Oil Rallies As Russia Mulls Delay to Production Increase
Oil continued the rally that began in New York, sparked by reports that Russia's energy minister met with Russian oil companies to discuss the prospect of delaying current plans to ease production cuts.
Aramco Sticks by $18.75 Billion Dividend, Despite Sharp Fall in Profit
Saudi Aramco, the world's largest oil producer, said it remains committed to paying its quarterly dividend, amounting to $18.75 billion every three months, despite a sharp drop in profit driven by lower crude prices.
Extraction Oil & Gas Cleared to Walk Away From Pipeline Contracts
The Colorado-based fracker won bankruptcy-court approval to ditch its deals with pipeline companies that carry its oil and gas to market.
KPS-Backed Lufkin Acquires a Schlumberger Equipment Unit
The deal comes months after KPS carved Lufkin out of Schlumberger rival Baker Hughes.
Chesapeake Junior Creditors Preview Fight Over Restructuring
Oil-and-gas producer Chesapeake Energy is moving ahead with a proposed restructuring intended to cut $7 billion of debt, but junior creditors warned in court that they are preparing for an extended legal fight over their allegations that the company manipulated its capital structure to favor top lenders.
U.S. Oil-Rig Count Rises by 10 in Latest Week, Baker Hughes Says
The number of rigs drilling for oil in the U.S. rose by 10 in the latest week to 221, according to oil-field services firm Baker Hughes.
Exxon Posts Third Consecutive Quarterly Loss for First Time
The Texas company also said it may write down the value of natural-gas assets worth as much as $30 billion, as the pandemic continues to pressure the world's biggest oil companies.
LyondellBasell 3Q Profit Falls
LyondellBasell Industries said profit fell sharply in the latest quarter as demand fell for plastics and jet fuel as a result of the pandemic, leading to a write-down of its Houston refinery.
Total Returns to Profit, Maintains Dividend
Total returned to profit in the third quarter of the year as results benefited from a more favorable environment with oil prices above $40 a barrel
U.S. Blacklists Iranian, Chinese Companies Accused of Helping Iran
The Trump administration rolled out another pre-election battery of sanctions and other punitive actions against Iran, blacklisting Iranian and Chinese energy companies and announcing forfeiture actions against two shipments of Iranian missiles recently seized by the U.S. Navy.
(END) Dow Jones Newswires