Baker Hughes Company (BKR) Reports In-Line Q1 EPS, Revenues Miss
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April 21, 2020 10:07 PM EDT
By Matt Spetalnick and Daphne Psaledakis
WASHINGTON (Reuters) - The Trump administration on Tuesday gave Chevron Corp (NYSE: CVX), the last major U.S. oil company still operating in Venezuela, until Dec. 1 to "wind down" its business in the OPEC member-nation and will allow it to conduct only severely limited operations there until then.
Seeking to ratchet up pressure on socialist President Nicolas Maduro, the U.S. Treasury Department imposed tight new restrictions on Chevron's joint ventures with Venezuelan state-run oil company PDVSA, which could pave the way for the California-based company's... More
April 20, 2020 7:04 AM EDT
By Liz Hampton and Nishara Karuvalli Pathikkal
(Reuters) - U.S. oilfield services giant Halliburton (NYSE: HAL) on Monday reported a $1 billion first-quarter loss on charges and outlined the largest budget cut yet among top energy companies as U.S. crude futures plunged to two-decade lows.
U.S. oil prices have collapsed 80% since January and on Monday traded under $11 a barrel , a 34-year low, and below many shale drillers' cost of production. The coronavirus pandemic has crushed oil demand and prompted a sharp decline in the need for oilfield services.
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