U.S. oil major Chevron Corp on Thursday cut billions off its long-term capital and exploratory budget even after a major restructuring of its operations as it tries to ride out a collapse in oil prices and preserve its dividend.…
U.S. oil and gas producer Hess Corp on Thursday introduced deeper spending cuts after reporting a quarterly loss due to impairment charges of $2.25 billion on some oil-producing assets amid the coronavirus crisis.
Stay-at-home orders designed to contain the …
LONDON- The world’s biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia …
Two of the world’s biggest oilfield service companies are warning of a bigger shale crash than the one that hit the U.S. and Canada just five years ago.
While the decline in North American drilling rigs could approach …
As markets for energy companies’ bonds crater on lower crude oil prices, bond analysts offer one big piece of comforting news amid the chaos: Very few major energy companies have any debt due before next year, when the crisis …
U.S. oil and gas producer Devon Energy Corp on Thursday cut its 2020 spending forecast by $500 million or nearly 30% to about $1.3 billion, joining its shale peers as the industry battles a slump in crude prices. Shale …
HOUSTON – Vastly slower U.S. oil growth this year and the prospect of a plateau for the world’s top oil producer have signaled a new and unfamiliar era of self-restraint for the go-go shale industry.
Spending cuts and production …
