Though crude is cheaper than during the financial crisis seven years ago, global oil prices haven’t fallen far enough yet to force oil producers to shut in more than 0.1 percent of the world’s daily supply.
Schlumberger, the world’s largest oil field services company with headquarters in Houston, Paris and The Hague, has moved quickly to wrap up the acquisition of the large oil equipment and technology manufacturer since the deal was first announced at the end of August.
The blowout at the largest natural gas-storage facility in the West has uprooted thousands of residents and spewed more than 2 million tons of climate-changing methane.
Linn, which borrowed billions of dollars to expand during the height of the shale oil boom, saw its stock value sink below $1 a unit for the first time in January.
The move throws into question a bill that sought to reform policies across the energy sector, from hydroelectric dams to home efficiency to defense against cyber attacks on the power grid.
North Carolina-based Duke, which is the nation’s top power generator, currently runs its Central and South American power plants from Houston.
The Houston-based oil and gas producer said it booked a total of $5.4 billion of after-tax charges, mostly due to cheap oil eroding the value of its assets.
ConocoPhillips, the No. 3 U.S. oil company, announced a quarterly loss on Thursday and said it is cutting its shareholder dividend by two thirds.
The job cuts will have brought the company’s workforce down by 20,000 since the oil-market crash began in 2014.
The comments come as the United States and countries around the world work on cutting greenhouse gas emissions to the point the earth’s temperature does not rise more than two degrees Celsius.