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Announced its updated plans with regard to 2020 capital spending and capital allocation, as it too is adjusting to the new reality in which the oil market has been hit by a near simultaneous demand shock and increase in supply, putting severe pressure on pricing.
Representatives of over seven lakh people directly depending on fishing activities in the State have called for a “fish famine package” and more clarity on what should be done at a time when the country is under a lockdown to fight the spread of COVID-19.
The amount of distressed debt in the U.S. has quadrupled in less than a week to nearly $1 trillion, reaching levels not seen since 2008 as the collapse of oil prices and fallout from the coronavirus shutters entire industries across the globe.
…fund social handouts and mitigate the oil price slump, public finances are also under pressure: economists see a contraction of as much as 5.8 per cent this year. The president has also brushed off the…
Occidental Petroleum Corp., the largest oil producer in the giant Permian Basin, has ceded to activist investor Carl Icahn’s demands and announced deep spending cuts in a bid to survive the steepest crude-price plunge in decades.
Occidental Petroleum reduced its capital spending and cut compensation for staff on Wednesday as the company attempts to shore up its balance sheet.
The U.S. plans to press Saudi Arabia to restrain its scheduled oil production boost by leveraging the kingdom’s status as head of the G-20, according to people familiar with the matter.
…’s economy, which has been battered in recent weeks by a fall in global oil prices after Moscow pulled out of the Opec+ producers deal to support them. The largely incremental moves included an increase in…
The U.S. made its most direct intervention yet in the oil price war between Saudi Arabia and Russia, urging Riyadh to “rise to the occasion and reassure” energy markets at a time of economic uncertainty.