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Oilfield Services Stocks Show Resiliency

Here is a recap oil and gas market hits and misses for the week ending March 5, 2021. (The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.) To borrow some expressions from the world of boxing, oilfield services (OFS) stocks this past year have sustained “body blows,” demonstrated that they are “down but not out,” and have become “contenders” in terms of market capitalization. Such is the message that one of Rigzone’s regular oil and gas market-watchers conveys, and he even uses some boxing terms of his own. Read on for his perspective, along with other insights about recent market developments.

Platts Apologizes to Oil Traders

OPEC+ Surprise Triggers Oil Price Surge

DOE Announces New Senior Leadership Appointees

The U.S. Department of Energy has announced new senior leadership appointees. The U.S. Department of Energy (DOE) has announced new senior leadership appointees, which it says will help the agency deliver on the Biden administration’s bold climate agenda to create an equitable clean energy future for the American people. Jigar Shah will serve as the director of the loan programs office - which oversees the DOE’s more than $40 billion in loan authority across manufacturing, innovative finance, and tribal energy projects - and Karen Skelton will serve as a senior advisor to the secretary of energy Jennifer M. Granholm.

UK Oil Sector Welcomes Chancellor s New Measures

The UK oil and gas industry has welcomed new measures announced by the UK Chancellor of the Exchequer in his latest budget. The UK oil and gas industry has welcomed new measures announced by the UK Chancellor of the Exchequer in his latest budget. That’s according to industry body Oil & Gas UK (OGUK), which noted that close cooperation with the sector is essential to maximize its “world-leading expertise and assure a successful green energy transition”. OGUK said the combination of taxation and investment measures offers a potentially strong route to transition energy and employment ahead of the “much anticipated and crucial” North Sea Transition Deal that it is currently negotiating with the government.

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