Oilfield services firm Halliburton HAL.N and Russia’s Gazprom have signed an outline agreement on technological cooperation to construct wells at the Achimov oil formation in…
Author: News
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China’s $7 trillion spending spree aims to save economy
Could This be America’s playbook after also following China’s footsteps in calling for mass quarantine? China’s US$7 trillion spending The 22,000 projects include many new…
The U.S Oil industry will see thousands of jobs lost
One of the most painful busts in the history of crude oil happened just six years ago when a sharp price drop cost 200,000 roughnecks,…
Texas Oil Regulator trying to save the Oil industry from itself
Texas’ oil regulator which oversees the nation’s top oil-producing state might immediately force producers to curtail some of their output by shutting off existing wells,…
Continental Resources plans to cut rigs and spending in 2020
Continental Resources on Thursday cut its 2020 capital spending budget by 55%, reports said. Continental Resources said it intends to spend about $1.2 billion in…
OILFIELD LAYOFFS ARE SKYROCKETING IN TEXAS & NORTH DAKOTA
Many companies are proceeding with temporary layoffs due both to crashing oil prices and the spread of the novel coronavirus that causes COVID-19. (Bloomberg) —…
MASS LAYOFFS IN NORTH DAKOTA – TEXAS
John Kilduff, Again Capital founding partner, calls ‘Power Lunch’ to discuss oil plunging into the close and what’s behind the move. John Kilduff, CNBC contributor…
Canada Oil Dominates U.S. Markets – Companies Cut capital spending
The list of Canadian companies cutting 2020 capital spending plans grew longer Thursday with Paramount Resources Ltd. reducing its budget range to between $185 million…
Massive Crash in American Oil is Approaching
Even after a 60% plunge so far this year to the lowest since 2003, prices will likely drop further to $20 a barrel or below,…
Brent crude was up $2.10, or 8%, at $26.98 a barrel
After getting tired of losing Market share to American oil Russia and Saudia Arabie are dumping oil at prices the market hasn’t seen the lowest…
Mnuchin warns U.S jobless rate could hit 20%…
Treasury Secretary Steven Mnuchin raised the possibility with Republican senators that U.S. unemployment could rise to 20% without government intervention because of the impact of…
The U.S. is preparing to start buying 77 million barrels of oil
The U.S. is preparing to start buying as much as 77 million barrels of oil for its emergency stockpiles within the next two weeks, an…
You wanted honesty from Trump? You got it
President Donald Trump said the worst of the outbreak could last until August. He also told reporters the U.S. “may be” heading into a recession….