companies.
geezrtek
Champion Author Michigan

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Message Posted: Oct 24, 2013 10:22:49 AM

Hunh
trekmanKY
Champion Author Kentucky

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Message Posted: Oct 24, 2013 10:22:30 AM

Oh boy!
jojosir
Champion Author Wisconsin

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Message Posted: Oct 24, 2013 10:22:07 AM

we don't have cash flow
olebufnav
Champion Author Omaha

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Message Posted: Oct 24, 2013 10:19:00 AM

Oh, I feel soooo sorry for the poor babies...
dopster
Champion Author Toledo

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Message Posted: Oct 24, 2013 10:18:53 AM

Poor Big Oil! Maybe they need more taxpayer subsidies?
cutter1330
Champion Author Oklahoma

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Message Posted: Oct 24, 2013 10:16:59 AM

Big oil and flat growth prospects don't toghether
Ram4Sam
Champion Author San Bernardino

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Message Posted: Oct 24, 2013 10:16:02 AM

Reuter's must be having some real internal issues if this is what they are putting out........
Gascapade
Champion Author Fort Worth

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Message Posted: Oct 24, 2013 10:14:02 AM

Wow, what a completely and utterly insipid article...
Diesel_Ram
Champion Author Dallas

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Message Posted: Oct 24, 2013 10:13:56 AM

They have been like hogs at the endless feeding trough
Spankster85
Champion Author Chicago

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Message Posted: Oct 24, 2013 10:13:41 AM

Poor guys. Better raise pump prices then.
nozzle46
Champion Author Little Rock

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Message Posted: Oct 24, 2013 10:13:04 AM

I'm with ya, anobserver.
AnObserver
Champion Author New Jersey

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Message Posted: Oct 24, 2013 10:11:57 AM

My heart bleeds on thought that Exxon may slip to Number Twp in corporate profits
Insuremn
Champion Author Twin Cities

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Message Posted: Oct 24, 2013 10:11:54 AM

Does anyone really think big oil is hurting?
MrLuigi
Champion Author Massachusetts

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Message Posted: Oct 24, 2013 10:11:54 AM

the band wagon had to slow down sometime......
pricechecker08
Champion Author Ohio

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Message Posted: Oct 24, 2013 10:11:53 AM

Big Oil would not have a problem if they cut out those big million dollar oil bonuses.
Gascapade
Champion Author Fort Worth

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Message Posted: Oct 24, 2013 10:11:07 AM

All they're "grappling" with is how to spend the billions they've fleeced from us in their corrupt, colluded, cartelled, rampantly speculated and price manipulated crude oil market....
gasman50
Champion Author Portland

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Message Posted: Oct 24, 2013 10:10:44 AM

Time will tell
DrZNY
Champion Author Albany

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Message Posted: Oct 24, 2013 10:10:31 AM

Any excuse to keep prices high, and yet they are making billions of dollars in profits every quarter!!!!!!!!!!
cheli2010
Champion Author Twin Cities

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Message Posted: Oct 24, 2013 10:08:50 AM

the increase will all flow to the consumer you can bet on it.
mysub
Champion Author Las Vegas

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Message Posted: Oct 24, 2013 10:08:28 AM

They have made enough off of us all already.
fowlcan
Champion Author Oklahoma City

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Message Posted: Oct 24, 2013 10:08:11 AM

Oh don't worry! BIG OIL is still making money by the Barrel.
sparkie951
Champion Author Roanoke

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Message Posted: Oct 24, 2013 10:07:10 AM

Will see...
winks44
Champion Author Georgia

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Message Posted: Oct 24, 2013 10:07:02 AM

Spend some of the profits you should have put away.
momof5MN
Champion Author Twin Cities

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Message Posted: Oct 24, 2013 10:06:00 AM

Zzzzzzzzz
paulp24
Champion Author Harrisburg

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Message Posted: Oct 24, 2013 10:05:57 AM

Cry me a river...
Sethyl
Champion Author Miami

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Message Posted: Oct 24, 2013 10:01:31 AM

good
mberg
Champion Author Houston

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Message Posted: Oct 24, 2013 10:00:04 AM

Check with your financial analysts at Fidelity or your own financial house for a more in-depth analysis.
LuthierKS
Champion Author Wichita

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Message Posted: Oct 24, 2013 9:59:42 AM

Without them the horse manure would be several feet thick on the roads.
chill156
All-Star Author Fort Worth

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Message Posted: Oct 24, 2013 9:58:43 AM

How much money do they really need... enough is enough.... you do not have to set record earnings each quarter...
mcg00
All-Star Author Milwaukee

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Message Posted: Oct 24, 2013 9:57:23 AM

so there you have it!
ladyvoodoo
Champion Author Michigan

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Message Posted: Oct 24, 2013 9:57:08 AM

They've made billions from us!
Tutootin
Champion Author Toronto

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Message Posted: Oct 24, 2013 9:57:01 AM

PackerfanMN, You're probably right. Worse, they just may get it!!!!
babyjudy
Champion Author Tucson

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Message Posted: Oct 24, 2013 9:55:45 AM

Okay
Maintroll
Champion Author Lexington

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Message Posted: Oct 24, 2013 9:55:44 AM

Oh, don't you just feel sorry for big oil, and we are now all crying for them. Legal thieves is all they are, and we know it.
techque
Champion Author St. Louis

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Message Posted: Oct 24, 2013 9:53:47 AM

they've made $Billions while spiraling consumers into bankruptcy and the economy into recession, so . . . tough $#1^
colorado11
Champion Author Dayton

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Points:160,215
Joined:May 2011
Message Posted: Oct 24, 2013 9:53:28 AM

Glad that the prices are lower, but it will be a pain if the other shoe drops.
MinnKid
Veteran Author Minnesota

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Joined:Dec 2009
Message Posted: Oct 24, 2013 9:52:43 AM

Really
BillHeatherL
Champion Author Alberta

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Message Posted: Oct 24, 2013 9:52:22 AM

they are still making profits
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