News
Saudi Arabia pledges to expand oil output capacity
Saudi Arabia ordered state-run oil producer Aramco to boost the kingdom’s output capacity by 1 million barrels a day, the latest escalation in a battle for control of the global petroleum market. Source: FuelFix
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More wind, solar and natural gas will ease summer power demand
The state’s grid manager is bracing for another record-setting summer of electricity demand but more generation capacity should help ease some pressure. Source: FuelFix
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Report: Oil war could drive some services companies out of business
Oilfield Source: FuelFix
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Marathon Oil cuts capital spending by 20 percent after crude prices collapse
Houston exploration and production company Marathon Oil on Tuesday said it is cutting its 2020 drilling budget by 20 percent, a day after oil prices collapsed to almost $30 per barrel. Source: FuelFix
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Oxy slashes dividend payment for first time in 30 years after oil crash
Occidental Petroleum has slashed its quarterly payout to investors for the first time in 30 years after oil prices crashed Monday. Source: FuelFix
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