Besides its important geo-strategic location,…
Lawsuits against big oil companies…
The S&P 500 reached record…
Suncor Energy is axing its quarterly dividend by 55 percent to reduce its cash breakeven to a WTI Crude price of US$35 a barrel, one of Canada’s biggest oil firms
U.S. oil production could decline this year by 2 million bpd-3 million bpd, due to limited storage capacity and low oil prices, Russia’s Deputy Energy Minister Pavel Sorokin told local…
Iraq, OPEC’s second-largest producer and the biggest cheater in previous production cut deals, faces problems in the new OPEC+ deal as well. Iraq's compliance with the deal is yet again…
Occidental Petroleum booked a net loss of $2.2 billion for the first quarter of the year, attributing most of it to goodwill impairment charges of $1.4 billion and equity investment losses…
The American Petroleum Institute (API) estimated on Tuesday another large crude oil inventory build, of 8.440 million barrels for the week ending May 1 as the demand destruction continues and…
Due to ongoing production cuts from Canadian oil producers and to increased storage capacity, the price of Canada’s heavy oil soared early this week to its smallest discount to the…
Energy-related carbon dioxide (CO2) emissions in the United States declined by 2.8 percent last year, offsetting a 2.9-percent carbon emissions increase in 2018, the Energy Information Administration (EIA) said on Tuesday.…
Shell’s Philippines unit will suspend refining operations at its 110,000-bpd refinery in the country for a month starting in the middle of May, due to the dramatic plunge in fuel demand…
Bank of China has told its clients that it would pick up the tab for part of the $1.4-billion total loss that its retail customers amassed from investing in a…
The executive director of the International Energy Agency (IEA), Fatih Birol, said that the turmoil in the oil sector caused by the covid-19 pandemic gives governments the perfect opportunity to…
French supermajor Total proved more resilient than some peers in the first quarter, remaining profitable despite a 35-percent decline in net income to $1.8 billion. The company said it would continue…
Hydropower plants, solar farms, and wind farms generated more electricity than coal in the United States for a record 40 days in a row, the Institute for Energy Economics and…
While OPEC begins to scale back oil production to offset at least partially some of the world’s excess oil supply, Venezuela was busy ramping up its oil exports—even in the…
Brazil’s Petrobras set a new oil exports record of 1 million bpd in April, as domestic demand plunged, the state-controlled oil firm said on Monday, days after a large group of…
Gasoline and diesel demand in the world’s third-largest oil importer, India, crashed by around 60 percent annually in April due to the nationwide lockdown to curb the spread of the…
Tesla has applied for a license to supply electricity in the United Kingdom, The Telegraph reports, citing a document. According to sources the daily cited in its report, Tesla will…
Armed militants, believed to be affiliated with one of the sons of eastern Libyan strongman General Khalifa Haftar, stormed during the weekend the headquarters of Brega Oil Marketing Company in…
Iran’s governor for OPEC, Hossein Kazempour Ardebili is in a coma following a severe cerebral hemorrhage, Iranian media are reporting. The official, who used to be deputy oil minister…
Chevron is complying with the U.S. Administration’s requirements, but it is not winding down all activities in Venezuela preparing to leave the country, the U.S. supermajor’s chief executive officer Michael…
U.S. oil supermajor Chevron Corporation (NYSE: CVX) reduced its capex guidance for the second time in two months to protect its dividend, as it warned on Friday that its financial…