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May 22, 2020

Banks will struggle to generate profits even as the global economy recovers, IMF says- oil and gas 360

Banks will struggle to generate profits even as the global economy recovers, IMF says

May 22, 2020

CNBC WASHINGTON — The beaten-down banking sector will remain under pressure through 2025 even as the economy recovers, the International Monetary Fund said Friday. In its latest “Global Financial Stability Report,” the IMF found banks across nine advanced economies will struggle to generate profits over the next five years as the coronavirus pandemic causes a sustained period of low interest rates. The Fund said

U.S. rig count had an increase of 1 this week, at 255- oil and gas 360

U.S. rig count decreased by 21 this week, at 318

May 22, 2020

Oil and Gas 360 This week’s Baker Hughes rig count shows that U.S. had a decrease of 21 over last week, resulting in a total count of 318 rigs. Canada had a decrease of 2 over last week, resulting in a total Canadian count of 21 rigs. Breakdown by region Of the regions tracked by Baker Hughes, no regions saw

Why bond investors are willing to bet on money-losing Pemex after oil price crash- oil and gas 360

Why bond investors are willing to bet on money-losing Pemex after oil price crash

May 22, 2020

Reuters MEXICO CITY/NEW YORK  – Mexico’s state-owned oil company Petroleos Mexicanos has seen investor sentiment improve in recent weeks despite sky-high debts, a slump in demand and no clear direction about how the government will turn the money-losing driller around. Despite all the risks of holding the world’s largest fallen angel, the ignominious distinction for a company that loses its

U.S. shale bust slams rural economies as oil checks shrivel- oil and gas 360

U.S. shale bust slams rural economies as oil checks shrivel

May 22, 2020

Reuters DeWITT COUNTY, Texas – Royalties from oil pumped on Paul Ruckman’s land allowed the South Texas retiree to build a six-bedroom, seven-bathroom vacation home. He had plenty left over, and donated some of it to Helena, Texas, an 1800s ghost town that draws hundreds to historic buildings and gunfight re-enactments. The worst oil bust in decades has slashed the

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