BP, ExxonMobil, Shell investors say ‘show me the money’

first_img FacebookTwitterLinkedInEmailPrint分享Wall Street Journal ($):Investors want just one thing from the world’s biggest oil companies: cold, hard cash. But it is becoming harder for the oil giants to deliver.Companies such as ExxonMobil Corp. (XOM), Royal Dutch Shell PLC (RDS) and BP have long used hefty and reliable dividends to keep investors on board in a sector that has volatile profits tied to commodity prices. The importance of the payments has only grown recently, as investors have become wary of the companies due to short-term concerns about oil overabundance, and long-term fears that climate change and electric vehicles cloud the future of fossil fuels.But as the companies throw money at investors through dividends and share buybacks to keep them from fleeing, the payouts have begun to strain their balance sheets.Exxon and France’s Total haven’t generated enough cash this year to cover new expenses and dividends, according to FactSet data and company disclosures. BP was able to cover its dividend, but the company’s debt levels rose relative to its market capitalization. Shell needed asset sales to help cover dividends and buybacks.Energy has been the worst-performing sector of the S&P 500 for more than a decade, and the third-quarter earnings have continued a lackluster streak that has lasted throughout the year.Exxon, which remains under pressure to return to its practice of buying back billions of dollars in shares annually, reported net income of $3.17 billion, down about 50% from the same period a year ago, but slightly better than what analysts had expected. Exxon increased its annual dividend in the first quarter, a step the company has taken for 37 years in a row.The company announced that it would begin production next month at its massive new megaproject in the South American nation of Guyana, earlier than an anticipated 2020 startup. Guyana is one of several areas where Exxon is investing new sums to boost growth and returns in the future.Chevron reported net income of $2.6 billion from July to September, down from $4 billion in the same period in 2018. The company increased share buybacks to $1.25 billion in the quarter.Shell’s U.S. shares fell 3.5% Thursday after the company warned that it might not finish buying back $25 billion in shares by 2020 as originally expected. BP’s U.S. shares fell by more than 3.3% Tuesday after BP reported a loss and failed to increase its dividend.Oil-and-gas companies now make up about 5% of the S&P 500 index, down from 14% a decade ago, according to Evercore ISI. Their middling recent returns limit their ability to step up shareholder payments that investors increasingly demand as a key step that would bring them back into the sector.“Eventually, oil demand is going to go down,” said Kevin Holt, a senior portfolio manager for Invesco Ltd., which has more than $1 trillion in assets under management. “With that question of terminal value, it’s even more important that companies ramp up the cash return. Why grow the business if we won’t need as much oil in 20 years?”More ($): Investors to Big Oil: Make It Rain BP, ExxonMobil, Shell investors say ‘show me the money’last_img read more

Preaching on the Parkway?

first_imgA group of Blue Ridge Parkway hikers was taken aback recently when they encountered a Jehovah Witness stand in front of a popular trailhead on the Blue Ridge Parkway.Bev McDowell is a hike leader with the Carolina Mountain Club. She was leading a group in the Graveyard Fields area when she came across the proselytizers.“That’s when we came across a Jehovah Witness stand. They were handing out pamphlets and free water to people,” McDowell told the Asheville Citizen Times.“I don’t think the forest is the place for this. The parkway land was set aside years ago to be commercial free, no advertising, no billboards. It’s an oxymoron to set up a little stand. I don’t want to see people out there selling their religion or the Girl Scouts selling cookies.”According to Blue Ridge Parkway spokeswoman Leesa Brandon, the Jehovah Witness devotees were within their rights when distributing the religious literature because the parkway is considered a public space.“We encourage the opportunity to have a conversation with those who want to practice the First Amendment rights (freedom of speech, the press, religion and assembly). We have some areas set up for people to do that,” Brandon told the Citizen Times.“Our preference is to have a heads-up and coordination with these groups to make sure it’s done safely and let our staff know this is happening, mainly for safety.”What do you think? Should preaching and religious proselytizing be allowed on the Blue Ridge Parkway.[totalpoll id=”76056″]last_img read more

We committed mistakes- Hearts defender Fatawu Mohammed

first_imgHearts of Oak defender Fatawu Mohammed lamented his side’s numerous costly errors in the 4-0 defeat to Esperance in the CAF Confederation Cup.The youngster was handed a starting role in the absence of Owusu Bempah who is Ghana’s U20 team preparing for the FIFA World Cup.He and the other inexperienced Phobians could not withstand the quality of the Esperance side.A brace from Samuel Eduok and strikes from Harrison Afful and Ghailane Chaalali sealed the handsome win for the Tunisian side.”The game wasn’t easy but first of all we have to correct mistakes before for the second leg. They were really experienced and the pitch in Tunis didn’t help matters but we have do our homework and take our chances when they come,” Mohammed told Joy SportHearts will host the Blood and Gold in the return leg on 07 June at the Accra Sports Stadium.last_img read more

