Latest News Headlines
Rigzone.com: Latest News Headlines
The latest oil and gas news from around the world.
Oil Climbs After Russia Indicates Willingness on Production Cuts
Oil is drawing support from investors who are focused on Saudi Arabia and Russia ironing out plans for a global supply-curb agreement.
Read moreMexico Refuses to Cut Oil Output
Pemex aims to nearly double drilling to 423 wells this year and accelerate development of 15 recent discoveries.
Read moreShale Cuts to Fall on Smaller Drillers as Glut Crushes Market
US shale drillers are engaged in a bitter test of wills as sinking oil prices force the weakest operators to retreat.
Read moreOil Demand Slumps in India as Third-Biggest Buyer Shuts Down
Oil demand in the world's third-biggest consumer has collapsed by 70 percent as India endures the planet's largest national lockdown, according to refiners.
Read moreMarathon Will Take Frac Holidays to Cut Spending
The company is reducing spending this year to about half of 2019 levels, joining a parade of shale drillers doing the same.
Read moreWho Is In and Out of OPEC++ Output Deal?
The Organization of Petroleum Exporting Countries and its allies are set to meet by video conference at 4 p.m. Vienna time on Thursday.
Read moreIneos Delays FPS Shutdown to Spring 2021
Ineos FPS revealed Tuesday that it has postponed its Forties Pipeline System summer shutdown to spring 2021.
Read moreUS Will Return to Being Net Importer of Oil
The United States will return to being a net importer of crude oil and petroleum products in the third quarter of 2020, according to the EIA.
Read moreNew Oil Discovery Made in Norwegian Sea
Wintershall Dea revealed Tuesday that it has made an oil discovery at the Bergknapp prospect in the Norwegian Sea.
Read moreOil Up with Impact of Possible Oil Cuts in Focus
Oil rose after a two-day drop as investors weighed whether output cuts being discussed by the world's top producers will be enough to offset the demand destruction wrought by the coronavirus.
Read moreNorth American Associated Gas Output Could Fall 10 Bcfd
IHS Markit sees big changes on the horizon for the North American natural gas supply.
Read moreExxonMobil Cuts $10B from 2020 Capex
The supermajor is lowering its 2020 capital spending by 30 percent and its cash operating expenses by 15 percent.
Read moreEnergy Survey Reflects Steep, Ongoing Activity Decreases
Expectations for future activity also fell, as most firms do not expect energy prices to return to profitable levels this year.
Read moreSandRidge Names New CEO to Lead Right-Sizing Efforts
The new exec has proven cost and operational turnaround experience at public oil and gas companies.
Read morePlains Cuts Capital Program by 33 Percent
The company also closed an asset sale for $165 million.
Read moreAbraxas Petroleum Falls Out of Compliance With NASDAQ
The company failed to file its Form 10-K for the period ended Dec. 31, 2019.
Read moreVallourec, Universal Pressure Pumping Add to Oilpatch Layoffs
Combined, the companies are releasing about 1,080 workers.
Read moreOxy Shuffles Leadership, Appoints New CFO
While the company did not name reasons for the management change, it did note that Cedric Burgher will transition to another Oxy role.
Read moreCrude Oil Dives on Output Cut Worries
Oil sank to the weakest level since the start of the month.
Read moreDemand for Gasoline Is Plummeting Globally
US gasoline demand has collapsed as stay-at-home orders keep drivers off the road.
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