While the sale of crude from the Liza Field in Guyana and in neighbouring Trinidad and Tobago (T&T) has not shared the same fate as US oil, former Energy Minister of Trinidad and Tobago, Kevin Ramnarine, says the Caribbean...
Oil tankers carrying enough crude to satisfy 20 per cent of the world’s daily consumption are gathered off California’s coast with nowhere to go as fuel demand collapses, Bloomberg said in a report on Tuesday.
Almost three dozen ships —...
As the global population puts the breaks on ground transportation thanks to lockdowns, road fuels – which make up about half of the world’s oil demand – has become the segment most impacted by the COVID-19 pandemic. Among road...
(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...
After three consecutive months of Covid-19 demand destruction and gravity-defying oil prices, operators are finally being forced to shut-in considerable production volumes. Globally, at least 1.9 million barrels per day (bpd) of oil production have been booted offline in...
(BBC) The price of US oil has fallen to a level not seen since 1999, as demand dries up and storage runs out.
The price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, dropped 19.3%...
Guyana is listed among just a handful of countries in the world where oil production is expected to grow this year despite the decline in prices and challenging market conditions being fueled by the COVID-19 pandemic.
Non-OPEC liquids production growth...
(Reuters) - Brazil’s state-owned oil firm Petroleo Brasileiro SA said on Wednesday it had begun suspending operations of 62 shallow water platforms in the Campos, Sergipe, Potiguar and Ceara basins.
Petrobras, as the company is known, had previously announced the...
The United States Energy Secretary Dan Brouillette has noted that if oil producing countries did not agree to cuts in an attempt to rebalance a low price market and to counter the heavy impact of COVID-19, there may not...
