Tsvetana Paraskova

Latest articles from Tsvetana

• India’s Top Refiner Declares Force Majeure On Oil Imports From Saudi Arabia

  Published 01 April 2020 | viewed 760 times

  Indian Oil Corp (IOC), the country’s biggest refiner and fuel retailer, has declared a force majeure on oil imports from some of its top oil…

• Unprecedented Demand Destruction Marks The Return Of The Super Contango

  Published 01 April 2020 | viewed 3,410 times

  These days, every corner of the oil market is “unprecedented”—from the demand destruction to the supply surge and the resulting glut. The oil futures curve…

• Russia Decides Not To Boost Oil Output

  Published 01 April 2020 | viewed 22,195 times

  Russia is not raising its crude oil production because it doesn’t make sense for Russian firms to boost output while the market is oversupplied, a…

• Supermajor Bails On Shale As Oil Price War Weighs

  Published 01 April 2020 | viewed 10,667 times

  UK supermajor BP joined on Wednesday its rivals in slashing capital expenditures and reducing U.S. shale production guidance in “the most brutal environment for oil and gas…

• Shale Giant Files For Bankruptcy As Oil Price War Rages On

  Published 01 April 2020 | viewed 36,676 times

  U.S. shale producer Whiting Petroleum Corporation, once one of the top producers in the Bakken, said on Wednesday that it had filed for bankruptcy protection,…

• Traders Scramble To Be First In Line To Ditch Crude Oil

  Published 31 March 2020 | viewed 37,836 times

  While oil futures hit an 18-year-low on Monday, the prices of physical barrels from Europe to North America slumped to record discounts to benchmarks and…

• Chinese Oil Giant Forced To Postpone Canadian Drilling Campaign

  Published 31 March 2020 | viewed 6,941 times

  China National Offshore Oil Corporation (CNOOC) is postponing this year’s planned drilling campaign offshore Canada’s east coast because of the coronavirus pandemic, the Chinese state-held…

• Terrorist Attack Halts Iranian Natural Gas Exports To Turkey

  Published 31 March 2020 | viewed 8,201 times

  Iran’s natural gas exports to Turkey were suspended early on Tuesday local time after a pipeline explosion occurred on Turkey’s territory near the Iranian border. According to…

• Oil Major Faces $800 Million In Write Downs As Price War Escalates

  Published 31 March 2020 | viewed 11,631 times

  Shell expects the price collapse to lead to post-tax impairment charges of between US$400 million and U$800 million for the first quarter this year, the…

• Standard Chartered Sees Record Oil Demand Loss This Year

  Published 31 March 2020 | viewed 6,387 times

  Lockdowns and travel restrictions will result in an oil demand loss of 18.5 million bpd in April, with demand for the full-year 2020 expected to…

• Relentless Oil Price War To Cause Huge Number Of Well Shut-Ins

  Published 30 March 2020 | viewed 26,458 times

  Plunging demand, surging supply, and strained storage capacity have put so much downward pressure on oil prices that producers are now considering shutting-in oil wells.  …

• Supertanker Rates Explode As Traders Race To Store Oil

  Published 30 March 2020 | viewed 15,964 times

  Supertanker rates are surging again, for a second time this month, as a growing global glut is making more traders and companies look to charter…

• Goldman: The Oil Industry Will Never Be The Same After Coronavirus

  Published 30 March 2020 | viewed 56,327 times

  The unprecedented oil demand plunge in the COVID-19 pandemic is poised to change the oil sector forever, as fewer companies holding high-quality assets emerge after…

• Oil Hits $20 For The First Time In 18 Years

  Published 30 March 2020 | viewed 48,025 times

  Oil prices plunged on Monday to their lowest levels in eighteen years, below $20 per barrel, as the coronavirus pandemic continues to cripple global oil…

• Oil Prices Slide As Saudi Arabia Confirms Another Export Boost

  Published 30 March 2020 | viewed 70,685 times

  Saudi Arabia is not backing down from the oil price war for market share, pledging another increase in its crude oil exports starting in May,…

• Canadian Drillers Face Nightmare Scenario As Oil Crashes To $5

  Published 28 March 2020 | viewed 143,888 times

  The U.S. shale patch laments oil prices in the low $20s crippling companies with already weakened debt and liquidity profiles. But further north, the outlook for Canada’s…

• Price War Hits Africa’s Largest Oil Producer

  Published 27 March 2020 | viewed 40,289 times

  Caught in the Saudi-Russian oil price war, Africa’s largest oil producer, Nigeria, has discounted deeply its crude and aims to pump as much as it…

• Egypt Sentences Five People To Death For Deadly Oil Pipeline Explosion

  Published 27 March 2020 | viewed 16,436 times

  An Egyptian criminal court sentenced this week five people to death for oil pipeline damage that killed nine people in November, Egyptian media report. Five other…

• Iraq Wants 30% Capex Cut From Foreign Oil Firms

  Published 27 March 2020 | viewed 18,659 times

  Iraq, one of the oil producers worst hit by the oil price crash, is proposing that all foreign oil firms operating in OPEC’s second-largest producer…

• Chinese Oil Giant Is Slashing Spending

  Published 27 March 2020 | viewed 14,520 times

  China's biggest oil and gas producer PetroChina said it would adjust its previously approved capital expenditure (CAPEX) for this year as Chinese state oil majors…