Shortlist announced for GolfMark Club of the Year award 2013

first_img Three golf clubs, each with an outstanding record of working with juniors and beginners, have been shortlisted for the prestigious GolfMark Club of the Year award, supported by COBRA PUMA GOLF. The finalists are Upton-by-Chester Golf Club, Cheshire; Garon Park Golf Club, Essex; and Leamington & County Golf Club, Warwickshire. They have each been visited by judges from England Golf and the winner will be announced at the 2013 County Golf Development Conference on 7 February. The GolfMark Club of the Year will receive a national trophy and a prize from COBRA PUMA GOLF. This award, now in its fifth year, recognises GolfMark clubs which have shown an outstanding and innovative contribution to junior and beginner golf. The three finalists were among 20 nominated clubs, all of a high standard, which demonstrated their commitment to junior and beginner golf through their activities and approach. A judging panel from the England Golf Partnership selected the shortlisted clubs. The other clubs nominated were: Abbey Hill, Buckinghamshire; Mullion and St Austell, Cornwall; Weymouth and Sturminster Marshall, Dorset; Brickhampton, Gloucestershire; West Herts, Hertfordshire; Tenterden, Kent; Thorpe on the Hill, Lincolnshire; Barnham Broom, Norfolk; Northampton, Northamptonshire; Norwood Park, Nottinghamshire; Market Drayton, Shropshire; Roehampton, Surrey; Lewes and Cottesmore, Sussex; Cookridge Hall, Yorkshire. Bawburgh Golf Club in Norfolk was the 2012 winner of the GolfMark Club of the Year award, following Bramshaw, Hampshire, in 2011. To view video clips on both clubs visit www.englandgolf.org and click on England Golf TV. GolfMark was introduced in 2006 and Filey Golf Club in Yorkshire has just become the 600th club to achieve the award. GolfMark is open to all affiliated golf clubs and details of the scheme, including the procedure, case studies and clubs awarded, can be viewed at www.golfmark.org 30 Nov 2012 Shortlist announced for GolfMark Club of the Year award 2013 last_img read more

Watch: PSG fans abusing unprofessional Neymar in their opening Ligue 1 match

first_imgImage Courtesy: Getty/AFPAdvertisement zNBA Finals | Brooklyn Vs9cweWingsuit rodeo📽Sindre Eggak( IG: @_aubreyfisher @imraino ) 6qowoWould you ever consider trying this?😱v1Can your students do this? 🌚ne54Roller skating! Powered by Firework Neymar Jr, the Paris Saint Germain wantaway who’s several attempts to secure an exit from France have went futile this window. Now, the fans have started chanting slangs against the Brazilian, along with banners, asking the player to get out.Advertisement Image Courtesy: Getty/AFPWhile the forward has been desperate to move away from France, the Parisians supporters had grown a serious distaste for their club starman, which expressed during PSG’s season opening match at Parc des Princes today.Even though Neymar did not start the match, the stands were rallying with slogans such as “Neymar, hijo da puta” which means in English: “Neymar, you son of a b***h”.Advertisement Football HQ uploaded a footage on their Twitter. Check it out below-PSG fans are chanting: “Neymar, hijo da puta” which translates to “Neymar, you son of a bitch” in their first game of the season tonight.pic.twitter.com/DABnvEPBV9Advertisement — Football HQ (@FootbaII_HQ) August 11, 2019Hoardings were also seen in the stands, which read: “Neymar, buzz off!”The 27 year old has tried all sorts of methods to get a transfer to Spain, from WhatsApp texts such as “Take me back to Barça” and “Don’t worry, I am coming” to his father and former Barça teammates, to a direct approach to PSG president Nasser Al-Khelaifi regarding his dislike for the Ligue 1 atmosphere.According to reports from Sunday Times suggested that Neymar recently asked Lionel Messi to persuade the Catalan club to attempt a move for him. However, the forward is yet to receive an offer.The match was won smoothly by PSG, as Edinson Cavani opened up the scoresheet from the spot in the first half, and Kylian Mbappé and Ángel Di María netted two goals in the second half. The final score was 3-0. Advertisementlast_img read more

