New Committee Aims to Retain Permian Work Force  | Rigzone
The Odessa Development Corporation (ODC) has announced the formation of a new strategic advisory committee called The Permian Fuels America (TPFA). TPFA is focused on promoting resources to retain the current Permian basin work force and on driving collaborative industry initiatives to “permanently change the vulnerability of American oil and gas production to the manipulations
Oil Holds Losses on Demand Concerns  | Rigzone
(Bloomberg) — Oil held losses near $41 a barrel in New York as signs of weakness in the American labor market cast doubt on the strength of its demand recovery, while U.S.-China relations deteriorated further. The first increase in jobless claims since March comes as lawmakers negotiate another virus relief package, with infections and deaths surging
Oil Prices Fall Amid Slowdown Signals  | Rigzone
(Bloomberg) — Oil’s afternoon attempt to hold a rally failed after a breakdown in U.S. equities added to growing negative sentiment spurred by signals of a global economic slowdown. The coronavirus pandemic is causing a deepening demand fallout from the U.S. to Asia. In America, Congress and the White House face a looming deadline to pass another
Saudis Gain Nothing in 1st Month After Price War End  | Rigzone
(Bloomberg) — Saudi Arabia gained no financial reward in the first full month after ending its oil-price war with Russia. The kingdom earned 23.9 billion riyals ($6.4 billion) from oil exports in May, the Riyadh-based General Authority for Statistics said Thursday. That was even less than the previous month, when the price war was at its height,
ADIPEC Goes Virtual  | Rigzone

ADIPEC Goes Virtual  | Rigzone

The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) is going virtual this year, ADIPEC organizer dmg events has revealed. ADIPEC will now take place online between November 9 and 12, following a directive from Abu Dhabi’s Department of Culture and Tourism that events should not take place in light of Covid-19 restrictions. Dmg events
US Orders Closure of Houston Chinese Consulate  | Rigzone
On July 21, the United States “abruptly” demanded that the Chinese Consulate-General in Houston cease all operations and events, the Chinese embassy in the U.S. has confirmed. “China strongly condemns and firmly opposes such an outrageous and unjustified move which sabotages China-U.S. relations,” the Chinese embassy said in a government statement on Thursday. “We urge
Oil Stuck as Headwinds Mount  | Rigzone
(Bloomberg) — Oil was stuck near $42 a barrel in New York with a weaker dollar lending support as investors took stock of a surprise gain in American crude stockpiles and renewed tensions between Beijing and Washington. A rally earlier in the week has stalled on bearish headwinds but the dollar is near the weakest
Oil Prices Nearly Flat for the Day  | Rigzone
(Bloomberg) — Crude nearly erased all losses with a declining dollar and strong U.S. equities lending support to a market weakened by sluggish demand. Futures in New York settled close to flat after dropping as much as 1.9% earlier on Wednesday. The dollar weakened to the lowest level since March and U.S. stocks largely firmed
UK Oil at Odds with Gov on Mass Covid Testing  | Rigzone
(Bloomberg) — The U.K. oil and gas industry says blanket testing of its workers is essential to avoid Covid-19 outbreaks offshore, but the authorities have so far refused to provide the means to do so. The standoff creates another threat for an industry that’s already reeling from a deep price slump. Outbreaks on cruise ships
IOGCC Urges Trump to Investigate Saudis and Russia  | Rigzone
The Interstate Oil and Gas Compact Commission (IOGCC) has passed a resolution urging the Trump administration to investigate “excessive dumping” of crude oil by Saudi Arabia and Russia and “take appropriate action”. The resolution was brought forward by Texas Railroad Commission (RRC) Chairman Wayne Christian, who said that the federal government must push back against