Archives for March 2020
Pipeline operators ask oil companies to stop production as storage fills up
Pipeline operators with full storage tanks are asking some Texas oil companies to stop production as the ongoing price war between Russia and Saudi Arabia has exacerbated a global supply while the coronavirus pandemic has...
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Apache makes deeper cuts while its Permian Basin rig count goes to zero
Houston oil company Apache Corporation is making deeper budget cuts while its Permian Basin rig count has gone to zero. Source: FuelFix
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Rig count plunges in largest single-week drop since bottom of last oil bust
The number of operating U.S. oil and gas rigs plummeted by 44 this week. Source: FuelFix
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Canadian crude is so cheap it costs more to ship it than buy it
Canadian heavy crude has become so cheap that the cost of shipping it to refineries exceeds the value of the oil itself, a situation that may result in even more oil-sands producers shutting operations. Source:...
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Oil pain spreads beyond Permian to small towns across America
The oil market turmoil sparked by Saudi Arabia and Russia is threatening U.S. jobs even in Cut Bank, Montana, and Magnolia, Arkansas — relatively obscure communities in the world of energy. Source: FuelFix
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