- — Trump, Biden clash over climate, oil industry in final debate
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at 10/23/20 3:00pmRepublican President Donald Trump and Democratic challenger Joe Biden clashed over the country’s response to climate change in their final presidential debate on Thursday, which included a stark disagreement over the future of the oil industry. The candidates were asked at their matchup in Nashville, Tennessee, what they would do to combat climate change – ...
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- — APAC Downstream Oil & Gas Corps in Gradual, Uncertain Recovery
- at 10/23/20 3:00pm
Fitch Ratings-Mumbai/Hong Kong-21 October 2020: Better containment of COVID-19 will lead to a sharper demand recovery for China and Taiwan’s downstream oil and gas companies than that of Indian oil marketing companies (OMC) in 2H20, Fitch Ratings says in a new report. However, higher marketing margins will mitigate the impact of refining weakness on Indian ...
The post APAC Downstream Oil & Gas Corps in Gradual, Uncertain Recovery first appeared on Hellenic Shipping News Worldwide.
- — Oil falls about 2% on Libyan output, COVID-19 demand concerns
- at 10/23/20 3:00pm
Oil fell nearly 2% on Friday, finishing lower for the week, in anticipation of a surge in Libyan crude supply and demand concerns caused by surging coronavirus cases in the United States and Europe. Crude prices sank after Libya’s National Oil Corp (NOC) said it lifted force majeure on exports from key ports and output ...
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- — Iraq’s Kurdish region says oil output cuts hinge on federal payments
- at 10/23/20 3:00pm
Iraq’s semi-autonomous Kurdish region will trim its output in line with OPEC+ cuts provided the federal government pays its dues to Erbil, a Kurdistan Regional Government spokesperson said Oct. 22 after Iraq’s oil minister said the region had failed to comply with output curbs. “The KRG has committed to reducing its crude oil production in ...
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- — N. Sea floating volume builds amid fresh slowdown in European demand
- at 10/23/20 3:00pm
The floating storage levels of the Brent, Forties, Oseberg, Ekofisk and Troll (BFOET) grades in Northwest Europe have edged up to their highest levels since the peak of Europe’s coronavirus lockdown from March to June, according to data intelligence company Kpler. The week beginning Oct. 12 saw floating volumes at 6.2 million barrels, the highest ...
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- — Recovery of global economy and oil demand may start in 2021 — Rosneft CEO
- at 10/23/20 3:00pm
Recovery of the global economy and demand for oil may begin as early as 2021, Rosneft CEO Igor Sechin said at the XIII Eurasian Economic Forum. “According to available estimates, the recovery of the global economy and oil demand may begin as early as 2021. But humanity needs to make coordinated efforts to achieve results. ...
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- — Russia’s Putin: rollover on oil output curbs possible
- at 10/23/20 3:00pm
Russian President Vladimir Putin said that Russia saw no need for now for global oil producers to change their existing deal on global supply, but did not rule out extending deep oil cuts for longer if market conditions warranted. His comments are the clearest signal yet from Russia, one of the world’s top oil producers, ...
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- — US oil and gas rig count climbs 11 to 347 as crude prices stabilize: Enverus
- at 10/23/20 3:00pm
The US oil and gas rig count rose by 11 to 347 in the week ended Oct. 21, rig data provider Enverus said, marking a second straight week of double-digit increases. The number of oil-focused rigs climbed eight to 246, the highest since the week ended May 20 and 25% above its August low of ...
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- — Venezuela’s PDVSA expects oil export price of $35 per barrel in 2021
- at 10/23/20 11:00am
Venezuela’s state-run oil company Petroleos de Venezuela expects to earn just $35 per barrel of oil exports next year, down from the $60 it projected for 2020, according to a copy of the company’s 2021 budget seen by Reuters on Thursday. The drop in expected pricing, in line with a decline in crude prices worldwide ...
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- — Oil holds near $42, heads for weekly loss as virus cases surge
- at 10/23/20 3:00am
Oil steadied near $42 a barrel on Friday, heading for its first weekly drop in three, as surging coronavirus cases in the United States and Europe raise concerns about demand and Libyan output rises. Several U.S. states reported record daily increases in infections on Thursday, while France extended curfews for about two-thirds of its population ...
