Saudis Take Big Stakes in European Oil Companies
Saudi Arabia's sovereign-wealth fund has amassed stakes worth roughly $1 billion in four major European oil companies, buying assets it perceives as undervalued in a market depressed by the coronavirus and low oil prices.
Divergence in Oil Prices Shows Collapse in Demand
The price of Dated Brent, a key gauge of the market for oil cargoes in the North Sea, has been at least $5 a barrel lower than the price of Brent-crude futures since March 24.
Murray Energy Chairman's Salary Under Fire From Rival
Murray Energy Corp. is being criticized by a rival coal producer for paying founder and chairman Robert Murray more than $1 million a month while his bankrupt company seeks court permission to suspend payments for retiree medical costs.
Denbury Resources Hires Restructuring Advisers to Cope With Oil Crash
Denbury Resources has hired restructuring advisers to assist in addressing a $2.3 billion debt load as oil prices buckle under a global supply glut, according to people familiar with the matter.
Trump Eyes Tariffs as Tool to Tame Oil Glut
The administration is turning toward the most well-worn pages of its global playbook-tariffs and threats-as it tries to stop an oil-price war from crippling dozens of U.S. companies
Analysts Expect 21 Billion-Cubic-Foot Injection in Natural Gas Storage
U.S. government natural gas data due Thursday are expected to show inventories rose last week by 21 billion cubic feet -- a larger amount than normal.
U.S. Forecasts Oil Production Drop, Could Factor Into Price War
U.S. production of crude oil will fall 13% by year's end, according to a government forecast-numbers the White House hopes to use to convince Saudi Arabia and Russia to end their price war.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
Chaparral on the Hook to Repay Some Credit-Line Withdrawals
The company drew down on its revolving credit line last week, like many companies in the oil patch trying to shore up their cash reserves to weather a collapse in oil prices and business disruption caused by the coronavirus.
Exxon Cuts Capital Spending by 30% in Response to Coronavirus
The largest portion of the $10 billion in cuts will be in the Permian Basin, the largest U.S. oil field. Exxon said it would evaluate how the cuts would affect production.