Saudi Aramco is shelving multi-billion-dollar petrochemical and gas projects as the state oil giant’s determination to preserve its dividend despite a crash in energy prices forces it to cut back on major investments.
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.
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.
Plans for a major Aberdeen oil tourism site from over 30 years ago could be "resurrected" by a new rig idea for the harbour, according to a business leader.
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.
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.”
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.
Environmental officials in Texas and other western states are moving ahead on plans to allow oil and gas companies to treat drilling wastewater and discharge it into rivers and streams, even as the Trump administration balks at endorsing the practice amid widespread questions about public health effects.
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.
U.S. oil prices aren’t expected to repeat last month’s unprecedented collapse into negative territory, industry experts say, because the nation’s stockpile has slowly decreased, easing a storage crisis, while traders “learned their lesson.”
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?
Three of the largest drilling rig operators in Texas are making budget cuts and bracing for the worst as a global glut of crude oil and falling demand due to the coronavirus pandemic are expected to cause the U.S. rig count to plummet.
The oil and natural gas industry practice of burning surplus gas from oil wells, or flaring, has reached levels not seen in Texas since the 1950s, a report released Tuesday by Railroad Commissioner Ryan Sitton states.
A Midland legend passed away Friday night.
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.
A deal by the US and China goes some way to ending the two-year trade war, with particular support in the agreement for agriculture and energy exports.
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.
The birthplace of the shale industry is losing the last of its top industry players after Devon Energy agreed to sell its remaining position in the Barnett shale for $770 million.
Federal officials have approved permits for three new liquefied natural gas export terminals in the Rio Grande Valley and the expansion of another in Corpus Christi.
Petrofac has announced new contracts and extensions in the North Sea and Malaysia worth £93m, as well as an acquisition marking its entry to the US onshore services market.
A north-east man is being sued by oilfield services giant Schlumberger for $1million after they claimed he left the firm to work for a rival.
The threat of war in the Middle East is pushing oil prices higher again, capping one of the most dramatic ever weeks for crude in which 5% of the world’s supplies were cut by attacks on Saudi production facilities.
President Donald Trump scoffed yet again at a source of electricity championed by his own energy secretary, saying wind power doesn’t work “all that well.”