Latest news
Covid-19 crash to speed green shift for oil firms – analysts
The coronavirus outbreak and accompanying oil price crash – which have seen levels slump to near two-decade lows this week – will hasten a green transition among oil and gas majors, analysts told Montel.
read more... 01/04/2020
LNG suppliers flood market with excess spot cargoes as demand shrinks
Liquefied natural gas (LNG) suppliers are flooding the market with excess spot cargoes, generating fresh headwinds for prices, as demand dwindles globally because the coronavirus outbreak has disrupted industrial output and people’s movement.
read more... 30/03/2020
China buys record volume of Russian oil as European demand dives: traders
China is buying a record 1.6 million tonnes of Russian oil for loading at sea over the next four weeks, taking advantage of rock bottom prices for Russia’s flagship Urals grade combined with a collapse in demand in Europe, traders said on Wednesday.
read more... 26/03/2020
Equinor slashes investment, spending in $3 billion coronavirus package
Norwegian oil firm Equinor will cut investments, exploration drilling and operating costs as part of a $3 billion plan to help the company weather the coronavirus crisis and low oil prices, it said on Wednesday.
read more... 25/03/2020
Developing nations may lose up to 85% of oil and gas income this year - IEA, OPEC
Developing nations’ oil and gas income will fall by 50% to 85% this year to a more than two-decade low if current market conditions persist, the International Energy Agency and OPEC said in a rare joint statement on Monday, citing recent IEA analysis.
read more... 17/03/2020