Energy & Oil

• 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.

• Monday, April 13th 2020 - 10:54 UTC

  Oil prices recover modestly following a historic deal by world's largest producers

  

  Oil prices jumped on Monday after swinging wildly in early trading as investors weighed whether a historic deal by the world’s biggest producers to cut output would be enough to steady a market pummeled by the coronavirus.

• Monday, April 13th 2020 - 10:15 UTC

  Mexico has its oil protected by a sovereign hedge ensuring against low prices

  

  While Mexico and Saudi Arabia fought over a deal to bring the oil-price war to an end, Mexico has a powerful defense: a massive Wall Street hedge shielding it from low prices. The Mexican sovereign oil hedge, which ensures the country against low prices and is considered a state secret, is a factor that may make the country less inclined to accept the OPEC+ agreement.