Oil

Chevron on Friday reported steep losses in the second quarter.

Exxon Mobil Corp. recorded its second consecutive quarterly loss as lower oil and gas prices sapped production gains and the decimation in global travel crimped fuel demand amid the coronavirus pandemic.

Shell reported that adjusted profit dropped to $638 million from $3.46 billion in the same period last year

President Trump visited Texas Wednesday to tout America’s energy independence and sign four permits that will allow for the construction of pipelines and railway infrastructure on the southern border.

Brent crude is a global benchmark for oil prices.

West Texas Intermediate crude oil is a global benchmark for oil prices.

President Trump is expected to deliver remarks on how the U.S. is achieving energy dominance by cutting regulations, simplifying permitting, and encouraging private investment in energy infrastructure.

The average U.S. price of regular-grade gasoline inched up less than penny to $2.25 per gallon

The Permian Basin, one of the leading oil-producing fields in the world, spans parts of West Texas and southeastern New Mexico and stretches 250 miles wide and 300 miles long.

Figures from the end of last year show that less than a quarter of Chevron’s U.S. executives and senior managers were female, and only 22% were from ethnic minorities.

Schlumberger recorded $3.7 billion in impairment charges in the second quarter, including about $1 billion in severance charges.

Halliburton lost $1.7 billion in the second quarter as the coronavirus pandemic provided difficult business conditions.

The transaction values Noble at $10.38 a share or a 7.45 percent premium to Friday’s closing price.

Buying the company would expand Chevron’s presence in the DJ Basin of Colorado and Permian Basin, which spans West Texas and New Mexico.