Paal Kibsgaard says worst is over for oil services industry Quarterly loss was $2.16 billion; 16,000 jobs cut in 1st half Schlumberger Ltd. reported an unexpected loss and cut more Continue Reading
Presumptive Democratic presidential nominee Hillary Clinton would end fossil fuel development if elected, Continental Resources CEO Harold Hamm said. Hamm addressed delegates in Cleveland at the Republican National Convention, speaking Continue Reading
Schlumberger Ltd., citing weakness in activity that it expects to persist throughout the year, says… Schlumberger also continued with its cost-cutting efforts, saying it had cut roughly 16,000 workers in Continue Reading
The Houston-based company confirmed Thursday that it will lay off about 1,000 employees this year, mostly from North American energy jobs in the U.S. and Canada. The cuts were outlined Continue Reading
U.S. independent refiners such as Valero Energy Corp and Phillips 66 look set to post another quarter of disappointing earnings, putting the industry on track for its worst year since Continue Reading
Every day in 2015, the United States spent $991 million on petroleum consumption, the lowest daily total since 2008. Consumption levels in the U.S. have decreased slightly to 19.72 MMBoepd Continue Reading
Donald Trump’s potential energy secretary took President Obama to task for trying to “destroy” the U.S. oil boom. Harold Hamm, a shale oil billionaire, gave a speech on Wednesday night Continue Reading
To provide themselves a cushion against sharp drops in oil prices, drilling companies often buy hedges—financial contracts that pay off when prices fall. Now a quirk of bankruptcy law has Continue Reading
Putin aide says ruble has begun to ‘over-appreciate’ Bank of Russia says it won’t influence the exchange rate Russia’s ruble headed for its lowest level in a week on speculation Continue Reading
Three export terminals on Russia’s Arctic coast shipped an average of 230,000 barrels of crude in the second quarter of 2016. This figure is almost equal to Libya’s total daily Continue Reading
