houston

Americas

Oil bankruptcies rise in the third quarter

The number of bankruptcies in the energy sector rose during the third quarter as the coronavirus pandemic continued to take its toll on the oil and gas industry.

Oil & Gas

ConocoPhillips loses $450m in third quarter

ConocoPhillips lost $450 million in the third quarter as low crude prices and reduced production during the coronavirus pandemic continued to take a toll on the company's bottom line.

Americas

Baker Hughes to write down $15 billion, cut spending

Houston oilfield service company Baker Hughes plans to write down the value of its assets by $15 billion and cut capital spending by more than 20% from 2019 levels as market conditions worsen for the oil and gas industry.