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.
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  • Mexico Refuses to Cut Oil Output

    Pemex aims to nearly double drilling to 423 wells this year and accelerate development of 15 recent discoveries.
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  • Shale 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.
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  • Oil 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.
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  • Marathon 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.
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  • Who 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.
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  • Ineos Delays FPS Shutdown to Spring 2021

    Ineos FPS revealed Tuesday that it has postponed its Forties Pipeline System summer shutdown to spring 2021.
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  • US 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.
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  • New 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.
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  • Oil 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.
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  • North American Associated Gas Output Could Fall 10 Bcfd

    IHS Markit sees big changes on the horizon for the North American natural gas supply.
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  • ExxonMobil Cuts $10B from 2020 Capex

    The supermajor is lowering its 2020 capital spending by 30 percent and its cash operating expenses by 15 percent.
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  • Energy 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.
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  • SandRidge Names New CEO to Lead Right-Sizing Efforts

    The new exec has proven cost and operational turnaround experience at public oil and gas companies.
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  • Plains Cuts Capital Program by 33 Percent

    The company also closed an asset sale for $165 million.
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  • Abraxas Petroleum Falls Out of Compliance With NASDAQ

    The company failed to file its Form 10-K for the period ended Dec. 31, 2019.
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  • Vallourec, Universal Pressure Pumping Add to Oilpatch Layoffs

    Combined, the companies are releasing about 1,080 workers.
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  • Oxy 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.
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  • Crude Oil Dives on Output Cut Worries

    Oil sank to the weakest level since the start of the month.
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  • Demand for Gasoline Is Plummeting Globally

    US gasoline demand has collapsed as stay-at-home orders keep drivers off the road.
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