Energy & Oil

Tuesday, July 14th 2020 - 09:50 UTC
The virus has reached Petrobras offshore oil rigs; prosecutors investigations into the outbreaks

On Friday, May 1, two workers on the PXA-1 offshore platform owned by Brazil's state-run oil company Petrobras checked into the facility's infirmary complaining of headaches and fever-like symptoms. Another Petrobras employee fell visibly ill the following day, according to Brazilian media.
Tuesday, July 14th 2020 - 09:49 UTC
Russia replaces Venezuela as supplier of heavy fuel to US refineries

Russia kept fuel oil exports to the United States close to its record-highs in the first six months of this year, as Washington looks to replace the heavy Venezuelan barrels it stopped buying a year ago, traders said and data showed.
Monday, July 13th 2020 - 08:39 UTC
Copper prices hit their highest in two years, over a Chilean miners' strike

Shanghai copper hit its highest in nearly 25 months on Monday, while London copper scaled a 24-month high, on supply worries from top producer Chile due to a potential strike at a mine.
Friday, July 10th 2020 - 07:56 UTC
Copper recovering strongly, and at its highest levels since January

Copper raced to its highest levels since January this week as speculators piled into the market, betting on further disruptions in top producer Chile and firm demand from the biggest consumer China.
Friday, July 10th 2020 - 07:48 UTC
Demand for FPSO vessels tumbles but could pick up in 2021 estimates oil industry

Beset by the second industry downturn in five years, global awards for floating production, storage and offloading (FPSO) vessels will likely number just one in 2020 as exploration and production firms cut budgets and activity, Rystad Energy predicted. However in 2021 should be a recovery year mainly in Brazil and Guyana and probably in the Falkland Islands.
Friday, July 3rd 2020 - 08:48 UTC
US prosecutors file a lawsuit to seize gasoline aboard four tankers heading to Venezuela from Iran

United States prosecutors filed a lawsuit to seize the gasoline aboard four tankers that Iran is trying to ship to Venezuela, the latest attempt by the Donald Trump administration to increase economic pressure on the two U.S. foes.
Monday, June 29th 2020 - 10:55 UTC
COVID-19 could crush Argentina’s shale boom

By Nick Cunningham of Oilprice.com – Holding some of the largest shale oil and gas reserves in the world, Argentina is often cited as the likely candidate for the next big shale boom, and Vaca Muerta is often described as having the potential to be South America’s Permian basin.
Monday, June 29th 2020 - 09:21 UTC
Oklahoma shale pioneer Chesapeake Energy files for Chapter 11 protection

Chesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest US oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets.
Friday, June 26th 2020 - 08:19 UTC
District of Columbia files lawsuit against oil majors for “misleading” consumers con climate change

The attorney general for the District of Columbia on Thursday filed a lawsuit against Exxon Mobil, BP, Chevron and Royal Dutch Shell for “systematically and intentionally misleading” consumers about the role their products play in causing climate change, the latest action by a US attorney general against the oil and gas industry.
Tuesday, June 23rd 2020 - 11:55 UTC
Mexico freezes bank accounts of companies blacklisted by US for evading sanctions against Venezuela

The Mexican government’s financial crime department has frozen the bank accounts of companies and people blacklisted by the United States under accusations of having evaded the sanction regime imposed on Venezuela, its chief said on Friday.