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Already Cheap Crudes May Be Worth Less Than Zero Dollars
Friday, April 03, 2020Here is a review of Rigzone's top articles tied to downstream oil and gas from the past week.

Trump Eyes 10MMbpd Global Oil Cut
Friday, April 03, 2020President Donald Trump is trying to get the world to cut oil production by 10 million barrels a day in an effort to end a market-share war that sent crude prices plunging to the lowest levels in two decades.

Oil's Trump Bump Fades as Doubts Rise
Friday, April 03, 2020Oil slid back below $25 a barrel after a record surge as doubts crept in about a deal touted on Twitter by U.S. President Donald Trump.

Wood Significantly Adjusts Cost Base
Friday, April 03, 2020Wood announced Thursday that it is taking action to 'significantly' adjust its cost base in anticipation of a reduction in activity levels.

Shale Can Shock the World Again
Friday, April 03, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them...

Oil Surges as OPEC+ Prepares for Monday Meeting
Friday, April 03, 2020Oil advanced as OPEC+ scheduled an urgent meeting next week after a historic slump in prices that has crippled the energy sector.

Billions in Oil Royalty Payments at Stake as Trump Mulls Relief
Friday, April 03, 2020The teleconference with independent refiners and oil producers will follow a separate meeting between President Trump and oil industry execs at the White House.

Saudis Have Pricing Problem as Oil War Hits Month Two
Friday, April 03, 2020Saudi Aramco will need to price its crude at aggressively low levels this month to keep its customers satisfied.

Trump Phone Call Reports Surprise Oil Experts
Friday, April 03, 2020Find out what Rigzone panelists view as the top oil market hits and misses for the week ending April 3, 2020.

Former Diplomat Sees Oil War Truce After Summer
Thursday, April 02, 2020Former British diplomat who served in Saudi Arabia for more than a decade offers his perspective on fight for oil market share.

Oil Up as China Plans to Buy Crude for Reserves
Thursday, April 02, 2020Oil surged more than 12 percent as China planned to start buying up cheap crude for its strategic reserves.

Trump Thinks Saudis and Russia Will Work it Out Soon
Thursday, April 02, 2020U.S. President Donald Trump outlined in a press briefing Wednesday that he thinks Russia and Saudi Arabia will work out their oil dispute over the next few days.

Big Oil Has $12B Bond Splurge
Thursday, April 02, 2020Royal Dutch Shell Plc, Total SA and Equinor ASA are selling $12 billion of bonds as the combined effect of the slump in oil prices and the collapse in demand threaten to sap cash flows for months.

Traders Eyeing Rail Cars for Oil Storage
Thursday, April 02, 2020Oil companies are turning to rail cars to stash the crude they can't sell.

10MM bpd of Oil Output Could Vanish
Wednesday, April 01, 2020That's nearly 10 percent of 2019 total daily global oil production.

Trump Diplomacy Fails to Revive Oil Prices
Wednesday, April 01, 2020Oil was rooted near $20 a barrel as President Donald Trump's pledge to meet with feuding producers Saudi Arabia and Russia to support the market failed to bolster prices.

UK Union Welcomes Offshore Agreement
Wednesday, April 01, 2020UK union Unite announced Tuesday that it welcomed a new agreement covering offshore workers.

April to be One of Toughest Months in Oil History
Wednesday, April 01, 2020April will be one of the toughest months in history for oil, according to Rystad Energy.

Polarcus Cuts Jobs and Salaries
Wednesday, April 01, 2020Polarcus Limited has announced a $15 million cost reduction plan following the coronavirus outbreak and recent oil price crash.

US, Saudi and Russia to Meet on Market Crash
Wednesday, April 01, 2020President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices.

Oil Set for Worst Ever Quarter
Tuesday, March 31, 2020Oil clawed back some losses as signs of a recovery in the Chinese economy bolstered hopes for a rebound in demand though prices are still headed for the worst quarter on record.

Oil CEOs Back Plan to Cut Texas Output
Tuesday, March 31, 2020Two of the biggest drillers in America's largest oil-producing state have asked Texas regulators to consider a cut to crude output after a historic price crash.

Neptune Prepared for Prices to be Lower for Longer
Tuesday, March 31, 2020Neptune Energy is prepared for prices to be lower for longer, its executive chairman and founder Sam Laidlaw has revealed.

BP Issues AGM Warning
Tuesday, March 31, 2020BP has outlined that it may not be possible to conduct its annual general meeting as usual this year due to the Covid-19 pandemic.