Letter: A Unique Red Bank Story, The T. Thomas Fortune House

first_imgContributed by D. Robin Blair |I appreciate The Two River Times front page article of March 1-8, “Opening This Fall: Tribute to Overlooked Red Bank Legend.”T. Thomas Fortune and family moved to their Red Bank home “Maple Hall” in August of 1901, according to a Red Bank Register article of that year. The Fortune home was subsequently deemed significant by its inclusion in both the National Register of Historic Places (Dec. 8, 1976), and in the New Jersey Register of Historic Places (Aug. 16, 1979). As a tradition for Black History Month in February, the T. Thomas Fortune Foundation participated in the 28th Annual African-American Read-In at both the Red Bank and Long Branch libraries with their “Reading Fortune: A Voice for the Ages.” This event is sponsored by the Black Caucus of the National Council of Teachers of English (NCTE) and endorsed by the International Literacy Association. The goal is to make literacy a significant part of Black History Month.Thank you for bringing attention to this unique Red Bank story. The story starts with the son of a slave becoming the editor of the most influential African American newspaper in the nation. With his position, he befriends many of the most notable 20th century figures, e.g. Frederick Douglass. But the story continues with the current rehabilitation of his home made possible by Roger Mumford. In this public private partnership, Mr. Mumford will provide the nonprofit T. Thomas Fortune Foundation with a magnificently restored building to be named the T. Thomas Fortune Cultural Center.For information about the T. Thomas Fortune Foundation, visit: tthomasfortuneculturalcenter.org.D. Robin Blair Member,Board of DirectorsT. Thomas Fortune Foundationlast_img read more

Leafs end skid with 4-3 win over defending KIJHL champion Osoyoos Coyotes

first_imgThe winless streak is over for the Nelson Leafs.Patrick Martens scored with six minutes remaining to snap a 3-3-tie and power the Leafs to a 4-3 Kootenay International Junior Hockey League victory over the Osoyoos Coyotes Sunday in the South Okanagan City.The win ended a five-game losing streak for the Heritage City franchise.Nelson held period leads of 2-1 and 3-2 before Kam Crawford scored on the power play midway through the third period to tie the game.However, Martens beat Jordan Gluck for the winning tally late in the third period.Nelson opened the three-game Okanagan road trip with losses in Princeton to the Posse 4-2 and in Kelowna, a 6-3 setback to the Chiefs.Matti Jmaeff, with his second goal in as many games, Brett Norman and Max Mois also scored for the Leafs, which out shot the Coyotes 42-34.Andrew Walton has a bounce-back game to register the win in goal.The Leafs, 13-8-0-1, maintained a slim one-point advantage over the third-place Castlegar Rebels in Murdoch Division standings.Beaver Valley leads the Murdoch by a single point over Nelson.Both Beaver Valley and Castlegar have played three fewer games than the Leafs.elson concludes a six-game set away from the NDCC Arena Thursday in Fernie against the 14-4-0-1 Ghostriders.The Leafs return home Saturday to host the Grand Forks Border Bruins Saturday at 7 p.m. in the NDCC Arena.ICE CHIPS: The Leafs made it two straight over the defending KIJHL champions. Nelson posted a 5-3 win over Osoyoos in early October. . . .Nelson, down to 14 players, was missing captain Tyler [email protected]last_img read more

Friesen sparks Wranglers past Nitros in KIJHL Championship opener

first_imgThe hosts outshot the Wranglers 11-3 in the frame.Kimberley maintain the lead until Friesen set up Kolby Page with the game-tying marker in the third period.100 Mile House kept up the pressure, out shooting the Nitros 10-6 in the period, until Friesen beat Tyson Brouwer for the winnner.100 Mile House, defeating Summerland Steam to advance to the KIJHL final,  held a 27-23 shots advantage in the game.The series shifts to 100 Mile House for Games three and four of the series Tuesday and Wednesday. The road back to the top of the Kootenay International Junior Hockey League hit a pothole for defending champion Kimberley Dynamiters Saturday in the Bavarian City.Ryan Friesen scored the game-winner with six minutes remaining in the game to spark the 100 Mile House Wranglers to a 2-1 win over the Dynamiters in Game one of the League Championship series.The Wranglers now secured home-ice advantage as the team prepare for Game two of the best-of-seven series Sunday in Kimberley.Kimberley opened the scoring in the game as Jordan Busch scored a power play marker with assists by Sawyer Hunt and Jared Marchi seven minutes into the first period.last_img read more


