We're entering a key period…
Crude oil prices went lower…
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas…
There is virtually no economic sector on Earth that has not been impacted by the spread of the novel coronavirus, but few have been as thoroughly battered as…
BP, the British oil company, announced this week it would reduce the value of its oil and gas assets by $17.5 billion. Even though this represents a large potential asset…
The fossil fuel industry has faced serious headwinds for several years, but the rise of renewables combined with the fall in consumption as a consequence of the global corona crisis…
Oil prices recovered a bit on Wednesday morning after the Energy Information Administration reported an inventory build of 1.2 million barrels for the week to June 12. Fuel inventories,…
Saudi Arabia is significantly cutting its crude oil exports to the United States this month, with shipments likely to hit a 35-year low and reducing the overhang in U.S. oil…
The world’s third-largest crude oil importer, India, plans to double its refining capacity by 2030 from the current 5 million barrels per day (bpd), Oil Minister Dharmendra Pradhan said at a…
Exxon has reduced its crude oil production at the Liza offshore field in Guyana due to the risk of excessive flaring, according to the South American country’s regulator, as
Few markets have been hit harder by coronavirus than United States shale. While global oil prices as a whole have taken quite a beating from a fall in…
Decarbonization and the energy transition used to be a topic for environmentalists and leftist politicians. Not so long ago photovoltaic cells and wind turbines were produced on a…
Texas oil and gas executives have a lot on their minds right now, but their worst fear for the next twelve months is neither the recession nor the pandemic—it’s the…
Iraq’s government has approached international oil companies operating some of its largest oilfields to reduce production further and they have agreed, Reuters reports, citing an unnamed source from the…
Saudi Arabia’s oil giant Aramco has cut the crude oil shipments loading in July to at least five of its customers in Asia, Reuters reported on Monday, quoting sources…
An OPEC+ monitoring panel will meet next week to discuss the ongoing record production cuts to see how laggards in compliance are doing with making up for flouting…
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 5, to 279, with the total oil and gas…
When a week ago, Rystad Energy reported that the oil and gas industry was divesting more than 12 billion barrels of oil equivalent…
It’s been a tough year for U.S. shale. Even before the novel coronavirus pandemic pummeled oil markets, the shale revolution had been pronounced dead, with
The collapse in oil prices and the tightening U.S. sanctions against Venezuela have accelerated the decline of the oil industry in the country sitting on the largest crude oil reserves…
Commodity trading giant Trafigura reported a 27-percent increase in its net profit for the first half of its financial year, to March 31, citing strong physical trade in crude…
By the end of the second quarter of 2020, data from drill bits may tell us whether or not the world has found the next Eagle Ford, and it’s all…