Brazil's National Petroleum Agency (ANP) issued new rules and procedures on Monday for deactivating mature oil and natural gas fields that should result in about $5 billion in investments over the next five years as Latin America's biggest producer...
While trading at Brent futures does not necessarily provide insulation from the oil price volatility gripping the global industry at present, it puts producers in this class in a better position to rally as storage space for crude continues...
Mexican state oil company Pemex has declared force majeure over fuel imports from its trading arm PMI Comercio Internacional, two sources with knowledge of the decision told Reuters on Thursday, as demand craters due to fallout from the coronavirus...
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...
(MarketWatch) The Trump administration on Tuesday ordered Chevron Corp. to “wind down” operations in Venezuela by Dec. 1, barring the California-based oil giant in the meantime from drilling or exporting, as the U.S. increases pressure on President Nicolás Maduro...
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%...
Rating agency Moody’s has downgraded Mexico’s debt=laden state oil company Pemex to ‘junk’ which will trigger forced bond sales and increase future financing costs.
Pemex was downgraded two notches to Ba2 from Baa3, with a negative outlook. As a result,...
(Reuters) - Brazilian state-run oil firm Petrobras plans to restart operations in the coming days at two ships used in offshore oil production that suffered coronavirus outbreaks, an executive told journalists during a call on Friday.
Petrobras Exploration and Production...
Global currencies have depreciated against the US dollar, reeling from the impact of the COVID-19 outbreak and the oil price slump. As most operating expenses in oil and gas production are realized in local currencies, a Rystad Energy analysis...
