Oil prices have nosedived quite a few times in recent years. Each tumble has blown a hole in the cash flows of oil companies, causing their…
Tag: 2020 Crude Oil Crash
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. banks are preparing to start seizing the shale oil assets of companies
U.S. banks are preparing to start seizing the assets of ailing shale oil companies, Reuters reported today. Major U.S. lenders are preparing to become operators…
OPEC EMERGENCY MEETING
OPEC and its allies will likely postpone the emergency meeting to April 8 or 9, sources say. A meeting of the Organization of the Petroleum…
Trump has meeting with top oil executives
President Donald Trump said that the U.S. will “get our energy business back,” as he met with oil executives from at least seven companies amid…
Brent Crude Falls to 17-Year Low
Crude crashed to its lowest in 17-years as virus lockdowns cascade through the world’s largest economies. The market has been roiled by cratering demand and…
China’s Sinopec cuts 2020 capital spending by 2.5%
Asia’s top refiner China Petroleum & Chemical Corp, or Sinopec, will trim capital expenditures in 2020 by 2.5% from a year earlier amid plunging oil…
Mainstream media is just catching on to the harsh reality of oil
With world running out of storage, crude oil prices in tailspin Global oil prices continue to be in a tailspin amid nationwide lockdowns to stop…
THE U.S WILL HAVE NO CHOICE BUT TO SHUT IN WELLS
Oil industry braces for biggest idling of wells in 35 years. The U.S is running out of places to store it’s vast amounts of oil…
Oops – US suspends plans to buy oil after funding is left out of $2 trillion stimulus package
The U.S. Department of Energy is suspending its plans to buy crude for the country’s Strategic Petroleum Reserve after the requested $3 billion in funding…
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,…
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) —…