The world’s biggest oil and gas firms should break an industry taboo and consider cutting dividends, rather than taking on any more debt to maintain payouts as they weather the Continue Reading
The Trump administration is pushing ahead with drilling lease sales as oil prices plummet and amid calls from conservation groups and others to suspend business as usual during the coronavirus Continue Reading
The U.S. oil market is displaying worries that stockpiles are going to run out of storage space, with futures being whipsawed as a growing glut counters economic stimulus measures. While crude Continue Reading
U.S. factories received fewer orders for business equipment than forecast in February, just before the coronavirus-related demand shock that will likely lead a massive pullback in corporate investment. Core capital goods Continue Reading
A federal judge on Wednesday ordered the U.S. Army Corps of Engineers to conduct a full environmental review of the Dakota Access pipeline, nearly three years after it began carrying Continue Reading
Occidental Petroleum Corp., the largest oil producer in the giant Permian Basin, has ceded to activist investor Carl Icahn’s demands and announced deep spending cuts in a bid to survive Continue Reading
Traders are backing off their bearish bets on natural-gas prices, stock buyers are flocking to the beaten-down shares of Appalachian producers and analysts are forecasting short supplies of the fuel Continue Reading
The shale revolution that made the US the world’s biggest oil and gas producer and offered the prospect of energy self-sufficiency has run out of steam, as drillers slash spending Continue Reading
As much of his government battles the coronavirus outbreak, President Trump is pushing ahead with major reversals of environmental regulations, including a restriction on scientific research that some doctors worry Continue Reading
Oil companies are already beginning to pare back their activity in the Permian, with cutbacks coming not just from smaller drillers, but also the oil majors . Chevron said on Continue Reading
Schlumberger and Halliburton joined the ranks of oil companies on a spending-cutting spree amid the steep oil price drop. Schlumberger said it would slash its spending by 30 percent less Continue Reading
Pennsylvania’s social-distancing orders prompted a temporary halt to construction of several natural gas pipeline projects in the state, but some developers were working to secure waivers to allow more work Continue Reading
Highlights Oil prices are plunging on fears of low demand, surging supply Bakken shale operators are sitting on a DUC inventory of ~420 wells How many wells could be brought Continue Reading
The US oil glut is growing so fast that one pipeline owner is concerned traders may stow away crude on its network until prices improve. (Bloomberg) — The glut of Continue Reading
Funding for President Donald Trump’s plan to fill up the nation’s emergency oil reserve to help struggling drillers cope with the price crash failed to make it into the latest Continue Reading
U.S. crude oil refinery inputs averaged 15.8 million barrels per day during the week ending March 20, 2020 which was 18,000 barrels per day more than the previous week’s average. Continue Reading
Freight services on passenger planes to boost revenue as the U.S. Senate unanimously passed a bill to give its carriers $58 billion in aid, including payroll support. The passenger travel Continue Reading
Florida has a message for New Yorkers: Please don’t visit. And if you do, prepare to sit in quarantine or risk jail. Hawaii, which also thrives on tourism, is asking Continue Reading
Phillips 66 unveiled its plan for responding to the market downturn. Phillips 66 on Tuesday unveiled its plan for responding to the market downturn. “Phillips 66 is well positioned to Continue Reading
Russian President Vladimir Putin on Wednesday postponed a nationwide vote on constitutional changes that would allow him to extend his rule, saying the health and safety of citizens was his Continue Reading
As the coronavirus continues to spread, Russia may have a hard time tracking people who have caught it at work, on the metro, or from relatives. In the past two Continue Reading
While the ruble is now at its lowest level against the dollar in four years, the cheaper ruble has a silver lining for Russia’s oil producers in the oil price Continue Reading
Russia’s economy needs about a trillion rubles, or roughly $12.7 billion a month over the next few months to emerge stable from the coronavirus pandemic and the oil price crash Continue Reading
t least three car plants in Russia plant to suspend operations to prevent the spread of the coronavirus while they also struggle with a lack of components. Volkswagen Group Rus, Continue Reading
European governments weighing the economic damage of a mass shutdown against the risk of spreading the new coronavirus were initially hesitant to impose stringent lockdowns and border closures. But as Continue Reading
