Aramco Close to Inking $10 Billion Deal With Group of About 10 Banks

Saudi Aramco is about to finalise a $10 billion loan with a group of roughly 10 banks, three sources familiar with the matter said, as the oil giant seeks cash amid record low oil prices.

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Halliburton Lays Off 1,000 Employees

Halliburton reduced the number of staff at its headquarters by 22 percent or about 1,000 people as persistently low oil prices continued to bite, killing business for oilfield services providers.

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Mideast Petro-States Look Past Oil’s Crash to Chase Solar Power

Some of the Middle East’s biggest oil producers are pushing into solar energy even amid the rout in crude prices.

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OTC announces 2020 Spotlight on New Technology Awards recipients

HOUSTON -The Offshore Technology Conference the 2020 recipients of the Spotlight on New Technology® Award. Eighteen technologies from 14 companies from around the world will be awarded this year, including six companies that will be recognized for the Spotlight on Small Business Award.

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Saudi Arabia’s Sabic Suspends All But Essential Spending

Saudi Basic Industries Corp. is suspending new capital expenditure after an oil-price slump and coronavirus-related lockdowns pushed the company into a 950 million-riyals loss ($253 million) in the first quarter.

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Exxon Posts Historic Loss on Rout With Chevron in Retreat

Exxon Mobil Corp. posted its first loss in at least three decades and Chevron Corp. slashed $2 billion off its spending plan

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The Wave Of Shale Well Closures Has Finally Begun

U.S. shale oil producers have so far held up admirably, hanging on for dear life amidst the biggest oil demand collapse in history

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ConocoPhillips to sharply cut oil production as low prices hit earnings

ConocoPhillips said on Thursday it would sharply reduce oil output in coming weeks, aiming to shut 35% of its volume by June after weak energy prices led to a loss of $1.7 billion in the first quarter.

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