Oil Ticks Down Ahead of API Data

Oil prices were lower in Europe, paring losses slightly, but with Covid-19 cases rising in many major economies and OPEC relaxing its production cuts during August, investors are uncertain of the way forward. 


 
BP Reports $17.7 Billion Loss, Cuts Dividend

BP cut its dividend for the first time in a decade and outlined plans to pivot away from oil and gas and invest more in low carbon energy-marking one of the most dramatic energy-transition plans among its oil major peers. 


 
Refiners Retrench as Demand for Gasoline, Jet Fuel Shrivels

U.S. fuel makers ran below capacity in the second quarter in a preview of the challenges they are likely to face as the world transitions away from fossil fuels. 


 
Trump Fires Tennessee Valley Authority Board Members, Cites Shift to Foreign Workers

President Trump removed the chairman and another board member at the Tennessee Valley Authority and called for firing the federally owned utility's CEO, as he signed an order meant to protect U.S. federal workers from displacement by foreigners. 


 
Offshore Driller Fieldwood Energy Preps for Imminent Bankruptcy Filing

Fieldwood Energy, an oil driller that operates in the Gulf of Mexico, is preparing to file for bankruptcy within days as it grapples with the prolonged slump in commodity prices exacerbated by the coronavirus pandemic. 


 
Marathon to Sell Gas-Station Chain to 7-Eleven Owners for $21 Billion

Fuel maker Marathon Petroleum agreed to sell its gas stations to the owners of the 7-Eleven convenience-store chain for $21 billion in the largest U.S. energy-related deal of the year. 


 
Gas Finds Trigger a Standoff in the Mediterranean Between an Isolated Turkey and Rivals

The contest over newfound gas riches in the Eastern Mediterranean has triggered a slew of rival maritime claims, pushing the region's main powers-all of them America's partners or allies-toward open confrontation. 


 
Drillers Go Remote as Pandemic Reshapes Oil Business

After cutting thousands of jobs during the coronavirus pandemic, the oil industry is accelerating its embrace of remote drilling and fracking, changes that will reshape its workforce permanently. 


 
Exxon Dividends: Jam Today, Jammed Tomorrow?

The oil giant can manage its dividends, but it comes at a long-term cost that may not seem immediately apparent. 


 
Denbury Resources Files for Bankruptcy, Handing Control to Creditors

The oil-and-gas company plans to hand ownership over to creditors as part of a bankruptcy strategy that would eliminate $2.1 billion in bond debt.