2020 Was One of the Worst-Ever Years for Oil Write-Downs

Oil-and-gas companies in North America and Europe wrote down roughly $145 billion combined in the first three quarters of 2020, the most for that nine-month period since at least 2010. 


 
Oil prices edge higher, but log first weekly fall in 2 months in Christmas Eve trade

Crude-oil futures settle slightly higher Thursday amid light-trading volumes in the last trading session before Christmas, with investors watching whether a U.S. fiscal package will be signed into law by President Trump. 


 
Gas Is Cleaner Than Oil, But It Still Has a Transition Problem

As a relatively clean fossil fuel, natural gas will play a useful role for years to come. It is less certain that it will be a profitable one. 


 
U.S. Crude Oil and Fuel Inventories Decline

Government data showed U.S. crude-oil stockpiles declined by 562,000 barrels in the latest week, a much smaller decline than analysts expected, while gasoline inventories fell by 1.1 million, contrary to expectations for a rise. 


 
Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities 


 
EPA Maintains Standard for Ozone Pollution

The Trump administration retained a national limit of 70 parts per billion for the pollutant ozone, the same standard set by the Obama administration, after business groups fought tougher standards. 


 
Diamondback Buys Shale Driller QEP Resources

The company's acquisition of a West Texas rival adds to a run of low-premium takeovers in the U.S. shale patch. 


 
Shell Signals Another Poor Quarter for Oil Majors

Shell said it would write down the value of its assets by up to $4.5 billion and warned of another set of poor earnings for the fourth quarter, showing how the oil-and-gas industry continues to struggle amid the fallout of the pandemic. 


 
Fracking: From Breaking Shale to Breaking Even

Fracking is unique and revolutionary. Understanding the mechanics and economics of it can help investors understand the dizzyingly cyclical nature of energy markets. 


 
U.S. Oil-Rig Count Grows by Five in Latest Week, Baker Hughes Says

The number of rigs drilling for oil in the U.S. increased by five in the latest week to 263, according to oil-field services firm Baker Hughes.

(END) Dow Jones Newswires

12-28-20 0015ET