Wednesday, September 23, 2020

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Chevron to buy Noble for $5 bln in stock, biggest oil deal since price crash

Chevron Corp said on Monday it would buy Noble Energy Inc for about $5 billion in stock, the first big energy deal since the...

Oil firm BJ Services files for Chapter 11 bankruptcy

The company, which offers hydraulic fracturing of shale wells, said it was in discussions with bidders for sale of its cementing business and portions...

China’s record crude oil storage flies under the radar

China's refineries imported and processed record amounts of crude oil in June, and while these are undoubtedly bullish economic signals, it's worth noting that...

Israel approves pipeline deal to sell gas to Europe

The Israeli government on Sunday approved an agreement with European countries for the construction of a subsea pipeline that would supply Europe with natural...

U.S. refineries see fewer breakdowns in pandemic-cut production

U.S. refineries have sustained fewer mechanical outages as production has fallen because of the coronavirus pandemic in 2020, according to data from energy intelligence...

U.S. oil & gas rig count falls to record low for 11th week

U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for an 11th week in a row...

OPEC+ hits the refinery wall

Fuel traders and refiners are becoming more pessimistic about the outlook for the global economy and transportation for the rest of this year, even...

Oil prices slip amid uncertainty about fuel demand, rising output

Oil prices slipped on Friday amid growing uncertainty about the recovery in fuel demand as coronavirus cases surged in several countries, while major crude producers...

Oil refiners and OPEC+ walk a tightrope as pandemic lingers

High-frequency data from the United States has provided the first convincing indication of global oil market rebalancing, but it also underscores the market’s vulnerability...

Oil giants including Exxon set first joint carbon target

A group of the world's top oil companies including Saudi Aramco, China's CNPC and Exxon Mobil have for the first time set targets to...

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Schlumberger eyes deeper cost cuts as oil rout triggers $3.7 bln charge

Oilfield services giant Schlumberger NV on Friday outlined plans for deeper spending cuts after recording a $3.7 billion charge and a second straight quarterly...

Canada’s Cenovus Energy posts quarterly loss on oil price plunge

Canadian oil and gas producer Cenovus Energy Inc posted a second-quarter loss on Thursday and said the worst was behind the industry after the...

Bounceback in U.S. shale oil output is unlikely to last the summer

A reopening of some major economies locked down due to the coronavirus has lifted global oil prices and encouraged U.S. shale producers to return...

Kinder Morgan posts quarterly loss on $1 bln impairment charge

U.S. pipeline operator Kinder Morgan Inc on Wednesday posted a second straight quarterly loss as it took a $1-billion impairment charge after a steep...