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Fort Worth's new thoroughfare plan aims for more variety in street design

Fort Worth is launching a review of its master thoroughfare plan aimed at accommodating continued suburban growth and central city redevelopment with a greater variety of streets and more efficient traffic flow.

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Holt Hickman, businessman who helped preserve Stockyards, dies at 82

Longtime Fort Worth businessman, philanthropist and preservationist Holt Hickman died Nov. 15, 2014, at the age of 82.

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UPDATE: Could American Airlines move its headquarters?

A key linchpin in the Fort Worth economy, American Airlines Group Inc., is considering sites for a new headquarters, possibly outside the city, the airline’s CEO said this morning.

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Crestwood area hoping to block planned office building

Residents of West Fort Worth’s Crestwood Association are trying to block the rezoning of a small apartment complex at White Settlement Road and North Bailey Avenue to make way for a planned office building, saying it would represent the start of commercial encroachment into their neighborhood.

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Tiger Woods takes a swing at Fort Worth's Dan Jenkins - in print anyway

Rarely does Golf Digest make the news. Leave it to Dan Jenkins to change that.

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Exxon 2Q profit is lowest since early 2010

 


File photo
 
 
JONATHAN FAHEY, AP Energy Writer
 
NEW YORK (AP) — Exxon Mobil Corp. reported its lowest quarterly profit in more than three years as the Irving-based oil and gas giant again struggled to boost production and results from its refining operations weakened.
 
Net income fell 57 percent in the second quarter. Exxon said Thursday that it earned $6.86 billion, down from $15.9 billion in the year-ago quarter, which included a gain from the sale of a Japanese lubricants division and other assets. Excluding those year-ago gains, Exxon's net income fell 19 percent.
 
On a per-share basis Exxon earned $1.55. Analysts polled by FactSet expected Exxon to earn $1.90 per share.
Revenue fell 16 percent to $106.47 billion from $127.36 billion a year earlier.
 
Exxon last posted earnings of less than $7 billion the first quarter of 2010, when oil prices averaged $79 per barrel. In this year's second quarter, prices averaged $94 per barrel.
 
Exxon's lower earnings reflect higher drilling costs at a time of flat or declining production, analysts say. Exxon says oil and gas production fell 1.9 percent in the quarter, making it the ninth straight quarter production has declined compared with the year earlier.
Exxon's refining operations suffered in the second quarter because oil prices rose faster than wholesale gasoline prices. That narrows the profit refiners make because input costs were rising faster than prices refiners were getting for fuel.
 
These narrower margins reduced Exxon's refining profit by $510 million in the quarter, the company said. The company also manufactured less fuel because refineries were undergoing maintenance. That reduced earnings by $370 million.
 
"Refining stuck out the most, but they missed across the board," said Brian Youngberg, an analyst at Edward Jones.
In early trading, Exxon shares were down $1.46 to $92.29.
 

 

 
 

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