Tag Archives: oil

Oil Crashes as New Covid Variant Roils Markets

Oil crashed more than 10% in both London and New York as a new coronavirus strain sparked fears that renewed lockdowns will threaten the global recovery in demand. Both benchmarks tumbled on Friday with the emergence of the new variant representing the biggest threat to the recovery in oil consumption in several months, with a […]

USA Adds 7 Rigs

#oil and gas #oil #oilfield #roughneck #drilling #rig The U.S. added seven land rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on November 19. Total rig figures in the country now stand at 563, the latest count shows, comprised of 546 land rigs, 15 offshore rigs and two […]

Phillips 66 Converting Louisiana Refinery

#oilandgas#oilfield#refinery#oil#drilling#rougnck#cowboy Phillips 66 (NYSE: PSX) has announced that it plans to convert its Alliance Refinery in Belle Chasse, Louisiana, to a terminal facility. The conversion is expected to take place in 2022, Phillips 66 highlighted. The refinery employs approximately 500 employees and 400 contractors, according to the company. “We made this decision after exploring several […]

Biden Gulf of Mexico Lease Sale Results Are In

#oil and gas, #oilfield, #gulf of mexico, #drilling, #roughneck, #cowboy he Bureau of Ocean Energy Management (BOEM) has announced that Gulf of Mexico Lease Sale 257 generated $191,688,984 in high bids for 308 tracts covering 1.7 million acres in federal waters of the Gulf of Mexico (GOM). A total of 33 companies participated in the […]

Shell Ditches Dutch from Name

#oilfield, #oiland gas, #Shell, #drilling, #oil, #rig Royal Dutch Shell Plc announced a major overhaul of its legal and tax structure that will see the company walk away from the Netherlands amid deteriorating relations with what’s been its home country for a century. The changes come as Shell is battling activist investor Dan Loeb, who’s […]