pandemic

Chevron Warns Pandemic Threatening Through September, but Common Ground in Election

Chevron Warns Pandemic Threatening Through September, but Common Ground in Election

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…

July 31, 2020
Natural Gas, Oil Companies Continue Carrying Covid-19 Philanthropic Endeavors Onward

Natural Gas, Oil Companies Continue Carrying Covid-19 Philanthropic Endeavors Onward

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…

July 8, 2020
BP Cuts Natural Gas, Oil Price Outlook, Sees $13-17.5B in Writedowns with ‘Enduring Economic Impact’ from Covid-19

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.

June 15, 2020
Texas E&P Industry Records Stinging Losses in April as Covid-19 Strips Jobs, Permitting and Production

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.

June 10, 2020
BP CEO Says Covid-19 Impact on Energy Demand Solidifying Transition from Oil

BP CEO Says Covid-19 Impact on Energy Demand Solidifying Transition from Oil

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.

May 28, 2020
BGE Eyes $5B Energy Infrastructure, Customer Relief Plan to Assist Maryland in Pandemic Economic Recovery

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.

May 21, 2020
Dallas Fed Sees Q2 Oil, Natural Gas Capex Falling 35% on Weak WTI Price, Storage Constraints

Dallas Fed Sees Q2 Oil, Natural Gas Capex Falling 35% on Weak WTI Price, Storage Constraints

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.

May 15, 2020
Covid-19 Presents New Normal for Energy Sector, Edison CEO Says

Covid-19 Presents New Normal for Energy Sector, Edison CEO Says

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.

May 4, 2020
Cheniere Chief Says Price Negotiations, Force Majeures Off the Table During Pandemic

Cheniere Chief Says Price Negotiations, Force Majeures Off the Table During Pandemic

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.

April 30, 2020
Eni Reports Sharp Declines in First Quarter Natural Gas, LNG Sales due to Coronavirus

Eni Reports Sharp Declines in First Quarter Natural Gas, LNG Sales due to Coronavirus

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.

April 27, 2020
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