Energy & Oil

• Wednesday, May 13th 2020 - 07:46 UTC

  Guyana's second offshore facility FPSO on schedule for first oil in 2022

  

  Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. announced. Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO.

• Tuesday, May 12th 2020 - 07:46 UTC

  Saudi Arabia to cut oil production to a decade record low of 7,5 million bpd

  

  Saudi Arabia said on Monday it had asked oil giant Aramco to cut an additional one million barrels per day from June, to support prices that have crashed during the coronavirus crisis.

• Monday, May 11th 2020 - 08:31 UTC

  Oil glut and lack of storage continues to weigh on oil prices

  

  Oil prices opened about one percent lower on Sunday as a persistent glut continued to weigh on prices and COVID-19 eroded global oil demand even as some governments began to ease lockdowns.

• Saturday, May 9th 2020 - 07:59 UTC

  Bolsonaro rules out raising gasoline taxes to support the ethanol industry

  

  Brazilian President Jair Bolsonaro effectively ruled out raising gasoline taxes on Thursday, a blow to the ethanol industry which had asked for a gasoline tax hike to boost its competitiveness amid the novel coronavirus pandemic.

• Thursday, May 7th 2020 - 13:04 UTC

  Chile anticipates a glut of some 200.000/300.000 tons of copper in 2020

  

  The global copper market is headed for a surplus of between 200,000-300,000 tons in 2020, the head of the miner Antofagasta told Chilean media, with operation halts at some mines offsetting depressed demand due to the coronavirus pandemic.

• Wednesday, May 6th 2020 - 09:40 UTC

  Petrobras record oil exports of one million barrels per day in April

  

  Petrobras set a new oil exports record of 1 million BPD in April, as domestic demand plunged, the Brazilian state-controlled oil firm said on Monday, days after a large group of other oil producers, OPEC+, began a 9.7-million-BPD collective cut aimed at rebalancing the market.

• Saturday, May 2nd 2020 - 07:20 UTC

  Shell announced it was cutting its dividend for the first time since World War Two

  

  Royal Dutch Shell cut its dividend for the first time since World War Two on Thursday as the energy company retrenched in the face of an unprecedented drop in oil demand due to the coronavirus pandemic.

• Friday, May 1st 2020 - 08:31 UTC

  US looking into Mexican firms involved in oil for food accord with Venezuela

  

  The U.S. State Department, the Treasury Department and the U.S. Embassy in Mexico are investigating at least two Mexican firms involved in an oil-for-food pact signed in 2019 with Venezuela’s government, U.S. officials said.

• Friday, May 1st 2020 - 08:27 UTC

  Rockhopper, Premier and Navitas LP confirm Falklands' Sea Lion farm-in agreement

  

  Rockhopper Exploration has provided an update on its previously announced Heads of Terms with Navitas Petroleum LP to farm into the Sea Lion project in the North Falkland Basin.

• Thursday, April 30th 2020 - 08:39 UTC

  Argentina refineries running at minimum capacity because of lack of demand

  

  A Buenos Aires crude oil refinery operated by Argentine state-controlled energy firm YPF is running with a minimal level of workers due to a drop in consumption and a lack of storage space amid a crash in global oil prices during the coronavirus pandemic, a spokesman said on Wednesday.