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The COVID-19 pandemic and the current low-oil-price environment have pushed global exploration and production operators to cut costs, scrapping all but the most vital of their investment plans. The supply industry that will suffer the most as a result...

The collapse in global crude prices, led by the US, is a “body blow” for the North Sea industry, and government help will be needed to protect the sector, industry group Oil & Gas UK’s chief executive Deirdre Michie...

The OPEC+ ‘deal of the century’ last weekend changes oil market dynamics in the short run. The 10 million b/d production cut from May is huge, amounting to 10% of global supply, and it’s needed says Simon Flowers, Chairman,...

(Reuters) - Guyana has attracted interest from several oil trading companies for a contract to serve as the marketing agent for the government’s share of the country’s crude, despite a plunge in global prices, four people familiar with the...

Halliburton Company announced on Monday that it made a net loss of $1.0 billion, or $1.16 per diluted share, for the first quarter of 2020. According to the company, this compares poorly to net income for the first quarter...

Tullow Oil plc on Tuesday announced the appointment of Rahul Dhir as Chief Executive Officer and an Executive Director of the Group. Dhir will take up his appointment from July 1, 2020 and Dorothy Thompson, currently Executive Chair of...

(Bloomberg) The world’s biggest independent oil storage company said that space for traders to store crude and refined fuels has all but run out as a result of the fast-expanding glut that’s been caused by Covid-19. “The available capacity on...

West Texas Intermediate crude turned negative today, reaching the lowest on record with its seventh consecutive decline and the biggest fall on record. Chevron and Exxon led losses in the blue-chip index as West Texas oil futures expiring Tuesday...

For perspective, it is not oil price Armageddon. West Texas Intermediate (WTI) May-dated futures contracts, which expire on Tuesday, require futures buyers to take delivery of the oil that is in Cushing, Oklahoma, the largest crude oil storage hub...

U.S. oil prices plummeted in historic fashion Monday, hitting their lowest level on record as traders unloaded positions ahead of the May contract's Tuesday expiration, Yahoo Finance said in a report on Monday. West Texas Intermediate crude oil futures for...