Halliburton Company announced on Monday that it made a net loss of $1.0 billion, or $1.16 per diluted share, for the first quarter of 2020. According to the company, this compares poorly to net income for the first quarter...
Tullow Oil plc on Tuesday announced the appointment of Rahul Dhir as Chief Executive Officer and an Executive Director of the Group. Dhir will take up his appointment from July 1, 2020 and Dorothy Thompson, currently Executive Chair of...
(Bloomberg) The world’s biggest independent oil storage company said that space for traders to store crude and refined fuels has all but run out as a result of the fast-expanding glut that’s been caused by Covid-19.
“The available capacity on...
For perspective, it is not oil price Armageddon. West Texas Intermediate (WTI) May-dated futures contracts, which expire on Tuesday, require futures buyers to take delivery of the oil that is in Cushing, Oklahoma, the largest crude oil storage hub...
U.S. oil prices plummeted in historic fashion Monday, hitting their lowest level on record as traders unloaded positions ahead of the May contract's Tuesday expiration, Yahoo Finance said in a report on Monday.
West Texas Intermediate crude oil futures for...
After three consecutive months of Covid-19 demand destruction and gravity-defying oil prices, operators are finally being forced to shut-in considerable production volumes. Globally, at least 1.9 million barrels per day (bpd) of oil production have been booted offline in...
As the world faces unprecedented destruction in oil demand brought about by the coronavirus pandemic, China has in recent weeks emerged to be the only respite for crude sellers seeking to offload their cargoes, market sources told S&P Global...
(BBC) The price of US oil has fallen to a level not seen since 1999, as demand dries up and storage runs out.
The price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, dropped 19.3%...
Rating agency Moody’s has downgraded Mexico’s debt=laden state oil company Pemex to ‘junk’ which will trigger forced bond sales and increase future financing costs.
Pemex was downgraded two notches to Ba2 from Baa3, with a negative outlook. As a result,...
ConocoPhillips announced on April 16, 2020 that it is taking further actions to respond to the oil market downturn. These actions include capital, operating cost and share repurchase reductions of $3 billion and follow initial actions announced on March...
