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COVID Crisis Could Unify World’s Largest Oil Companies

COVID Crisis Could Unify World’s Largest Oil Companies Sir Winston Churchill once admonished leaders to never let a good crisis go to waste. Wall Street banks and other large banks have been paying attention: They were shrewd enough to seize the opportunity presented by the last financial crisis to get hard-nosed government agencies to approve […]

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WORLD’S LARGEST OIL COMPANIES: Deep Trouble As Profits Vaporize While Debts Skyrocket

WORLD’S LARGEST OIL COMPANIES: Deep Trouble As Profits Vaporize While Debts Skyrocket The world’s largest oil companies are in serious trouble as their balance sheets deteriorate from higher costs, falling profits and skyrocketing debt.  The glory days of the highly profitable global oil companies have come to an end.  All that remains now is a […]

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The Oil Crash Of 2016 Has The Big Banks Running Scared

The Oil Crash Of 2016 Has The Big Banks Running Scared Last time around it was subprime mortgages, but this time it is oil that is playing a starring role in a global financial crisis.  Since the start of 2015, 42 North American oil companies have filed for bankruptcy, 130,000 good paying energy jobs have been lost in the […]

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“Oil Drillers Are Going To Die” In Q2, Conway Mackenzie Warns “Expect Outright Liquidations”

“Oil Drillers Are Going To Die” In Q2, Conway Mackenzie Warns “Expect Outright Liquidations” “The second quarter is going to be devastating for the service companies,” warns Conway Mackenzie – the largest U.S. restructuring firm – adding that, despite slashing thousands of jobs, delaying (or scrapping) billions in capex amid the prolonged rout in oil prices, […]

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Mounting Debt For Oil Drillers

Mounting Debt For Oil Drillers In recent years oil exploration companies have taken on more debt in order to finance their operations. The level of debt in the upstream sector – excluding integrated oil companies like ExxonMobil – hit $199 billion at the end of 2014, a 55 percent increase since 2010, according to the Wall […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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