China’s crude oil output up 1.3 pct in May
China’s crude oil output rose 1.3 percent year on year to 16.46 million tonnes in May, quickening from an increase of 0.9 percent registered in...
Oilfield companies will always put the bottom line first
It’s all about the profit margins We live in a capitalist country after all. so we shouldn’t be surprised when companies layoff thousands of workers...
Halliburton goes on survival mode – slash quarterly dividend
Halliburton Company recently announced that the board of directors decided to slash quarterly dividend for the second quarter of 2020 by 75%. Cutting spending again....
Thousands of oil wells have been shut in
Something that was considered unthinkable in the past is now a reality all across the U.S oilpatch. Across the Permian Basin that is West Texas...
Earnings Report & Marathon Oil (MRO) laid off 16% of its workforce
Marathon Oil (MRO) missed views and laid off 16% of its workforce, while halting dividend payments and buybacks. It also cut its 2020 capital spending...
EOG expects to have six rigs for the remainder of 2020
EOG Resources, Bill Thomas. Second Quarter and Full Year 2020 Forecast We entered this downturn in a position of operational and financial strength, and the...
Who won this oil price war?
As OPEC + promotes production cuts, and US oil producers reduce production, and countries around the world gradually relax restrictions on corona outbreaks, investors’ expectations...
Crude Oil jumps 5%, posting second straight week of gains
Oil prices rose on Friday and were on course for a second consecutive week of gains as U.S. producers rapidly shut crude production and more...
Russia’s unwillingness to lose market share pays off?
For Russia, it’s the unwillingness to lose market share has paid off, but for the U.S? within a month five US oil and gas companies...
Saudi Arabia raises crude oil prices
Demand worries are lingering, yet Saudi Arabia has increased crude oil prices, and U.S. oil prices fell more than 3%. Earlier in the day, after...
Liberty was built to survive tough times?
Chris Wright — Chief Executive Officer and Chairman during his Earnings Call. Our industry has been hit with two large shocks since our last quarterly...
U.S. To Withdraw American Patriot Missiles From Saudi Arabia
U.S. To Withdraw Patriot Missiles From Saudi Arabia and is considering reductions to other military capabilities. “Saudi Arabia is a very wealthy country and they’ve...
Mexico’s production costs at priority fields are below $5/bbl
Executives at Pemex said they have now achieved their goal of stabilizing years of declines in oil production and that the company is “on a...