Ineos Producing Sanitizer to Help Combat Virus
Tuesday, March 31, 2020Ineos revealed Tuesday that it has started producing one million hand sanitizers per month to help combat the coronavirus outbreak.

Saudis Make Good on Oil Wave Promise
Tuesday, March 31, 2020The first wave of crude oil is already on its way toward Europe and the US.

What to Watch in the Oil Market This Week
Monday, March 30, 2020Rigzone panelists share what they will be looking for this week – and beyond.

Oil Down as Broken Market Drowns in Crude
Monday, March 30, 2020Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world's largest economies.

US Energy Dominance Under Threat
Monday, March 30, 2020The United States' energy dominance is now under direct threat, according to six U.S. senators.

Giant Oil Field Boost Is Bad for Market
Monday, March 30, 2020A torrent of oil from the giant Johan Sverdrup field may not be what the market needs right now.

Covid-19 Delays Cambo Project
Monday, March 30, 2020Siccar Point and its joint venture partner, Shell UK, have announced the deferral of the planned sanction date for the Cambo project to 2021.

Centennial CEO Accelerates Retirement
Monday, March 30, 2020Mark G. Papa has accelerated his retirement as Centennial's CEO and chairman.

Sinking Fuel Demand Shuts North American Refinery
Monday, March 30, 2020It's the first North American fuel maker to be idled as the coronavirus outbreak crushes demand worldwide.

Some American Oil Selling at Under $10 a Barrel
Monday, March 30, 2020The whole market is groaning under the weight of this oil surplus.

Oil Set to Eke Out Weekly Gain on Risk Rally
Friday, March 27, 2020Oil was buoyed by a wider risk rally driven by monetary and fiscal responses to the coronavirus to head for its first weekly gain in five.

Murphy Oil CEO Has Presumptive Covid-19 Diagnosis
Friday, March 27, 2020Murphy Oil Corporation announced Thursday that its president and chief executive officer has, pending test results, a presumptive diagnosis of Covid-19.

Canadian Crude Costs More to Ship than Buy
Friday, March 27, 2020Canadian heavy crude has become so cheap that the cost of shipping it to refineries exceeds the value of the oil itself.

Thousands of Texans Already Being Laid Off
Friday, March 27, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them...

Oil Braces for Biggest Idling of Wells Since 1986
Friday, March 27, 2020Oil prices at the well-head are collapsing under the weight of an unprecedented glut.

Coronavirus Delays Maintenance Across Oil, Gas Industries
Friday, March 27, 2020The coronavirus pandemic is delaying vital maintenance across the oil and natural gas industries in Europe and North America.

Action-Packed Week Wraps Up for Oil Market
Friday, March 27, 2020Rigzone panelists weigh in on oil market hits and misses for the week ending March 27, 2020.

Energy Survey Confirms Plunging Industry Activity
Thursday, March 26, 2020Many firms can't cover operating costs at current prices and almost none can profitably drill new wells.

Oil Rally Falters on Demand Dread
Thursday, March 26, 2020Oil's recovery rally went into reverse as mounting evidence of the demand devastation being wrought by the coronavirus outweighed progress on a U.S. economic rescue package.

Over 1 Million OFS Job Cuts Likely in 2020
Thursday, March 26, 2020More than one million jobs in the oilfield service industry are likely to be cut in 2020, according to Rystad Energy.

US and Saudi Arabia Talk Oil Stabilization
Thursday, March 26, 2020U.S. Secretary of State Mike Pompeo revealed Wednesday that he recently spoke with Saudi Crown Prince Mohammed bin Salman Al Saud.

Equinor Launches $3B Action Plan
Thursday, March 26, 2020Equinor revealed Wednesday that it has launched a $3 billion action plan to strengthen its financial resilience in 2020.

Seadrill Re-Hires Houlihan
Thursday, March 26, 2020Billionaire John Fredriksen's Seadrill Ltd. re-hired long time adviser Houlihan Lokey Inc. to engage in fresh talks with lenders, people familiar with the situation said.

Russia Says Oil Isn't on Agenda for G-20 Call
Thursday, March 26, 2020Russia said the agenda for the G-20 summit doesn't include a discussion of the oil market, despite the latest collapse in crude prices.

Oil's 60 Percent Crash Is the Tip of an Iceberg
Wednesday, March 25, 2020As oil crashes due to the impact of the coronavirus, it's easy to overlook an even more dismal reality for producers - the real prices they're getting for their barrels are worse still.

OGA Reprioritizes in Wake of Virus and Price Drop
Wednesday, March 25, 2020The UK Oil and Gas Authority has reprioritized in the wake of the coronavirus outbreak and the latest oil price crash.