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Bieber Highlights Oil Pain and More  | Rigzone

Bieber Highlights Oil Pain and More  | Rigzone

Here are some of Rigzone’s top upstream stories during the last week, just in case you missed them…

Justin Bieber Highlights Oil Pain

Justin Bieber highlighted the pain of oil industry layoffs in his latest music video. The video echoed the real world to some degree, as thousands of oil and gas professionals have lost their jobs over the past few months.

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Executives Predict 2020-End Oil Price

According to the latest Dallas Fed energy survey, the price of West Texas Intermediate (WTI) oil at the end of the year will be between $40 per barrel and $44.99 per barrel. The survey collected the views of executives from 162 oil and gas firms.

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$200MM Oxy Cash Payout Suggests Growing Confidence

Bloomberg highlighted that Occidental Petroleum Corp. (Oxy) will pay around $200 million in dividends on preferred shares to Berkshire Hathaway Inc. in cash rather than common stock. Bloomberg labeled the move a sign of Oxy’s growing confidence in its ability to manage its debt load.

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Some Producers Setting Records Despite Low Drilling Levels

Some oil and gas companies are managing to deliver more than respectable results despite recent figures from a leading U.S. oil and gas industry organization revealing that drilling activity has plunged to a nearly 19-year low.

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Repsol Selects Drilling Contractor for Mexico Campaign 

Stena Drilling has signed a new contract with Repsol and others to provide a drillship for a 2021 offshore Mexico drilling campaign.

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Violence Creeps Toward $20B Mozambique LNG Project

Bloomberg reported that Total’s Chief Executive Officer Patrick Pouyanne and the Mozambican president Filipe Nyusi met to discuss an intensifying Islamic State-linked insurgency in the country’s north.

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