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- — Refiner profits to fall sequentially in Q3 as ‘COVID-related carnage’ lingers
- at 10/23/20 3:00am
On the heels of one of the most challenging quarters the industry has faced, analysts expect U.S. oil refiners to report another round of dismal earnings results for the third quarter as the industry continues to endure fallout from the COVID-19 pandemic. In the second quarter, analysts had expected the revenue of the seven largest ...
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- — Greek demand bounces back as renewables and gas dominate mix
- at 10/23/20 3:00am
Greek electricity demand bounced back in September, rising 1.66% year on year after a 4.6% decline in August, data from system operator Energy Exchange Group showed. This was despite government warnings early in October that the Greek economy would shrink by an estimated 8.2% this year due to the effects of the coronavirus pandemic. September ...
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- — Permian consolidation wave could continue after Pioneer-Parsley, Conoco-Concho deals
- at 10/22/20 3:00pm
A sudden wave of consolidation in the Permian Basin after many months of deal-making silence is expected to continue in spurts in a trend that should expand to other regions such as the Bakken Shale and DJ Basin, energy analysts said. In a series of all-stock deals, ConocoPhillips scooped up Permian pure play Concho Resources ...
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- — Oil ends higher, boosted by U.S. stimulus hopes
- at 10/22/20 3:00pm
Oil prices ticked up on Thursday, boosted by the possibility of an economic stimulus package in the United States, but struggled to recover fully from the previous session’s losses when higher U.S. gasoline inventories signalled a deteriorating demand outlook as coronavirus cases soar. Brent crude futures settled 73 cents higher at $42.46 a barrel and ...
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- — Exxon Mobil ‘very close’ to disclosing U.S., Canada job cuts, says CEO
- at 10/22/20 3:00pm
Exxon Mobil Corp XOM.N is “very close” to completing its workforce appraisals in the United States and Canada and expects to unveil job cuts, its chief executive told employees in an email on Wednesday. The second-largest U.S. oil company by market value lost nearly $1.7 billion in the first six months and analysts forecast a ...
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- — The Commodities Feed: US gasoline build weighs on the market
- at 10/22/20 3:00pm
Energy The oil market came under pressure yesterday, and this has continued in early morning trading in Asia, with WTI breaking below US$40/bbl. This comes despite the EIA yesterday reporting that US crude oil inventories declined by 1MMbbls over the last week, not too far off market expectations. The draw was largely due to the ...
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- — What will the 2020 elections mean for US energy?
- at 10/22/20 3:00pm
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump rejects the idea of using government policy to cut greenhouse gas emissions, and talks about energy in terms of prices and jobs. Joe Biden says he would create jobs through a “clean energy ...
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- — Oil production costs reach new lows, making deepwater one of the cheapest sources of novel supply
- at 10/22/20 3:00pm
A comprehensive Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% over the last two years, and 35% since 2014. This means that oil is much cheaper to produce now compared to six years ago, with ...
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- — Iraq flags oil project delays, sees recovery next year -minister
- at 10/22/20 3:00pm
The Iraqi oil minister said on Tuesday that oil projects are being delayed in his country because of the OPEC+ production cuts, but he expects an oil price recovery from the second quarter of next year to help the sector. “I think quarter two, 2021 will be more attractive to every aspect of our business,” ...
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- — Oil struggles to recover after U.S. gasoline stocks build
- at 10/22/20 3:00am
Oil prices ticked up on Thursday but struggled to fully recover from the previous session’s losses when a build in U.S. gasoline inventories signalled a deteriorating outlook for fuel demand as coronavirus cases soar. Brent crude LCOc1 futures were up 22 cents at $41.95 a barrel at 0803 GMT. U.S. West Texas Intermediate (WTI) crude ...
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- — Russia may support global cuts rollover beyond 2020 if oil markets worsen -sources
- at 10/22/20 3:00am
Russia may support keeping cuts in global oil output unchanged after 2020, when they are due to be eased, if world markets worsen due to sluggish demand and a surge in new coronavirus cases, two industry sources told Reuters. The Organization of the Petroleum Exporting Countries and other producers led by Russia, a group known ...
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As of 10/25/20 5:37am. Last new 10/23/20 3:39pm.
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