Energy majors are hoping for the best but preparing for the worst. Oil and gas companies are among some of the world’s biggest and best capitalized businesses now scrambling for Continue Reading
Only about 20% of land-based storage for the product remains — about 50 million barrels — while airlines cut flights, according to Vienna-based consultant JBC Energy GmbH. A collapse in air Continue Reading
Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said Continue Reading
One of the most painful busts in the history of crude oil happened just six years ago when a sharp price drop cost 200,000 roughnecks, almost half the entire workforce, Continue Reading
Just weeks ago, Occidental Petroleum Corp. Chief Executive Vicki Hollub sought to reassure investors that her bold bet on U.S. shale oil—a $38 billion deal for rival Anadarko Petroleum Corp.—hadn’t Continue Reading
The U.S. shale industry is burning through cash so fast that even the state of Texas is looking at government rationed production targets. Texas Railroad Commissioner Ryan Sitton laid out Continue Reading
Since 2016, as an informal leader of the 13-strong non-OPEC group, Russia has been instrumental in the pricing of oil as Saudi Arabia, leading producer in the Organization of Petroleum Continue Reading
he U.S. government will buy 30 million barrels of oil from producers amid a financial downturn for the industry. The Department of Energy (DOE) announced Thursday it would conduct the Continue Reading
Oddly named and highly powerful, the Texas Railroad Commission is weighing whether the state should curb crude production for the first time in almost half a century. At issue is Continue Reading
Oil drilling in the Permian Basin plunged to its lowest level since the nadir of the last crude-market slump in early 2016. Explorers idled 13 rigs this week in the most-prolific North Continue Reading
