"Senior Saudi government leaders have repeatedly told American officials, including us, that the Kingdom of Saudi Arabia is a force for stability in global markets. newsletter

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. More than 100,000 American oil workers have lost their jobs since the pandemic-induced slump began, with service companies bearing the brunt. Iraq is calling for and almost begging for an emergency OPEC Plus meeting. How Will Offshore GOM Oil Employment Shake Out? 'audience' : 'News', That means we will see a rebound in a few months. Baker Hughes Co., the No. According to a report released from the American Petroleum Institute (API) that may already be showing up in supply. Email Address Copyright © 2020 ETEnergyworld.com. Tullow Gets Green Light for $575MM Total Deal, Total Awards Maersk Contract for Three Angola Wells, Israel and UAE Eye Pipeline Linking Red and Med Seas, Asia LNG Price Surge Spurs Interest in Vitol Trades, Deloitte Gives Bleak US Oil Job Prediction.

Gasoline demand is tanking as streets in major cities are almost empty. “North America production is likely to remain structurally lower in the foreseeable future and has slower growth going forward.”. Halliburton was the first oilfield contractor to report second-quarter results. By Jenn Watt Santa will still come to Haliburton this year, but just like everything else during the coronavirus pandemic, the way he does so will look different.On Tuesday, Sept. 29, the Haliburton BIA and… Studio Tour busy on its first weekend. Baker Hughes Co., the No. The plan also reopens and will allow corporations to delay tax payments of up to $10 million while individuals up to $1 million to keep money in the system for small and large businesses to operate. Don’t miss out on my wildly popular trade levels on all major markets as well as special subscriber-only updates.
For the first three months of the year, before the worst of the oil-market crisis, the world’s three biggest oilfield service companies each had already announced more than $1 billion in charges that reflected the deterioration of their businesses. 'author' : 'Bloomberg', Futures The union announced it had reached a deal with General Motors, Ford Motor and Fiat Chrysler for the companies to "review and implement" a rotating partial shutdown of facilities, deep cleaning of facilities and other measures to prevent the spread of the virus among workers. 'company' : '', That warning, along with more concerns about physical and emotional demand destruction, sent shockwaves through the marketplace. As much as 85% of frack crews have lost work this year, according to Primary Vision Inc. Halliburton “inked simply outstanding results vs. expectations,” analysts at Tudor Pickering Holt & Co. wrote in a note to investors. Joe Carroll, Carlos Caminada. The Hill reported that "Major automakers to 'review and implement' rotating partial shutdown, union says Three of America's largest automakers have agreed to institute a rotating partial shutdown of production facilities amid the coronavirus outbreak, the United Auto Workers (UAW) union said. The stock was up 6.2% to $13.89 at 11:24 a.m. in New York after earlier rising as much as 8.1% for the biggest advance in five weeks.

US refiners are moving to cut runs in response to demand losses and poetical backing up crude. Halliburton was the first oilfield contractor to report second-quarter results. 'longevity' : 'News',

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Simon Casey at scasey4@bloomberg.net 'tag' : 'Oilfield_Services,Shale_Unconventional', 'company_sentiment' : 'Neutral', Remember, we will get through this with a little faith, prayer, and good old fashion American Ingenuity and sprit.

Reports say that the Treasury secretary cautioned that if the US government did not step in, the US employment rate could soar to almost 20%. Halliburton Co. is looking away from its traditional North American heartland for sales growth. Sign Up The company reported second-quarter adjusted profit of 5 cents a share, compared with the 12.3-cent average loss forecast by analysts in a Bloomberg survey. In the energy sector, ground zero for the bulk of this demand destruction shuttered as the news kept getting worse. Call me at 888-264-5665 or email me at pflynn@pricegroup.com. We have updated our terms and conditions and privacy policy Get ETEnergyworld's top stories every morning in your email inbox. After more than 200 oilfield service providers went under in the past five years, 2020 is shaping up to be the worst, with the highest volume of debt owed during bankruptcy, according to a July tally by law firm Haynes & Boone LLP.
Trade IdeasResearchFinancial Market NewsCommoditiesStocksFuturesCrypto Halliburton followed that up with $2.1 billion in additional impairments for the second quarter, mainly due the lower value of its fracking gear and real estate.

'industry_sector' : 'Upstream', If you are living cheche of the Federal Government to help out, If you are living check to check, contact your lender and landlord for help. (If You Are A Short End Trader).

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PM Modi underscores 7 key pillars of India’s energy strategy2 hrs ago, Taxes on petrol, diesel may go up further to mobilise additional revenue for Covid relief7 hrs ago, Halliburton, which had roughly 4,500 employees at its corporate headquarters in Houston, said the cuts were in addition to reductions across its global operations, 100000+ Industry Leaders read it everyday, How did you hear about us?

Even the US auto production will take a significant hit.

The company laid off 178 workers at its Grand Junction facility in October 2019 as part of workforce reductions across the region.

Recent Saudi actions have called this role into question," the letter read. No talk of direct help for the Energy Sector other than the previously announced purchase for the Strategic Petroleum Reserve.

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