Yahoo Finance OPEC+ will consider cutting oil output by more than 1 million barrels a day, according to delegates, when it meets in person on Wednesday for the first time in more than two years. A larger-than-expected reduction would reflect the scale of the producer group’s concern that the global economy is slowing in the face of rapidly tightening monetary
Oil and Gas 360 HOUSTON–(BUSINESS WIRE)–SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) today provided an update on actions taken in response to the unprecedented global health and safety events impacting the oil and gas market. Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “The safety of our employees, contractors, and partners in the communities in which we operate remains
Houston Chronicle Irving oil company Pioneer Natural Resources is cutting its 2020 budget in nearly half as crude prices slipped below $30 per barrel. The exploration and production company said late Monday afternoon that it plans to spend between $1.7 billion to $1.9 billion on drilling, hydraulic fracturing and other capital projects in 2020. The figure marks a 45 percent
Oil and Gas 360 CALGARY, Alberta, Dec. 04, 2019 (GLOBE NEWSWIRE) — Commenting on the Company’s 2020 budget, Steve Laut, Executive Vice-Chairman of Canadian Natural stated, “Canadian Natural’s ability to generate significant and sustainable free cash flow sets us apart from our peers. Our focus on capital discipline, as a part of our four pillars of capital allocation, operational excellence
From Reuters The Mexican government will propose an additional tax reduction for heavily indebted state oil company Pemex [PEMEXF.UL] in the nation’s 2020 budget, President Andres Manuel Lopez Obrador said Thursday, the latest measure to strengthen the company. Lopez Obrador has pledged to revive Pemex, whose $106 billion debt is the largest for any oil company in the world. In
Marathon nixes coking unit in Louisiana – loss of supply from Venezuela, Canada, OPEC narrows price differential From Reuters NEW YORK (Reuters) – U.S. refiners had a plan for 2020: use their complex operations to maximize profits by making products that would comply with new international laws capping sulfur content in shipping fuels. But after a series of unexpected market
Royal Dutch Shell (ticker: RDS.A) CEO Ben van Beurden had some things to celebrate in his company’s year-end reporting today. “We were able to deliver $39 billion of cash flow from operations excluding working capital movements from our upgraded portfolio. We strengthened our financial framework during the year through an $8 billion reduction in our net debt…,” the CEO said
