News
Texas congressmen ask Interior to cut Gulf oil, gas royalties
Texas Congressmen are asking the Interior Secretary to reduce royalty collections on oil and natural gas produced in the Gulf of Mexico. Source: FuelFix
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Putin won’t bow to what’s seen as Saudi oil-price blackmail
Russian President Vladimir Putin will refuse to submit to what the Kremlin sees as oil blackmail from Saudi Arabia, signaling the price war that’s roiling global energy markets will continue. Source: FuelFix
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Oil extends gains as Texas supports output proposal
Oil rallied for a second session as President Donald Trump waded into the price war between Saudi Arabia and Russia, while a Texas regulator proposed his state could coordinate output cuts with the feuding producers....
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Baker Hughes issues work from home order
Houston oilfield service company Baker Hughes has become the latest major employer to order its employees to work from home in response to the global coronavirus outbreak. Source: FuelFix
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Occidental’s Bonds Plunge After Moody’s Cuts Rating to Junk
Occidental Petroleum Corp. bonds plunged after being downgraded to junk by Moody’s Investors Service as the Permian Basin shale producer struggles to deal with a high debt load in the face of oil’s crash. Source:...
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