Demand for loans from the…
The global upstream M&A market…
Azerbaijan faces potential sanctions from…
Saudi Aramco reported a net profit of $88.2 billion for 2019, down from $111.1 billion a year earlier as low oil prices and production curbs took their toll on…
The United States will start buying crude oil for the Strategic Petroleum Reserve within the next two weeks, with plans to buy around 77 million barrels, Bloomberg reported. The…
Benchmark U.S. oil prices plunged to below $30 a barrel early on Monday, while Brent Crude crashed by 10 percent, as the markets were spooked, rather than calmed, by the…
The largest independent oil trader in the world, Vitol Group, is discussing the purchase of Venezuelan crude oil from a Mexican firm that had received the crude in exchange for…
Jet fuel demand will be the hardest hit fuel sector as the coronavirus outbreak spreads across the world, countries impose travel restrictions, and airlines continue to cancel thousands of flights,…
Canada’s Husky Energy is the latest North American oil firm to slash spending amid collapsing oil prices, saying that it is reducing its capital budget by US$648 million (C$900…
Even though OPEC is now flooding the market with cheap oil, Unipec – the trading unit of Asia’s largest refiner, Chinese Sinopec – is attempting to defer or cancel the…
U.S. shale oil companies have asked oilfield service providers for price cuts of at least 25 percent as they grapple with tanking oil prices and pessimistic oil demand forecasts, Reuters…
The Albertan government is preparing a low-interest credit package for the struggling oil industry in Canada’s oil heartland to mitigate the worst consequences of the latest price collapse. "We are…
Venezuela is in discussions with OPEC and Russia about the current oil price collapse, Nicolas Maduro said on Thursday at a press conference shown on Twitter, according to Russian news…
Alaska, the U.S. state most dependent on taxes and other income from the oil and gas industry, could be in for a severe budgetary headache after the oil price crash…
OPEC’s second-largest producer, Iraq, has been grappling with street protests for months and the coronavirus outbreak for a few weeks, and now it faces another tough test for its finances—the…
Surging shale production and growing global demand for light low-sulfur oil helped U.S. crude exports to soar by 45 percent year on year in 2019, reaching an average of 2.98…
For years now, Russia has been laser-focused on insulating itself from an external economic shock.It may have just sparked one.In an unexpected move on March 6,…
Employees at U.S. oil supermajors have lost $5 billion in savings since the end of 2018 as more than a third of these savings were in company…
Reuters recently reported on Tesla’s announcement that it is in advanced talks to use batteries from China’s Contemporary Amperex Technology Co Ltd (CATL) that contain no cobalt specifically for use in cars made at Tesla’s…
The March 18 meeting of the OPEC+ panel monitoring the oil market and producers’ compliance with quotas has been canceled, a source in one delegation told Russia’s news agency
Oil industry representatives have pitched for discussion to the U.S. Administration the idea that Washington buy cheap crude oil to replenish the Strategic Petroleum Reserve, which would also remove millions…
US Shale tycoon Harold Hamm has plans to file an official complaint with the US Department of Commerce against Saudi Arabia, according to Bloomberg, after the Kingdom unleashed a…
China’s independent refiners, which buy a fifth of total Chinese crude oil imports, are increasing their run rates and buying ultra-cheap crude, taking advantage of the Saudi-Russia price war, Reuters…