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Occidental profit falls 69 percent on lower prices Occidental Petroleum says its fourth-quarter profit fell 69 percent from a year ago as results were hammered by lower oil and gas prices.The Los Angeles-based oil and gas producer said Thursday net income in the October-December period amounted to $443 million, or 55 cents a share, versus $1.45 billion, or $1.74 a share, a year ago.Revenue for the final three months of 2008 fell 27 percent to $4.02 billion.Excluding one-time charges, Occidental's most-recent results were $957 million, or $1.18 a share. Analysts surveyed by Thomson Reuters were expecting earnings of 95 cents a share. Those forecasts typically exclude one-time items. topix.netUAE to produce 2.23 million bpd in January The UAE is likely to produce 2.23 million barrels per day (bpd) of oil in January, which would be a 0.38% drop in output compared to the previous month, after complying with the latest supply cuts announced by the Organization of Petroleum Exporting Countries (Opec), latest estimates by the International energy agency (IEA) show. OPEC announced a 2.2 million bpd output cut for member countries effective January 2009 in a bid to lift tanking oil prices that have slumped to below $50 levels from an all-time high of $147.27 a barrel seen on July 11 last year. The UAE produced 2.43 million bpd of crude oil in December. [AMEInfo.com] ameinfo.comOil rises on hope stimulus package can spur growth Oil prices rose slightly to $42 a barrel Wednesday in Asia, tempering an overnight tumble on expectations that economic stimulus packages will help arrest the global slowdown and boost demand for crude.Light, sweet crude for March delivery rose 46 cents to $42.04 a barrel by afternoon in Singapore in electronic trading on the New York Mercantile Exchange. The contract fell overnight $4.15 to settle at $41.58 amid more evidence of decline in the U.S. housing industry, more job cuts and plunging consumer confidence. topix.netExercise underutilized for chronic back and neck pain Exercise is commonly used to improve physical function, decrease symptoms and minimize disability caused by chronic low back or neck pain. Numerous randomized trials and clinical practice guidelines have supported this practice, and studies suggest that individually tailored, supervised exercise programs are associated with the best outcomes. Eurekalert.orgExercise plays large role in recovery from knee replacement and the occurrence of osteoarthritis Two new studies found that exercise may be a factor in recovering from a total knee replacement and knee osteoarthritis. Eurekalert.orgTom Cruise smile comes with a sunburn price (Royal Society of Chemistry) UV light-enhanced tooth bleaching is not only a con, but is dangerous to your eyes and skin, says a Royal Society of Chemistry journal. The light treatment gives absolutely no benefit over bleaching without UV, and damages skin and eyes up to four times as much as sunbathing, reports a study in Photochemical & Photobiological Sciences. Eurekalert.org |
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