Funding for President Donald Trump’s plan to fill up the nation’s emergency oil reserve to help struggling drillers cope with the price crash failed to make it into the latest stimulus legislation but could return in other forms.
Work in U.S. oil fields has plunged to the lowest in at least four years, according to the Federal Reserve Bank of Dallas.
The oil producer is cutting salaries for its U.S. employees by up to 30% in a bid to slash expenses, as it faces plunging oil prices and falling demand due to a halt in economic activity because of the new coronavirus.
From Canada and the Caribbean to the Baltic and Singapore, oil tanks around the world are filling fast, despite a 50-100 per cent jump in lease costs, as oil companies and traders scramble to park unwanted crude and refined products.
Before bailing out frackers, some sacrifices should be made.
A few months ago, this page featured the Bentley Bentayga Speed, a 635 horsepower SUV with the thrust of a supercar and thirst of a supertanker.
Occidental Petroleum Corp. agreed to a truce with activist investor Carl Icahn, ending a bitter 10-month campaign by the billionaire activist investor to fire the board and seize control of the company.
The oil and gas industry faces its worst downturn in 20 years as a price war rages between Saudi Arabia and Russia and coronavirus dampens demand
…The shale revolution that made the US the world’s biggest oil and gas producer and offered the prospect of energy self-sufficiency has run out of steam, as drillers slash spending and production in…
While quite a lot has went down since I wrote my initial article on the viability of Matador Resources Company (MTDR), my initial investment thesis remains unimpaired.