Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts had expected, bolstering hopes that fuel demand in the world's biggest economy can weather the coronavirus pandemic.
The UK's oil industry is in “crisis” as prices drop, a senior industry leader has told the BBC. Oil companies and service providers are cutting staff and investment to save money.
Oil prices climbed in early trade on Monday, clawing back over half of Friday's losses, on hopes for a stimulus deal to shore up the U.S. economic recovery and a pledge from Iraq to deepen its crude oil supply cuts.
Brazilian oil exports more than doubled in July to 8.19 million tons, compared to 3.76 million tons shipped in July 2019, according to data released by the Foreign Trade Secretariat, Secex.
Brazil oil giant Petrobras released a bidding notice for the lease of the Bahia LNG regasification terminal (TR-BA) and its associated facilities. The bidding will be restricted to companies accepted in the prequalification call which will follow pre-established criteria.
Just over two months after completing a special outflow to increase the level of the drought-stricken Paraná River, the world largest operational hydroelectric dam, Itaipu, located on the border of Brazil with Paraguay, will increase energy production to help sailing along the huge South American water artery.
Guyana's elections commission on Sunday declared opposition presidential candidate Irfaan Ali the winner of a disputed Mar 2 election, paving the way for a change in power in the newly oil-producing South American country.
Marathon Petroleum Corp sold its Speedway gas station network to 7-Eleven Inc, a subsidiary of Japan's Seven & Holdings Co, for US$21 billion in an all-cash deal, the companies said on Sunday.
Guyana’s crude production has reached 100,000 b/d, 25% up on June, energy department director Mark Bynoe revealed even as the country continues to see an announcement on the 2 March, 2020 election results pushed further and further into the year.
Chevron said Monday it would buy Noble Energy in a US$ 5 billion all-stock deal, bolstering its shale presence as a plunge in crude prices have made assets cheaper. The deal, the largest in the U.S. energy sector this year, comes more than a year after Chevron abandoned its offer for Anadarko Petroleum, outmaneuvered by Occidental Petroleum higher bid.