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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...