Energy & Oil

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.
Tuesday, April 28th 2020 - 07:12 UTC
Colombia's oil company raises funds in bonds market and plans to cut production

Colombia’s Ecopetrol said on Monday it raised US$ 2 billion through more than a doubly subscribed bond issue. Majority state-owned Ecopetrol issued 10-year paper due April 29, 2030, with a 7% yield.
Friday, April 24th 2020 - 08:25 UTC
With oil royalties plummeting, Rio state challenged by investment funds

Already grappling with one of Brazil’s most severe outbreaks of the novel coronavirus and a budget deep in the red, Rio de Janeiro state faces a potential threat to its solvency at the hands of investment giants PIMCO and Dodge & Cox.
Wednesday, April 22nd 2020 - 08:56 UTC
Trump orders a plan to aid US struggling oil companies with massive supply glut

President Donald Trump on Tuesday ordered his administration to come up with a plan to aid US oil companies struggling with a massive supply glut and record low crude prices. “We will never let the great U.S. Oil & Gas Industry down,” Trump tweeted.
Tuesday, April 21st 2020 - 10:16 UTC
US oil price on Monday turned negative for the first time in history

The price of US oil has turned negative for the first time in history. That means oil producers are paying buyers to take the commodity off their hands over fears that storage capacity could run out in May.
Monday, April 20th 2020 - 07:39 UTC
US oil falls to below US$ 15 a barrel and Brent dropped to US$ 27

US crude fell about 20% to below US$15 a barrel on Monday, its lowest level in about two decades, as a coronavirus-triggered collapse in demand eclipsed a deal to cut output. West Texas Intermediate, the US benchmark, fell 18.7% to US$14.84 a barrel. Brent crude, the international benchmark, was off 1.5% at US$27.64 a barrel.
Tuesday, April 14th 2020 - 07:48 UTC
Exxon raises US$ 9,5bn to bolster its finances; shares have lost 38%

Exxon Mobil Corp on Monday raised US$ 9.5 billion in new debt, with the largest U.S. oil producer seeking to bolster its finances while debt markets remain open to new deals.