Oil stocks tumbled following yesterday’s one-two punch of Biden energy news, when first we learned that the Interior Department enacted a 60-day moratorium on issuing oil and gas leases that Continue Reading
The companies that carry out the oil industry’s grunt work have signaled that the worst crash in decades is over but cautioned that the sector was still many months away Continue Reading
The largest oilfield services provider, Schlumberger ( NYSE: SLB ), reported on Friday better-than-expected earnings for the fourth quarter and, like its rivals Halliburton and Baker Hughes, expects spending and Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 5 to 378. The oil and gas rig count has risen Continue Reading
Last year was tough for the global oil industry as the COVID-19 pandemic and an ongoing oil supply glut rocked petroleum-dependent emerging economies, notably in South America, to their core. Continue Reading
U.S. President Joe Biden’s promised ban on new oil and gas drilling on federal lands would take years to shut off production from top shale drillers because they already have Continue Reading
Oilfield services provider Baker Hughes ( NYSE: BKR ) booked its first quarterly net profit since oil prices crashed in March, reporting on Thursday a net income of $653 million Continue Reading
The US oil and gas rig count rose by six to 430 in the week ending Jan. 20, rig data provider Enverus said, as indicators ahead of the quarterly round Continue Reading
The US Interior Department on Jan. 20 put new oil and gas lease sales and permits on federal lands and waters on hold for 60 days, according to an order Continue Reading
U.S. shale changed global oil markets. It shook the foundations of OPEC as the one single swing producer group. And last year, it crumbled under the weight of the pandemic Continue Reading
