April 24 (Reuters) - U.S. energy firms cut the most oil rigs
in a month in April since 2015 with oil prices down over 70%
since the start of the year as steps to curb the coronavirus
pandemic cut global crude demand faster than producers can shut
wells, causing storage tanks to fill...
WASHINGTON, April 24 (Reuters) - The U.S. government is
considering taking equity stakes in U.S. energy companies as it
seeks to help the nation's oil and gas sector amid the
coronavirus outbreak, Treasury Secretary Steven Mnuchin said on
President Donald Trump, speaking at a White House event with
Mnuchin, said he wants to help...
April 24 (Reuters) - Oilfield services provider Halliburton
Co said on Friday it would cease most of its operations
in Venezuela after the U.S. Treasury Department imposed tight
new regulations on oil and gas companies doing business in the
South American nation.
Seeking to increase pressure on socialist President Nicolas
Maduro, the U.S. Treasury late...
LONDON, April 24 (Reuters) - Global oil supplies may be 6%
less than expected by 2030 because of delays to investments by
energy companies in response to falling crude prices due to the
coronavirus crisis, data from energy analysts at Rystad showed.
Oil and gas companies across the world have slashed
investment budgets, exiting...
LONDON, April 23 (Reuters) - U.S. petroleum consumption has
fallen by a third since the economy went into lockdown in March
but showed signs of stabilising last week, according to the
latest weekly figures from the U.S. Energy Information
Lockdown has caused the biggest economic interruption since
the depression of the 1930s and the...
NEW YORK, April 23 (Reuters) - U.S. shale producers,
refiners and pipeline companies are scrambling for cash and face
likely restructuring as they struggle under heavy debt loads
while engulfed in the worst crisis the oil industry has faced.
Fuel demand has tumbled roughly 30% worldwide as the
coronavirus pandemic destroys demand for transport,...
April 23 (Reuters) - Oilfield service firm Patterson-UTI
Energy Inc on Thursday warned investors it would see a
60% decline in activity this year as shale companies slash
spending and halt activity amid an unprecedented decline in oil
The company said it expects to exit the current quarter with
about 70 rigs in operation,...
NEW YORK, April 23 (Reuters) - Oil soared on Thursday,
extending its rebound after major oil-producing nations said
they would accelerate planned production cuts to combat the
dramatic slump in demand due to the COVID-19 pandemic.
Crude prices have had one of their most tumultuous weeks
ever. U.S. West Texas Intermediate crude futures (WTI)
MARACAY, Venezuela/CARACAS, April 23 (Reuters) - Venezuela
has received refining materials via plane shipment from Iran to
help it start the catalytic cracking unit at the 310,000
barrels-per-day Cardon refinery, which is necessary to produce
gasoline, an official said on Thursday.
The shipments mark a new stage in cooperation between the
two OPEC nations that...
WASHINGTON, April 23 (Reuters) - Two Democratic U.S.
lawmakers on Thursday urged the Federal Reserve to reject a
request by the energy industry to be allowed to use funding from
a $600 billion emergency lending facility to pay off their
Senator Edward Markey and Congresswoman Nanette Diaz
Barragán wrote to the Fed after Reuters...