oil and gas
BP Halves Dividend, Posts $16.8B Loss in Q2
The energy giant was forced to write down the value of exploration assets by $6.5 billion due in part to the decline in oil and gas prices.
Templar Energy Goes Bankrupt to Complete Sale
With its Chapter 11 filing, Templar is “joining a growing list of distressed operators amid the sharpest oil market downturn in recent memory.”
Exxon Cuts Spending by 30% Amid Demand Crash
Exxon's cut in 2020 capital spending is the largest any oil major has made in response to the coronavirus-driven slowdown.
Alta Mesa Resources Files Chapter 11 Bankruptcy
The shale oil startup cited "a historically challenging commodity price environment and a capital market that is highly constrained for energy companies."
Halliburton CFO Leaves After 17 Months
Lance Loeffler, vice president of investor relations, was named the oilfield services company's new finance chief.
‘Frack Master’ Settles Charges Over $80M Fraud
Christopher Faulkner agrees to disgorge the $23.8 million he allegedly misappropriated from investors to pay for a lifestyle of “decadence and debauchery.”
Oil Firm Founder Settles Charges of ICO Fraud
The SEC says David Laurance used misleading marketing materials to try to raise $5 million by selling "Tomahawkcoins."
Caterpillar Posts Record 2nd Quarter Profit
“A strong global economy ... is helping manufacturers like Caterpillar book more orders and deliver higher profits despite growing cost pressures."
Exxon Earnings Hit by High Maintenance Costs
The energy giant posted another earnings miss as production fell 7% and it undertook an "enormous amount of planned maintenance."
Feds Propose Easing of Oil-Drilling Safety Rule
The Trump administration says its proposal will reduce industry compliance burdens but environmentalists call it a "recipe for disaster."
OPEC Sees Minimal EV Impact on Oil Demand
Even if one in four passenger vehicles is electric by 2040, global oil demand would not drop “meaningfully” over the next 23 years.