Chevron Corp., savaged in the second quarter by the hurricane-force winds of Covid-19, warned Friday that the pandemic may choke profits through September. The San Ramon, CA-based major posted an $8.3 billion loss (minus $4.44/share), compared with net profits a year earlier of $4.3 billion ($2.27). U.S. upstream operations lost $2.1 billion, versus year-ago earnings…
Articles from pandemic
Though months have passed since the coronavirus pandemic first began to impact individuals and communities across the United States, many organizations have proven their determination by continuing to assist however they can. While many countries are emerging from lockdowns and showing signs of recovery, Royal Dutch Shell plc continues to assist in the global fight…
BP Cuts Natural Gas, Oil Price Outlook, Sees $13-17.5B in Writedowns with ‘Enduring Economic Impact’ from Covid-19
One week after announcing it would cut 10,000 jobs globally, BP plc on Monday signaled it expects to impair up to $17.5 billion on the value of its assets for the second quarter because of limited upside in natural gas or oil prices.
Texas E&P Industry Records Stinging Losses in April as Covid-19 Strips Jobs, Permitting and Production
Texas oil and gas activity suffered a bloodbath of sorts in April as the state began to register the full effects of the Covid-19 lockdowns, with upstream jobs tumbling to the largest monthly decline on record, the Texas Alliance of Energy Producers said Wednesday.
The coronavirus pandemic has underscored BP plc’s efforts to “reimagine energy” as it transitions to lower carbon fuels, Group CEO Bernard Looney said Wednesday.
BGE Eyes $5B Energy Infrastructure, Customer Relief Plan to Assist Maryland in Pandemic Economic Recovery
Exelon Corp.’s Baltimore Gas and Electric Co. (BGE) is planning a $5 billion infrastructure investment in the electric power grid and electric system, as well as a multi-yearcustomer reliefplan totaling $4.1 million.
Investment by U.S. oil and gas producers is likely to drop by at least 35% in the second quarter versus the first quarter of this year due to the crushing impact of Covid-19 on crude prices and a lack of available storage capacity, the Federal Reserve Bank of Dallas said Friday.
California’s coronavirus lockdown has shone a spotlight on the state’s energy sector, and the eventual recovery to a new-normal economy will require a key role for clean energy, according to Edison International (EI) CEO Pedro Pizarro.
Cheniere Energy Inc. said Thursday it earned $53 million in first quarter revenue from customers that canceled liquefied natural gas (LNG) cargoes and elected to pay fees as global prices cratered and demand eroded from the Covid-19 pandemic.
Italian supermajor Eni SpA reported a steep drop in natural gas sales during the first quarter as the Covid-19 outbreak began destroying demand in Asia and Europe.