So far, layoffs have yet to hit the Schlumberger operations in Oklahoma, at least what the company revealed, even though the company has cut its North American workforce by 1,500 workers. But things are expected to get worse as the company announced Friday its first quarter 2020 operations lost $7.4 billion and leadership doesn’t think …
Two weeks after laying off 350 workers at its former headquarters in Duncan, Oklahoma, the now-Houston based company reported a net loss of $1 billion or $1.16 per diluted share for the first quarter of 2020. A year ago, the company reported net income of $152 million or 17 cents a share. The company …
While the Cushing oil storage tank farm is filling up with the glut of crude caused by the cratered demand for gasoline, a similar situation has developed in Mexico where Pemex is storing it in tankers sitting in the Gulf of Mexico. Bloomberg checked and found out Pemex has too much gasoline …
Like the refinery industry, the coal industry has also been slapped by the coronavirus pandemic. Lights are off in schools and businesses across the world and for coal miners, that’s bad news because it means there is less demand for their product to power the coal-fired power plants. As a result, companies like Alliance …
