News

Oil & Gas

Reuters | Equities.com |

HOUSTON (Reuters) - Occidental Petroleum Corp on Tuesday swung to a first quarter loss on writedowns and charges, and the troubled U.S. oil producer cut its budget for the third time since March in response to a historic oil-price crash. The company has been struggling with debt taken on in last year’s $38 billion acquisition of Anadarko Petroleum, an ill-timed bet on rising shale oil prices ahead of a market dive. Global energy demand has tumbled amid coronavirus-related travel and business...


AP News | Equities.com |

NEW YORK (AP) — Profits fell at Exxon Mobil as the global pandemic began to erode oil demand.The Irving, Texas oil giant lost $610 million in the first quarter, down 126% from the same time last year, the company said Friday.Revenue was $56.16 billion, down 12% from the same quarter in 2019.Fewer people flew or drove as the world fought to contain the spread of COVID-19, decreasing the need for jet fuel and gasoline. That resulted in oversupplied markets and unprecedented pressure on prices an...


AP News | Equities.com |

The company began work over the weekend at the US-Canada border crossing in northern Montana on the long-stalled pipeline.


AP News | Equities.com |

A global glut in production, coupled with an economy reeling from the coronavirus pandemic, has sent energy prices to lows not seen since 2002.


Michael McTague | Equities.com |

In the conclusion of this series, we examine Nigeria, a country whose infrastructure undermines its ability to move forward as an economic powerhouse.


Reuters | Equities.com |

Oil prices have collapsed, driven by a slump in demand because of the coronavirus crisis and a price war between Saudi Arabia and Russia.


AP News | Equities.com |

Countries report surging numbers of COVID-19 infections, forcing prolonged shutdowns of travel and business.


Reuters | Equities.com |

The industry is reeling from a demand and price collapse caused by the coronavirus pandemic and an emerging price war.​


Stephen L Kanaval | Equities.com |

China may have booked an estimated five U.S. cargoes totaling 220,000 metric tons, according to sources.


Stephen L Kanaval | Equities.com |

"Phillips 66 is well-positioned to manage through the challenging environment," said Greg Garland, chairman and CEO of Phillips 66