LATEST ARTICLES

Worst oil demand contraction ever recorded in the making

With billions of people worldwide under some form of lockdown, oil demand may fall as much as 20 million b/d at some stage this...

EITI to foster greater transparency in implementing states amidst COVID-19

Chair of the Extractive Industries Transparency Initiative (EITI) International Board Helen Clark said as the world reels from the COVID-19 pandemic, the Secretariat recognises...

Shell expects to book up to US$800 million in impairment charges as oil tumbles

Based on changes to its oil price outlook for 2020, Anglo-Dutch oil major Shell said on Tuesday its post-tax impairment charges for the first...

Refineries shuttering operations as COVID-19 hits demand

(S&P Global) Refineries in Europe and Africa have started shuttering operations as the coronavirus pandemic hits demand. South Africa's Engen refinery said late last week...

Oil drops more than 6% to 18-year low as global demand evaporates

(CNBC) U.S. oil dropped to an 18-year low on Monday as demand continues to evaporate, and as Saudi Arabia and other OPEC+ nations prepare...

State capacity deficits put Venezuela among top 5 countries most vulnerable to COVID-19

South American oil producer Venezuela is listed among the top 5 countries most vulnerable to the COVID-19 pandemic due to major deficiencies in the...

Chinese specialists arrive in Venezuela to combat coronavirus

On Monday morning a HAINAN Airlines flight from Beijing arrived in the Venezuelan capital, Caracas, to deliver aid and transport several medical specialists to help...

Global E&P CAPEX will reach 13-year low as COVID-19, price war persist – Rystad...

Global capital expenditure (CAPEX) for exploration and production firms (E&Ps) is expected to drop by up to $100 billion this year, about 17% versus...

Guyana can learn from the Venezuelan crisis

Venezuela provides a window to a dystopian future. The country’s neighbour to the east, Guyana, is developing its first offshore oil and gas finds...