Archives for 2020
Fracking giants warn shale crash will be faster this time
(Bloomberg) — Two of the world’s biggest oilfield service companies are warning of a bigger shale crash than the one that hit the U.S. and Canada just five years ago. While the decline in North...
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Layoffs, pay cuts loom as Schlumberger plans to cut up to 30 percent from budget
Layoffs and pay cuts loom as Schlumberger, the largest oilfield service company in the world, plans to cut up to 30 percent from its budget amid crumbling oil prices and the economic effects of the...
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Chevron cuts billions from its budget with oil stuck in the $20s
California oil major Chevron is cutting billions of dollars from its 2020 budget as the oil industry continues to feel the pressure of a price war and the coronavrius pandemic. Source: FuelFix
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Oil finds firmer ground after fed unleashes support measures
Oil rallied with other risky assets after the U.S. Federal Reserve unveiled a sweeping set of measures to support the world’s largest economy. Source: FuelFix
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FTS International furloughs hydraulic fracturing crews, cuts executive pay
Fort Worth oilfield service company FTS International is putting hydraulic fracturing crews on furlough as crude oil prices continue to fall and exploration and production companies continue to cut their budgets. Source: FuelFix
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