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Pacific National Capital 's Daily Oil & Gas News

Oil CEO Says US Shale Rebound Is At Least a Year Away
US shale drillers may still take at least a year before moving rigs back into the field.

Chevron to Cut Global Workforce by Up to 15 Percent
Chevron plans to strip $1 billion of operating expenses this year in addition to slashing capital spending by almost a third.

Oil Slips From 11-Week High
Investors weighed whether or not Russia would extend output curbs when OPEC+ meets in two weeks.

Exxon Shareholders Say No to Splitting Chairman, CEO Roles
Pressure for Exxon to appoint an independent chairman, separate to the CEO, has been building for years.

Oil Cargo Purchases in Asia Signal Demand Comeback
It's another sign that demand is coming back in the world's biggest crude-importing region.

Offshore Workers Criticize Pemex
Critics say Pemex's actions mirror that of the administration of President Andres Manuel Lopez Obrador.

GWA JV Gets Lincoln Extension from OGA
The UK Oil & Gas Authority has extended the deadline for the commencement of the GWA joint venture's commitment well on the Lincoln subarea of license P1368 to June 30, 2022.

Texas Oil Production Drops
Crude oil production in Texas dropped year on year in March, according to the Railroad Commission of Texas' latest figures.

Offshore Workers Exempt from New UK Border Rule
Workers undertaking activities in offshore installations are exempt from new self-isolation requirements for UK arrivals.

Oil Down on Signs Russia May Ease Supply Cuts
Oil declined from the highest settlement in 11 weeks on signs Russia was planning to start easing supply cuts from July.