Tag: oil

Monday, August 3rd 2020 - 09:45 UTC
Major sale of gas station network in the US for an all cash deal of US$ 21bn

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.
Friday, July 31st 2020 - 10:20 UTC
Lack of political stability in Guyana is delaying expected oil output

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.
Monday, July 20th 2020 - 09:29 UTC
Brazilian oil industry showing resilience to coronavirus pandemic despite fall in investment

By Matthew Smith for Oilprice.com – Before the outbreak of COVID-19 and the oil price war between Saudi Arabia and Russia, an oil boom of monumental proportions was underway in Brazil, Latin America’s largest economy. Economists and industry analysts as far back as 2018 were speculating that it would be the largest in Latin America’s history. There were even signs that Brazil’s burgeoning oil production could challenge OPEC’s wanning supremacy.
Wednesday, July 15th 2020 - 08:55 UTC
Exxon resumes drilling in Guyana; local politics battle over the future oil revenue

Exxon Mobil resumed drilling in Guyana last month, underscoring its dedication to the offshore hotspot despite the oil price crash and a messy turn in local politics.
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.
Saturday, June 20th 2020 - 10:10 UTC
US blacklists Mexican companies involved in failed oil-for-food contract with Venezuela's Maduro

The United States blacklisted Mexican company Libre Abordo and a related firm, accusing them of helping Caracas evade US sanctions in the first formal action taken by the US Treasury Department against Mexican companies involved in trading Venezuelan oil.
Thursday, June 18th 2020 - 20:10 UTC
Vatican urges Catholics to disinvest from fossil fuel industries

The Vatican urged Catholics on Thursday to disinvest from the armaments and fossil fuel industries and to closely monitor companies in sectors such as mining to check if they are damaging the environment.
Monday, May 25th 2020 - 07:54 UTC
Iranian petrol reaches Venezuela, despite US warnings

The first of five Iranian tankers carrying fuel for gasoline-starved Venezuela entered the country's exclusive economic zone on Saturday, despite a US official's warning that Washington was considering a response to the shipment. The tanker, named Fortune, reached the country’s waters at around 7:40 pm local time (1140 GMT) after passing north of the neighboring dual-island Caribbean nation of Trinidad and Tobago, according to vessel-tracking data from Refinitiv Eikon.
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.