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In July 2020, just a few months after the COVID-19 pandemic started to spiral out of control, Shell CEO Ben van Beurden declared world oil demand may have passed its peak – all but condemning his company’s core business to eventual obscurity. “Demand will take a long time to recover if it recovers at all,” ...
U.S. oil output may recover to its pre-pandemic peak of around 13 million barrels per day (bpd) in the next few years and likely plateau by 2023 due to underinvestment, John Hess, chief executive of oil producer Hess Corp said. The Permian Basin of west Texas and New Mexico, the largest U.S. oilfield, will drive ...
U.S. oil output may recover to its pre-pandemicpeak of around 13 million barrels per day (bpd) in the next few years and likely plateau by 2023 due to underinvestment, John Hess, chief executive of oil producer Hess Corp said on Tuesday.
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U.S. shale oil producer Pioneer Natural Resources on Monday reported it lost $501 million on oil and gas hedging in the third quarter, according to a securities filing, as energy prices have climbed to multiyear highs.
UPDATE 1-EnerVest Operating to cut 111 staff in Houston - Texas filing Reuters 4 hrs ago Popular Searches By Liz Hampton May 3 (Reuters) - U.S. oil and gas producer EnerVest Operating LLC will dismiss 111 employees in the Houston area, according to a filing with the Texas Workforce Commission. The job cuts will take place in June, the state filing said, and come as some energy firms are still reeling from a crash in prices last year. "These layoffs have been caused by unforeseeable business circumstances outside of the Company's control, including the COVID-19 pandemic and related decreases...