Oil Industry Spending To Drop By $100 Billion This Year
Global capital expenditure (capex) for exploration and production firms (E&Ps) is expected to drop by up to $100 billion this year, about 17% versus 2019 levels, under Rystad Energy's updated?
Whether or not you follow oil markets, you will likely have seen articles in the media lately claiming that the price of oil has fallen to $20, or that?
Rosneft Cancels Venezuela Oil Cargoes On Fresh Sanctions
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 shipping data from Refinitiv?
Russia's Largest Oil Producer Halts Operations In Venezuela
Russia's largest oil producer, Rosneft, has announced that it is halting operations in Venezuela and selling its assets there to a company fully owned by the Russian government. Rosneft said?
The spreading coronavirus pandemic may too heavy of a burden for the already struggling coal miners in the United States, with three companies announcing operations halts due to measures to?
Supertanker Rates Explode As Traders Race To Store Oil
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 carriers to store oil at?
Relief On The Horizon? Trump And Putin Discuss Oil Markets
US President Donald Trump and Russian President Vladimir Putin agreed on Monday to have energy officials from both countries discuss the dire state of the global oil market, the Kremlin?
Aramco Oil Pipeline Unit For Sale: Price War May Be Too Successful
Saudi Aramco is considering a stake sale of its oil pipeline unit to raise some much-needed cash, as the reality of the oil price war it started with Russia sets?
China's Sinopec Cuts Run Rates As It Prepares For Negative Growth
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 a company VP.?
Pipeline Operators In Texas Urge Producers To Stop Pumping
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 Commissioner said in a tweet.?