first_imgTIZNOW COLT LIKELY TO BE POINTED TO GRADE III AFFIRMED AT 1 1/16 MILES ON JUNE 7PICK SIX CARRYOVER OF $129,769 INTO THURSDAY, TOTAL ‘SIX’ POOL COULD REACH $1 MILLIONARCADIA, Calif. (May 10, 2015)–Heavily favored Kentuckian ran to his notices in taking Sunday’s Grade III, $100,000 Lazaro Barrera Stakes by 6 ¼ lengths under Mike Smith while covering seven furlongs in 1:20.97. Conditioned by Jerry Hollendorfer, the 3-year-old colt by Tiznow made amends for a disappointing third place run in the six furlong San Pedro Stakes on April 12, when he encountered traffic trouble at odds of 3-5.“He drew real well in this race and we were hoping to have a clear run at the speed today, which there was a lot of,” said Hollendorfer. “It’s nice to have an owner like Rick (Porter, of Fox Hill Farms, Inc.), who lets you do the things you need to do…In order to do well, you have to have a horse that can run and you have to have owners that let you do your thing.”When asked what might be next for his budding star, Hollendorfer said “If we do decide to go two turns, we’re looking at the mile and a sixteenth race here on June 7 (Grade III, $100,000 Affirmed Stakes).”An 11 length first-out maiden winner at Golden Gate Fields on March 7, Kentuckian was off at even money today in a field of six sophomores and paid $4.00, $2.80 and $2.40. In picking up $60,000 for his second win from three starts, Kentuckian hiked his earnings to $85,080.“He reminds me of Holy Bull,” said Smith, who overwhelmed pacesetter Yiannis a quarter mile out. “He has an unbelievably high cruising speed and stride. I knew we were going quick, but after a quarter mile, he just took a deep breath and got into a fluid stride. I thought ‘There you are, now we’re okay.’ In the beginning, he was scrambling and was kind of tight and when they do that, they don’t always breathe right…The last furlong I pulled my stick up just because I heard Trevor (Denman) saying someone was coming but, when I looked on the big screen, I put it back down.”Forest Blue, possibly named for the late San Francisco 49ers All Pro center, was next to last going into the far turn under Martin Pedroza and finished second, 2 ¼ lengths clear of The Gomper. Off at 13-1 in just his second career start, Forest Blue paid $7.80 and $3.60.The Gomper, who was ridden by Rafael Bejarano and is also trained by Hollendorfer, rallied from last to run third, one length in front of Yiannis. The Gomper was off at 3-1 and paid $2.80 to show.Fractions on the race were 21.84, 43.64 and 1:08.21.Racing resumes at Santa Anita on Thursday, with first post time at 1 p.m. Admission gates will open at 11 a.m.last_img read more


first_imgLIEUTENANT COLONEL: A gate to wire winner of his last two starts; allowance races at 1 1/16 miles on Feb. 15 and 1 1/8 miles on March 6, this 4-year-old gelding has come to hand for trainer Jerry Hollendorfer, who has saddled him in his last three outs. Well beaten in both the Grade III Gotham Stakes and the Grade I Wood Memorial when trained by Chad Brown a year ago, Lieutenant Colonel faces his first stakes assignment for Hollendorfer. With Rafael Bejarano opting to ride Big John B, he’ll be ridden by Mike Smith, who was aboard for his first southern California start, as he tries to stretch his speed to the unknown depths of a mile and one half. Owned by Harvey Clarke and Paul Braverman, Lieutenant Colonel has three wins from six overall starts and has earnings of $116,650.BIG JOHN B: The class of the field, “Big John” has 13 wins from 34 starts on grass, but has only run three times on dirt, with his lone win coming at a mile and one half, in Del Mar’s Grade III Cougar II Handicap seven starts back on July 24. A dedicated deep closer, Big John B, a 7-year-old gelding by Hard Spun, never threatened when seventh as the 2-1 favorite here in the Grade II, 1 ½ miles turf San Luis Rey Stakes on March 13. Trained by Phil D’Amato and owned by Michael House, Big John B is 39-14-6-5 overall with earnings of $789,770.THE GRADE III TOKYO CITY CUP IN POST POSITION ORDER WITH JOCKEYS & WEIGHTSRace 8 (of 10)     Approximate post time, 4:05 p.m. PDTBig John B–Rafael Bejarano–122Class Leader–Victor Espinoza–120Ike Walker–Edwin Maldonado–120John’s Success–Tyler Baze–120China Girl Lover–Drayden Van Dyke–120Blingo–Alex Solis–120Lieutenant Colonel–Mike Smith–120First post time for a 10-race program on Sunday is at 12:30 p.m. Admission gates open at 10:30 a.m. ARCADIA, Calif. (April 1, 2016)–Front running Lieutenant Colonel and late running Big John B head a field of seven older horses in Sunday’s Grade III, $100,000 Tokyo City Cup at Santa Anita, which will be contested at the marathon distance of 1 ½ miles on the main track.last_img read more