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World 24 Oct 2020 | 6:26 AM

Number of active U.S. drilling rigs increase this week

HOUSTON, Oct. 23 (Xinhua) -- The number of active drilling rigs in the United States increased by five to 287 rigs this week, down by 564 year on year, according to the weekly data released Friday by Houston-based oilfield services company Baker Hughes.

World 24 Oct 2020 | 1:27 AM

Chinese-owned Surge Energy expands oil field business in U.S. Texas

HOUSTON, Oct. 23 (Xinhua) -- The Houston-based Surge Energy U.S. Holdings Co. has been expanding its scale of oilfield assets through exploration and acquisition, overcoming challenges brought by oil price shocks and the COVID-19 pandemic, the company's CEO said Friday.

World 23 Oct 2020 | 12:26 AM

Lower oil demand likely to persist beyond 2021 due to COVID-19 pandemic: World Bank

WASHINGTON, Oct. 22 (Xinhua) -- While metal and agricultural commodities have recouped their losses from the COVID-19 pandemic and are expected to make modest gains in 2021, energy prices, despite some recovery, are expected to stabilize below pre-pandemic levels next year, the World Bank said Thursday.