Sunday, December 22, 2024
Canada's Imperial Oil posts loss on coronavirus-led oil slump- oil and gas 360

Canada’s Imperial Oil posts loss on coronavirus-led oil slump

Reuters Canadian integrated energy company Imperial Oil Ltd (IMO.TO) posted a second-straight quarterly loss on Friday, hit by lower crude prices and refining margins as the COVID-19 pandemic dented demand for fuel and related products. The coronavirus outbreak led to the grounding of flights and brought economies to a standstill, hurting demand for fuel and forcing producers to implement widespread

Exxon posts second straight quarterly loss on demand, price plunge- oil and gas 360

Exxon posts second straight quarterly loss on demand, price plunge

Reuters HOUSTON – Exxon Mobil Corp (XOM.N) on Friday reported a $1.1 billion second-quarter loss on sharply lower energy demand and prices from the COVID-19 pandemic, and confirmed plans to make deeper spending cuts. It was Exxon’s first back-to-back quarterly loss in at least 36 years, but was small in comparison to rivals who took giant charges last quarter. The

U.S. rig count had an increase of 1 this week, at 255- oil and gas 360

U.S. rig count had no change this week, at 251

Oil and Gas 360 This week’s Baker Hughes rig count shows that U.S. had no change over last week, resulting in a total count of 251 rigs. Canada had an increase of 3 over last week, resulting in a total Canadian count of 45 rigs. Breakdown by region Of the regions tracked by Baker Hughes, two regions, the Cana Woodford