OIL State Reduces Budget to Reflect Reality of Oil PricesRachel Adams-Heard and Catarina Saraiva, Bloomberg, June 22, 2020 As Covid-19 shock waves reverberate across U.S. oil towns, perhaps nowhere is their speed and severity more apparent than in America’s newest shale powerhouse.  Just months ago, New Mexico, the third-biggest producer of U.S. oil, approved the state’s largest budget ever, paid … read more

News of the Day:  Norway will slow down onshore wind power developments OIL DNR to complete its review of BP sale this weekTegan Hanlon, Alaska’s Energy Desk, June 21, 2020 The state Department of Natural Resources says it expects to complete its review of the BP-Hilcorp deal by the end of the week, allowing the oil companies to close part of … read more

OIL Oilfield Services May Not Recover Until 2020Oil & Gas 360, June 19, 2020 Global demand for oilfield services (OFS) is set for a massive 25% yearly drop in 2020. The well servicing sector will be the first to recover, while long-lead segments will pick up much later Global demand for oilfield services (OFS), measured in the total value of … read more