Oil prices extended gains for the third session on Wednesday, rising alongside broader financial markets as the United States is expected to approve a massive aid package to stem the Continue Reading
Oil rode a rally driven by optimism over U.S. stimulus spending into a third day, but a vicious price war that shows no signs of abating continued to hang over Continue Reading
Oil prices were little changed on Tuesday, giving up an earlier rally, as ongoing worries about the heavy toll the coronavirus pandemic will take on demand offset hopes for a Continue Reading
Oil prices jumped by 4 percent early on Tuesday after the U.S. Federal Reserve launched on Monday extensive new measures to support the economy as the coronavirus pandemic spreads. But Continue Reading
Both oil and stocks rallied on Tuesday morning as news of a Fed stimulus initiated some bullish sentiment in markets, but poor fundamentals are likely to drag oil prices down Continue Reading
Black markets flourish and civilians resort to desperate measures as impact of Libya’s ongoing oil blockade bites A closed petrol station in southern Libya. Since 2011, the country has been Continue Reading
Finance officials from the G7 major industrial nations on Tuesday called on “oil-producing countries to support international efforts to promote global economic stability,” as the collapse in crude prices threatens Continue Reading
Oil and gas companies are cutting spending plans in response to the new coronavirus and a push by Saudi Arabia and Russia to ramp up output. International benchmark prices LCOc1 Continue Reading
Declining refining margins for transport fuels such as gasoline and jet fuel have impacted demand for lighter crude grades in Asia, with the value of premium grades such as Abu Continue Reading
Early figures are suggesting that the outbreak of Covid-19 could have a significant impact on global oil demand, with Arij van Berkel, a director at US-based research firm Lux Research Continue Reading
The hit would amount to a more than 40 percent fall in revenues from 2019, Iata, the industry trade body warned on Tuesday. It is up from a prediction of $113bn Continue Reading
India’s prime minister ordered all 1.3 billion people in the country to stay inside their homes for three weeks starting Wednesday — the biggest and most severe action undertaken anywhere Continue Reading
India’s decision on Tuesday to lock down over a billion of its people could pose a grave threat to South Korean and Chinese gasoline exporters as a potential downfall in Continue Reading
American firms in China are increasingly pessimistic about how quickly they can rebound from the coronavirus, with less than a quarter back at normal work levels. The outbreak and the government’s Continue Reading
Brazil’s President Jair Bolsonaro patched up a diplomatic spat with China on Tuesday in a call with President Xi Jinping, with the two agreeing to fight the spread of coronavirus Continue Reading
U. S. and European leaders are looking at China’s progress in curbing the coronavirus pandemic to guide them on how to beat the virus within their own borders. They may Continue Reading
Wuhan, the Chinese city hardest hit by the novel coronavirus outbreak, will lift outbound travel restrictions from April 8 after over two months of lockdown, local authorities said Tuesday. People in Continue Reading
US oil group Chevron is to make sweeping cuts to its spending plans for this year and will abandon its $5bn share-buyback program, saying the move would protect its dividend Continue Reading
The United States could become the global epicenter of the coronavirus pandemic, the World Health Organization said on Tuesday, as India announced a full 24-hour, nationwide lockdown in the world’s Continue Reading
Oilfield services firm Halliburton ( HAL.N ) is accelerating its cost-cutting and will significantly reduce spending this year below its original $1.2 billion budget, its finance chief said on Tuesday. Continue Reading
U.S. stocks rallied sharply Tuesday, with the Dow surging to its biggest one-day gain in more than 85 years on signs that lawmakers and the Trump administration were nearing a Continue Reading
President Trump said he hopes to have the country reopened in just over two weeks, a timeline that is dramatically sooner than what many public-health experts have recommended to help Continue Reading
China is sending doctors and medical supplies to Italy and other countries that have been hit hard by the coronavirus. WSJ’s Eric Sylvers in Milan explains how China is using Continue Reading
Last year, the energy industry was rocked by record bankruptcies and write-downs that did not spare even the oil majors. According to Energy and Restructuring law firm Hayes and Boone’s Continue Reading
The Trump administration’s plan to buy up to $3 billion of US crude oil to fill the Strategic Petroleum Reserve remains a bone of contention holding up Congress’ economic aid Continue Reading
