Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
More oil and gas companies are expected to file for bankruptcy this year as the coronavirus pandemic continues to depress energy demand.
By the end of the third quarter, most U.S. oil producers plan to restore nearly all of the production shut down during the oil crash, according to a new report.
Job losses related to the coronavirus pandemic are approaching the 100,000 mark for US oilfield services companies as layoffs continued to mount in July.
President Donald Trump on Monday downplayed “phony polls” showing a tight presidential race in Texas, saying he’s way ahead because he “saved the oil industry,” and later adding, “I created it.”
Demand for hydraulic fracturing services in shale plays across the United States is expected to reach rock bottom in May and stay low in the summer before a recovery begins in the fall, the Norwegian global energy research firm Rystad Energy reported.
When the pandemic is all over will society go back to driving cars and hopping on planes with nary a worry as it did just two short months ago?
Schlumberger, the largest oil-field service company in the world, lost $10.1 billion in 2019 as a result of hefty write-downs on two past acquisitions and weakening demand for hydraulic fracturing services in the United States and Canada.
More than half a billion tons of additional greenhouse gas emissions per year — equivalent to 8 percent of total U.S. emissions — may be generated by new oil, gas and petrochemical facilities in Texas and Louisiana, University of Texas researchers estimate.
The top Big Oil operators in the Gulf of Mexico said Tuesday they are evacuating workers from most of their deepwater platforms in response to this hurricane season's first looming disturbance in the area.
The cause of the dayslong chemical fire at a Deer Park plant remains under investigation as emergency crews douse what's left of the now-extinguished blaze and prepare for clean-up, company officials said Wednesday.
The state of the Houston energy sector might be summed up in one word: Meh.
At least one worker remains in critical condition after an explosion at a natural gas pipeline sent seven people, including two firefighters, to the hospital Wednesday.
The federal government charged Houston-based Energy XXI founder John Schiller on Monday with failing to disclose more than $10 million in personal loans and perks from corporate vendors and board members in exchange for contracts and appointments.
Natural gas-fired power plants are expected to supply 37 percent of the US's electricity generation this summer, near the record set two years ago, the Energy Department reported Wednesday.