A lot of attention has been paid to the plight of upstream oil and gas companies — the hardest-hit subsector amid the Covid-19 pandemic — but further downstream, refiners and LNG companies are also feeling some pain. Refinery utilization rates — a measure of how much of their production capacity refineries are using — are […]
London-based energy giant BP PLC (NYSE: BP), which has its U.S. headquarters in Houston, plans to cut about 15% of its global headcount, Reuters and the Associated Press reported June 8. Sources told Reuters that CEO Bernard Looney told employees in a global online call that about 10,000 of the company’s 70,100 positions would be cut. The cuts, […]
Two energy companies, Houston- and New Jersey-based NRG Energy Inc. (NYSE: NRG) and Houston-based Aramco Americas, have each committed over $2 million to Covid-19 relief efforts. Combined, $630,000 of the funds went toward Houston Methodist, according to recent announcements. Houston-based Reliant Energy, part of NRG, made a $100,000 donation to Houston Methodist to establish the “Reliant […]