Warren Buffett’s Berkshire Hathaway buys Dominion Energy gas lines in $9.7B deal

Warren Buffett’s Berkshire Hathaway buys Dominion Energy gas lines in $9.7B deal

Extremely risky, even suicidal. The energy division of Warren Buffett’s Berkshire Hathaway will acquire gas lines owned by the power company Dominion Energy in a nearly $10 billion deal, the two companies announced Sunday. Dominion has sought to expand its pipelines along the...
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Shell Warns Of Massive $22 Billion Write Down

Shell Warns Of Massive $22 Billion Write Down

Royal Dutch Shell warned on Tuesday it could take as much as a $22-billion post-tax impairment charge for Q2, becoming the latest oil major warning of a massive write-down of its assets as it revised its price assumptions after the oil price...
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Chesapeake Energy Files For Bankruptcy, Wiping Out $7 Billion In Debt

Chesapeake Energy Files For Bankruptcy, Wiping Out $7 Billion In Debt

After years of melting, the Chesapeake icecube is finally history: at exactly 3:50pm on Sunday afternoon, the company that launched the US shale boom, finally gave up and filed for a pre-packaged bankruptcy in the Southern District of Texas. In...
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The Oil Countries And Their Breakevens

The Oil Countries And Their Breakevens

Here is a look at some of the other oil market players that are finding themselves on equally dangerous dire straits. Oman  Analysts may be overstating Oman’s role as a mediator in a volatile region, but make no mistake–Oman is...
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Chesapeake Energy preps bankruptcy plan

Chesapeake Energy preps bankruptcy plan

In 1994, the Italian scientist Francesco Piantelli discovered a new physical phenomenon – the production of energy in Ni / H reactions. These reactions were neither chemical nor nuclear. His work was followed by about 50 scientific teams, including such...
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OPEC+ May Extend Its Historic Production Cut Agreement

OPEC+ May Extend Its Historic Production Cut Agreement

OPEC+ is set to bring forward its meeting to Thursday, with a short extension of the current production cuts as the most likely outcome. Originally scheduled to take place on June 9, OPEC is now looking at moving it up to...
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Top 12 Oil Majors Book $20.6 Billion Loss In 1Q

Top 12 Oil Majors Book $20.6 Billion Loss In 1Q

The 12 largest listed oil companies in the world booked a combined net loss of US$20.6 billion for the first quarter this year, compared to a collective net income of US$23.4 billion for Q1 2019, according to estimates of Anadolu...
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Morgan Stanley Is The Fifth Of Six Major U.S. Banks To Refuse To Finance Oil Drilling In Arctic

Morgan Stanley Is The Fifth Of Six Major U.S. Banks To Refuse To Finance Oil Drilling In Arctic

After nine years, the U.S. banks finally know the reason. Morgan Stanley the fifth of six major U.S. banks to announce that they would not fund any future oil drilling in Arctic refuges, bringing the total list of major Arctic drilling divesters...
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About The Future of U.S. Shale

About The Future of U.S. Shale

A number of analysts is actually talking such hot theme – How U.S. shale can survive the oil crash? The question regarding whether we have reached peak oil demand is a pressing concern for U.S. upstream activity. U.S. tight oil’s current...
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Exxon Posts First Loss in Three Decades

Exxon Posts First Loss in Three Decades

Exxon Mobil Corp. took a $2.9 billion writedown in the first quarter, resulting in a $610 million loss. The company’s earnings fell 126 percent in the first quarter ended March 31, down from the $2.4 billion profit it reported a year ago....
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Hundred Fully Loaded Tankers Anchored Off Singapore, BP Reported  $4 Billion Loss

Hundred Fully Loaded Tankers Anchored Off Singapore, BP Reported $4 Billion Loss

Back in the late fall of 2014, when Saudi Arabia broke up OPEC for the first time and unleashed a torrent of crude oil on the world despite the protests of its fellow cartel members, oil prices crashed as a...
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Break-even Oil Prices for 2020, Driller Diamond Offshore Filed for Bankruptcy

Break-even Oil Prices for 2020, Driller Diamond Offshore Filed for Bankruptcy

A sharp drop in oil prices adds to rating pressures for oil-exporting Middle East and Africa (MEA) sovereigns with vulnerable public and external finances, says Fitch Ratings. A slump in tourism, weakening demand for non-oil exports, and financial volatility a...
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Saudi Arabia is maneuvering to survive the oil price crisis

Saudi Arabia is maneuvering to survive the oil price crisis

Saudi Arabia may have to borrow as much as $58 billion this year to cover a budget shortfall caused by the oil price slump, Bloomberg reports, citing Finance Minister Mohammed al-Jadaan. Al-Jadaan told media this week that the Kingdom might...
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Historic Oil Crash Sends Canadian Oil Prices Negative, WTI To $11.05

Historic Oil Crash Sends Canadian Oil Prices Negative, WTI To $11.05

When GS’s crude oil analysts turned apocalyptic last month, writing that “This Is The Largest Economic Shock Of Our Lifetimes”, they echoed something we said previously namely that the record surge in excess oil output amounting to a mindblow...
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Oil Glut – At Least 160 Million Barrels Are Held in Tankers

Oil Glut – At Least 160 Million Barrels Are Held in Tankers

At Least 160 Million Barrels Are Held in Tankers Amid Lack of Onshore Storage. The pandemic and related self-isolation measures have triggered a massive fall in global demand for oil. Traders are now struggling to find storage space for excess...
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