Irina Slav

Latest articles from Irina

• Texas Oil Drillers Prepare To Halt Production

  Published 31 March 2020 | viewed 40,675 times

  Texas oil companies may soon cut back production, both because of a looming lack of available storage space and because wells are becoming uneconomical at…

• China’s Sinopec Cuts Run Rates As It Prepares For Negative Growth

  Published 30 March 2020 | viewed 9,848 times

  China’s oil major Sinopec reduced its capital spending plan for 2020 and said it expected lower run rates this year because of the coronavirus outbreak, Reuters reported, citing…

• China Produces Record Amount Of “Fire Ice”

  Published 30 March 2020 | viewed 105,469 times

  In a world awash in oil and gas, you'd think it couldn't get any worse. Well, it can: China just announced that it had extracted…

• Pipeline Operators In Texas Urge Producers To Stop Pumping

  Published 30 March 2020 | viewed 21,594 times

  U.S. pipeline operators have issued a warning to some oil producers operating in Texas: reduce production rates because storage is filling up, a Texas Railroad…

• Rosneft Cancels Venezuela Oil Cargoes On Fresh Sanctions

  Published 30 March 2020 | viewed 17,922 times

  Russia’s Rosneft has canceled VLCC cargoes scheduled to carry 5.7 million barrels of Venezuelan oil because of U.S. sanctions, Reuters reports, citing data from PdVSA, and…

• Russia’s Plan To Bankrupt U.S. Shale Could Send Oil To $60

  Published 29 March 2020 | viewed 333,891 times

  As soon as U.S. shale leaves the market, prices will rebound and could reach $60 a barrel, Rosneft’s Igor Sechin said recently. As fate would…

• S&P Cuts Oil Nations Ratings

  Published 27 March 2020 | viewed 21,373 times

  Several oil-producing nations woke up to lower credit ratings from S&P amid the latest oil price rout, Reuters reports, listing Oman, Nigeria, Mexico, Angola, and…

• Is It Still Possible To Rebalance The Oil Market?

  Published 27 March 2020 | viewed 28,319 times

  There is still a chance to rebalance oil markets if the OPEC+ group expands to include more producing countries, the head of the Russian sovereign…

• LNG Producers Dump Spot Cargoes On Oversupplied Market

  Published 27 March 2020 | viewed 25,137 times

  Amid plunging gas demand, LNG producers are under pressure to dump their cargoes on the spot market, further depressing already low prices, Reuters reports, citing commodity…

• U.S. Gasoline Demand Plummets Despite Low Oil Prices

  Published 26 March 2020 | viewed 22,285 times

  Demand for gasoline in the United States fell by 859,000 bpd, the Energy Information Administration (EIA) said in its weekly petroleum status report. According to Reuters,…

• Canadian LNG Projects Delayed Amid COVID-19 Crisis

  Published 26 March 2020 | viewed 8,405 times

    Woodfibre LNG, a small-scale project in British Columbia, will be delayed by a year amid the Covid-19 crisis, which has prompted the shutdown of…

• Coronavirus Lockdown Forces India To Halt LNG Imports

  Published 26 March 2020 | viewed 7,004 times

  Indian liquefied natural gas importers have declared force majeure on imports as a nationwide lockdown on the 1.3 billion-strong nation has slashed consumption of the…

• Schlumberger, Halliburton Announce Hefty Spending Cuts

  Published 25 March 2020 | viewed 78,343 times

  Schlumberger and Halliburton joined the ranks of oil companies on a spending-cutting spree amid the steep oil price drop. Schlumberger said it would slash its…

• The Cost Of The Oil Price War Is Growing For Russia

  Published 25 March 2020 | viewed 31,903 times

  Russia's economy needs about a trillion rubles, or roughly $12.7 billion a month over the next few months to emerge stable from the coronavirus pandemic…

• Suncor Lowers Production, Cuts Spending By 26%

  Published 25 March 2020 | viewed 18,982 times

  One of Canada's biggest oil companies has been forced by low oil prices to partially shut down production at its Fort Hills oil sands project,…

• Troubled Shale Giant Slashes CEO Salary By 81%

  Published 25 March 2020 | viewed 23,029 times

  Occidental Petroleum will cut certain employee salaries by 30 percent in response to the steep drop in oil prices, Reuters reported, citing an internal document. CEO…

• World’s Largest Oil Trader Says Demand Could Plummet By 20 Million Bpd

  Published 25 March 2020 | viewed 46,338 times

  A dramatic change in oil demand coupled with an unexpected increase in production has upended the industry, Vitol’s chief executive Russell Hardy told Bloomberg in an interview.…

• Mexican Firm Buys 15 Million Barrels From Venezuela In Oil-For-Food Deal

  Published 25 March 2020 | viewed 15,827 times

  A private Mexican company will buy 15 million barrels of Venezuelan oil under an oil-for-food deal struck with the government in Caracas, the firm, Libre…

• Oil Price Slide Accelerates On Crude Inventory Build

  Published 25 March 2020 | viewed 31,066 times

  As the oil industry continues to struggle with oil price shocks, the U.S. Energy Information Administration reported a crude oil inventory build of 1.6 million barrels for…

• Oil Prices Are Set To Plunge Again

  Published 24 March 2020 | viewed 90,047 times

  Oil prices have been on the slide for more than two weeks now, and they will, in all likelihood, continue downward despite the respite from…