Tuesday, September 1, 2026
US economy grew at 2.1% rate in fourth quarter- oil and gas 360

US economy grew at 2.1% rate in fourth quarter

CNBC The economy grew by a moderate 2.1% in the fourth quarter of last year, but many economists believe that will be the last positive growth seen for some time as the country endures a sharp contraction due to the impact of the coronavirus. The Commerce Department said Thursday in its third and final look at the fourth quarter that

Drilling rig operators make budget cuts ahead of rig count plummet- oil and gas 360

Drilling rig operators make budget cuts ahead of rig count plummet

Houston Chronicle Three of the largest drilling rig operators in Texas are making budget cuts and bracing for the worst as a global supply glut of crude oil and falling demand due to the coronavirus pandemic are expected to cause the U.S. rig count to plummet. Although exact figures have yet to be released, Helmerich & Payne, the top drilling

Exclusive: Capital One got CFTC waiver after oil price plunge increased swap exposure - sources- oil and gas 360

Exclusive: Capital One got CFTC waiver after oil price plunge increased swap exposure – sources

Reuters WASHINGTON/NEW YORK – U.S. lender Capital One Financial Corp got a waiver from the Commodity Futures Trading Commission (CFTC) after plunging oil prices increased the bank’s derivatives exposure above a key regulatory threshold, according to two sources with knowledge of the matter. On Friday, the CFTC said it would temporarily exempt a U.S. bank from a requirement to register

Oxy enacts pay cuts amid deeper budget cuts- oil and gas 360

Oxy enacts pay cuts amid deeper budget cuts

Houston Chronicle Houston exploration and production company Occidental Petroleum is enacting across pay cuts after making a second round of budget cuts as crude oil prices remain stuck at record lows. Occidental plans to cut $2.5 billion from its capital budget and $600 million from its operating budget. After the cuts, the company plans to spend between $2.7 billion and