Oil Ticks Lower After Early-Week Gain
Crude oil was lower in Europe, with Investors watching the FT's commodities summit in London, where heads of trading houses will be speaking, said DNB Markets.
EPA Raises Legal Questions About California Ban on Gas-Powered Cars
The Environmental Protection Agency raised concerns about California Gov. Gavin Newsom's plan to ban sales of new gasoline and diesel-powered passenger cars in the state by 2035, arguing that the mandate is impractical and possibly illegal.
Devon Energy, WPX to Merge in All-Stock Deal
The combination of shale drillers would have a combined market value of about $6 billion and fortify them against the sharp drop in oil demand caused by the Covid-19 pandemic.
U.S. Oil-Rig Count Rises by 4 in Latest Week, Baker Hughes Says
The number of rigs drilling for oil in the U.S. rose by four in the past week to 183, according to oil-field services company Baker Hughes. The week's count was lower by 530 from the year-ago period.
With Electric-Car Target, California Is Going to Need a Bigger Grid
Converting all passenger cars and trucks to run on electricity in California could raise power demand by as much as 25%. That poses a major challenge for a state already facing periodic rolling blackouts as it rapidly transitions to renewable energy.
Noble Settles Multibillion-Dollar Suit Over Paragon Spinoff
The London-based operator of offshore oil-and-gas drilling rigs has settled multibillion-dollar litigation over its 2014 spinoff of Paragon Offshore, a critical step in Noble's path to exiting bankruptcy.
Peak Oil Is Already Shifting Markets
The prospect of falling demand for crude oil could unleash a long-term scramble between rival producer nations.
Fracker Extraction Oil Greased the Political Skids in Colorado
In the two years before it went bankrupt in June, Extraction Oil & Gas funneled more than $10 million into political donations, most of it aimed at quashing a movement that threatened its business of forcing oil and gas out of the Colorado bedrock.
Fracking-Services Company FTS International Files for Bankruptcy
Texas-based FTS International filed for bankruptcy protection after reaching an agreement with creditors on a debt-for-equity swap following a downturn in the energy sector and lower demand for its services.
Oil Market Flies Blind as Virus Clouds Demand Outlook
Predicting oil demand has rarely been more challenging. Energy analysts are mapping out the course of the coronavirus and efforts to stop the pandemic, as well as grappling with the effects on fuel demand of an economic downturn.