Occidental Petroleum Corp. reported a $6.6 billion writedown in the second quarter, equivalent to more than 40% of its market value, as the collapse in energy prices took its toll on the debt-laden U.S. shale oil producer.
Schlumberger delivered another crushing blow to the oil and gas industry today by announcing it was cutting around a fifth of its workforce.
Aberdeen should use a giant decommissioned oil platform as a "first class tourist attraction", according to a long-standing city campaigner.
The coronavirus pandemic stung oilfield service company Halliburton with a $1.7 billion (£1.3bn) loss in the second quarter.
Oil field service company McDermott International shed $4.6 billion debt after emerging from bankruptcy Monday afternoon.
The oil and natural gas capital of the world is going all-in on solar power.
Business events linking Aberdeen and Houston in the US have significantly extended their reach by going 100% digital, the man behind the annual tie-ups has said.
Quantum Energy Partners is in discussions to raise roughly $5.5 billion for a new fund designed to pounce on opportunities that arise amid turmoil in energy markets, according to people with knowledge of the matter.
Houston oil field services company Halliburton has laid off 1,000 employees at its headquarters as low crude prices take their toll on demand for the products and services to company sells to energy producers.
The US oil industry has been shrinking in much the same way as the country’s car industry – and the price crash will accelerate the process, according to a top economist.
A controlled fire at Royal Dutch Shell Plc’s refinery near Houston cast a plume of black smoke over the city’s industrial suburbs.
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.
The annual Offshore Technology Conference (OTC) in Houston has been cancelled due to the Covid-19 pandemic.
The annual Offshore Technology Conference (OTC) in the US has become the latest business event casualty of the Covid-19 pandemic.
Energy companies swiftly slashed spending and dividends after oil prices on Monday suffered their biggest one-day decline in 30 years.
The price of crude oil plunged below $42 per barrel Friday, threatening thousands of Houston-area jobs if the price languishes there for several months, an economist says.
Most people whose home and business were swept away by a hurricane would be stopped dead in their tracks, consumed by the disaster.
Valero Energy Corp. said Thursday it finished 2019 with earnings of $2.4 billion, down more than 22 percent from the prior year, which the company attributed to higher prices it paid for sour crude and high gasoline inventories.
Helicopter operator Bristow has announced plans to merge with US rival Era, three months after emerging from Chapter 11 bankruptcy.
Ataria Malveaux was 18, just out of high school, when she fled a chaotic family life in Houston for the promise of making quick money in Dallas. She soon discovered her would-be employer was a pimp; only the help of another woman allowed her to escape forced prostitution.
Reuters DecomWorld confirm over 30 international E&P’s to Join 12th annual decommissioning summit in Houston, 2020
DecomWorld – part of Reuters Events- today announced the confirmation of over 30 international E&P delegations to attend their 12th Annual D&A Summit (March 31 – 1 April, Houston).
Pre-tax earnings at Halliburton were nearly halved in the first nine months of 2019 amid asset impairments and write-downs of its Venezuelan investments.
A Houston energy investment firm has been fined $1.5 million by the U.S. Commodity Futures Trading Commission for trading against its own customers.
The Houston Ship Channel was partially shut Thursday after Greenpeace activists suspended themselves from a bridge spanning the key oil route in protest against the fossil fuel industry.
Jim Crane, the former All-American pitcher who owns the Houston Astros, was voted off of Nabors Industries Ltd.’s board by shareholders. The world’s biggest owner of land-drilling rigs says it wants him to stay.