United Steelworkers union negotiators bargaining for a new contract at an Exxon Mobil Texas refinery offered a six-year deal with no pay raise in the first year, people familiar with the talks said, shortly before 650 workers were locked out of their jobs.
Energy Transfer LP (ET) expects to gain roughly $2.4 billion from Winter Storm Uri, which knocked out power and halted the distribution of natural gas in Texas to homes and businesses, company executives on Thursday said. Most of the windfall expected to be realized in 2021 came from trading and selling natural gas in Energy Transfer's (ET) energy storage system.
NEW YORK, May 6, 2021 . The AC electric motor sales in the oil and gas market is expected to grow by USD 2.40 billion, progressing at a CAGR of over 4% during the forecast period. Download Our Free Sample Report to Know More The increase in oil and gas demand is one of the major factors propelling the market growth.
Oilfield services provider ProPetro Holding Corp (PUMP) on Wednesday said current pricing levels in the oilfield services sector were unsustainable, even as industry activity picks up. The company, which does hydraulic fracking for shale oil producers, said it expects prices to increase, but warned the timing remained uncertain.
NEW YORK, May 3, 2021 . The automated oil tank cleaning system market in EMEA is expected to grow by USD 33.01 bn, progressing at a CAGR of 5% during the forecast period. The increasing investments in oil storage tanks, increasing extraction of low-grade crude that accumulates more sludge, and regulations in European countries are a few of the major factors propelling the market growth.
Chevron Corp. (CVX) was fixated on roses. The giant U.S. oil company objected last June when Washington proposed allowing duty-free rose imports from the world's poorest countries, including Ecuador. A decade earlier, an Ecuadorean court had blamed Chevron for oil pollution and told it to pay $9.5 billion in damages, one of the largest-ever penalties of its kind.
Exxon Mobil Corp (XOM) began escorting United Steelworkers union members from its Beaumont, Texas, complex, a Reuters witness said, as a deadline passed without a new labor contract. The oil company had set a 10 a.m. May 1 deadline to lock out and replace union-represented workers with managers and temporary staff if there were no vote on a company proposal.
Petroleos Mexicanos said on Friday its net loss narrowed 93% to $1.8 billion in the first quarter after higher sales, lower imports and tax cuts eased pressure on Mexico's highly indebted state oil company. The loss of 37.3 billion pesos was down from 562.1 billion pesos in the year-ago quarter, said Pemex, as the company is known, in a filing with the Mexican stock exchange.
Chevron Corp's (CVX) first-quarter profit fell 29% from the same period a year ago as gains from oil and gas prices were undercut by weaker refining margins, production losses and the impact of an asset sale that benefited results last year. Oil companies are generally enjoying a recovery in energy prices, up at least a third this year, after the pandemic hammered demand at the start of 2020.
Chevron Corp's (CVX) first-quarter profit fell 29% compared with the same period a year ago as gains from oil and gas prices were undercut by weaker refining margins, production losses and the impact of an asset sale that benefited results last year. Oil companies are generally enjoying a recovery in energy prices, up at least a third this year, after the pandemic hammered demand at the start of 2020.
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