Major oil companies’ first-quarter results have so far confounded expectations, but volatile trading operations and a likely fall in production mean the good times are unlikely to last. Europe’s big Continue Reading
BP said on Tuesday it could cut capital spending further after reporting an 80 percent drop in profits in the first quarter of the year, when oil prices touched a Continue Reading
British energy company BP says it expects its production during the second quarter will move lower and markets will return to balance by the end of the year. Photo by Continue Reading
Oil and gas companies are turning to digital technologies to lower costs and improve efficiency as the industry struggles with low energy prices. Information technology budgets have decreased by 10% Continue Reading
Oil rig at sunset image via shutterstock . Reproduced on Resilience.org with permission. It’s not looking good for the global fossil fuel industry. Although the world remains heavily dependent on Continue Reading
In a brutally frank and painfully honest first quarter operational update, Halliburton president Jeff Miller poured freezing cold water all over the “oil is stabilizing, and everything is going to Continue Reading
An extensive new scientific analysis published in Wiley Interdisciplinary Reviews: Energy & Environment says that proved conventional oil reserves as detailed in industry sources are likely “overstated” by half. According Continue Reading
Halliburton Co said on Friday that it reduced headcount by more than 6,000 during the first quarter due to the prolonged slump in oil prices. The oilfield services provider said Continue Reading
The number of U.S. oil-drilling rigs, viewed as a proxy for activity in the sector, has fallen sharply since oil prices began to fall. But it hasn’t fallen enough to Continue Reading
After reporting a string of lost contracts, rig company Transocean said it landed three new contracts for work largely in offshore Asia and Latin America. The company said in its Continue Reading
