Tuesday, February 3, 2026
U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count increased by 9 this week, at 296

Oil and Gas 360 This week’s Baker Hughes rig count shows that U.S. had an increase of 9 over last week, resulting in a total count of 296 rigs. Canada had an increase of 3 over last week, resulting in a total Canadian count of 86 rigs. Breakdown by region Of the regions tracked by Baker Hughes, 3 regions, the

Chevron, Exxon shrink spending as coronavirus cuts demand- oil and gas 360

Chevron, Exxon shrink spending as coronavirus cuts demand

Reuters U.S. oil majors Chevron Corp CVX.N and Exxon Mobil Corp XOM.N cut spending aggressively in the third quarter in a race to offset weak trends in fuel demand caused by the COVID-19 pandemic, though the former managed a slim profit. Exxon posted its third straight quarter of losses on Friday and reduced spending plans for the coming year. In common with others in

Putin decrees development of Arctic with more nuclear icebreakers – This will help Russia cash flow from fossil fuels.

WNN Oil & Gas Publishers Note: These large investments will help Russia maintain the cashflow from fossil fuels which make a substantial portion of their GDP.  Russian President Vladimir Putin has signed an executive order, On the Strategy for Developing the Russian Arctic Zone and Ensuring National Security until 2035, which foresees the construction of at least five new nuclear-powered icebreakers of the Project 22220