oil

ExxonMobil reported its biggest-ever quarterly loss on Friday as the coronavirus pandemic slammed demand and prices for oil. The Texas-based oil giant lost nearly $1.1 billion from April to June as COVID-19 caused a historic plunge in oil prices that hammered its production business. That came on the heels of a $610 million loss in …

BP expects to slash the value of its assets by up to $17.5 billion after predicting the coronavirus pandemic will depress energy prices for years to come. The British energy giant on Monday said it will take billions of dollars in impairment charges and write-offs thanks to the lasting effects of the COVID-19 crisis, which …

He inadvertently spilled the beans on the iconic scene. “The Sopranos” creator David Chase accidentally spoiled the infamously cryptic series finale during a leaked interview for “The Sopranos Sessions,” his book celebrating the Emmy-winning HBO mob drama, reports the Independent. At the end of 2007’s final episode, titled “Made in America,” Tony Soprano (played by …

Google says it will no longer build custom artificial intelligence tools for speeding up oil and gas extraction, separating itself from cloud computing rivals Microsoft and Amazon. A statement from the company Tuesday followed a Greenpeace report that documents how the three tech giants are using AI and computing power to help oil companies find …

Chesapeake Energy said on Monday it is no longer able to access financing and is considering a bankruptcy court restructuring of its $9 billion debt if oil prices don’t recover from their sharp fall caused by the COVID-19 pandemic. Reuters reported last month that the pioneering shale gas producer was in talks to line up …

The number of oil and gas rigs operating in the United States is expected to hit an all-time low this week – reflecting data going back 80 years – as the energy industry slashes output and spending to deal with the coronavirus-led crash in fuel demand. Last week, the U.S. rig count was just four …

Hulu’s new ‘toon “Solar Opposites” will benefit from the fandom of “Rick and Morty,” Adult Swim’s extremely popular animated series that’s stamped itself into pop culture and even has its own line of merchandising — the mark of a keeper. “Solar Opposites,” premiering Friday, springs from the minds of “Rick and Morty” co-creator Justin Roiland …

Treasury Secretary Steve Mnuchin on Thursday announced he was considering creating a federal lending program for oil companies currently facing numerous challenges during the coronavirus pandemic. “One of the components we’re looking at is providing a lending facility for the industry,” Mnuchin told Bloomberg. “We’re looking at a lot of different options, and we have not …

The oil market may look like a dollar-store clearance rack — but that doesn’t mean investors should buy up barrels like they’re out-of-season Easter candy. Rock-bottom prices have piqued the interest of would-be oil barons who furiously googled tips this week on how to bet on crude. They could usually do that through exchange-traded funds …

US stocks and oil prices rebounded Wednesday as the US government and several states unleashed fresh initiatives to combat the coronavirus fallout, including nearly $500 billion in federal stimulus. The Dow Jones industrial average climbed as much as 475.73 points, or 2 percent, to 23,494.61 in early trading after shedding more than 1,200 points in …