Jennifer Hiller
Jennifer Hiller
CRITIC
img-contested
N/A
0 reviews
PUBLIC
img-contested
N/A
0 reviews

RECENT ARTICLES

Sort by:
No Rating
As power returns, Texas energy firms slowly emerge from deep freeze

As power returns, Texas energy firms slowly emerge from deep freeze

By , HOUSTON (Reuters) - Texas energy companies on Friday began preparing to resume oil and gas production after days of frozen shutdowns as electric power and water service slowly resumed at darkened oilfields and refineries.It will take several days for oilfield crews to de-ice valves, restart systems and begin oil and gas production. U.S. Gulf Coast refiners are assessing damage to facilities. They face up to three weeks to restore most production, analysts said, with low water pressure, gas and power losses hampering operations.The restart of production as temperatures eased sent prices...

Feb 19
Share
Save
Review
No Rating
Biden drilling ban forces Democratic-led New Mexico to reckon with oil dependence

Biden drilling ban forces Democratic-led New Mexico to reckon with oil dependence

By , , (Reuters) - When Stan Rounds heard about U.S. President Joe Biden’s plans to suspend new drilling on federal lands to fight climate change, he worried about the education budget.Rounds heads a state association of school administrators. He knows that New Mexico - home to the country’s richest oil fields on federal lands - depends heavily on drilling revenues to finance its struggling public schools. And budgets have already taken a hit from falling crude prices as the coronavirus pandemic sapped global fuel demand.“While you appreciate the green policies for environmental issues, you...

+1
Feb 9
Share
Save
Review
No Rating
U.S. shale producers lock in future sales as oil prices rise to one-year high

U.S. shale producers lock in future sales as oil prices rise to one-year high

By , NEW YORK/HOUSTON (Reuters) - U.S. shale producers are taking advantage of the oil market’s rally to levels not seen in nearly a year by locking in prices for future sales, sources familiar with the matter said.Slideshow U.S. crude futures this month jumped above $50 a barrel to the highest since February. The rally has sparked optimism among shale companies, but after a bracing year of pandemic-induced demand destruction, they are not ready to ramp up production. Instead, they are using futures markets to lock in higher sale prices.Shale producers buy and sell contracts in the futures...

+1
Jan 15
Share
Save
Review
No Rating
Chevron, Exxon shrink spending as coronavirus cuts demand

Chevron, Exxon shrink spending as coronavirus cuts demand

By , , Exxon posted its third straight quarter of losses on Friday and reduced spending plans for the coming year.In common with others in the sector, the two are laying off a substantial portion of their workforce and expect to cut costs further as they try to reverse years of weak stock performance, worsened by the impact of movement restrictions.The outlook for energy consumption “depends on when the world - this country and other countries - get control of the pandemic and those activities resume. We don’t know when that’s going to be,” said Chevron Chief Financial Officer Pierre...

+1
October 30, 2020
Share
Save
Review
No Rating
Exxon Mobil 'very close' to disclosing U.S., Canada job cuts, says CEO

Exxon Mobil 'very close' to disclosing U.S., Canada job cuts, says CEO

By The second-largest U.S. oil company by market value lost nearly $1.7 billion in the first six months and analysts forecast a third-quarter $1.17 billion loss, according to IBES data from Refinitiv.The job cuts are part of a plan unveiled this spring to redesign how Exxon works and to increase competitiveness, CEO Darren Woods said in an email to its nearly 75,000-person workforce.Exxon has exceeded a target of reducing operating expenses by $1 billion and capital budget spending by $10 billion, he wrote. But the COVID-19 pandemic has cut oil demand by about 20%, he said, delivering a...

October 22, 2020
Share
Save
Review
No Rating
U.S. shale mergers accelerate, as Pioneer-Parsley deal joins roster

U.S. shale mergers accelerate, as Pioneer-Parsley deal joins roster

By , HOUSTON/NEW YORK (Reuters) - Consolidation in the U.S. shale industry is accelerating, ratcheting up pressure on oil and gas producers to gobble up smaller rivals, analysts and executives said.Pioneer Natural Resources Co, one of the largest independent shale operators, joined the ranks of dealmakers as it announced on Tuesday a low-premium $4.5 billion buyout of Parsley Energy Inc.The coronavirus pandemic has slashed oil demand and forced struggling shale producers to cut costs. Crude prices have slid about a third this year but drillers still must invest to maintain the same rate of...

+1
October 20, 2020
Share
Save
Review
No Rating
Chevron to buy Noble for $5 billion in stock, biggest oil deal since price crash

Chevron to buy Noble for $5 billion in stock, biggest oil deal since price crash

United States HOUSTON (Reuters) - Chevron Corp () said on Monday it would buy oil and gas producer Noble Energy Inc () for about $5 billion in stock, the first big energy deal since the coronavirus crisis crushed global fuel demand and sent crude prices to historic lows. The oil price crash has decimated shares of many energy companies, making them attractive targets for those that have weathered the downturn and have the resources to buy. Chevron ended the first quarter with a cash pile of $8.5 billion after withdrawing a $33 billion bid for Anadarko last year and then being among the...

July 20, 2020
Share
Save
Review
  • Total 7 items
  • 1
OUTLETS
reuters.com

reuters.com

CRITIC
img-trusted
100%
PUBLIC
img-trusted
75%