Oil prices fell for the first time in four days on Wednesday, slipping from as much as five-month highs as mounting coronavirus cases worldwide and in the United States undercut market confidence about a potential pickup in fuel demand.
Brent crude was down 4 cents, or 0.1%, at $44.39 a barrel....
BP expects its oil and gas production to fall by at least 1 million bpd of oil equivalent or 40% over the next decade, as it transitions to a lower carbon energy company, the company said.
Under a new strategy announced August 4, BP said it will boost investment on low carbon projects such as...
Oil prices fell on Monday on oversupply concerns as OPEC and its allies wind back production cuts in August and a rise in worldwide Covid-19 cases points to a slower pick-up in fuel demand.
Brent crude futures slid 26 cents, or 0.6%, to $43.26 a barrel. US West Texas Intermediate crude futures...
From quiet skies over Europe to sparse traffic in America’s biggest cities, a recovery in global oil demand is faltering amid the resurgence in coronavirus.
That poses a particularly delicate challenge for OPEC and its partners, who next week plan to resume some of the crude output halted during...
Researchers at Sharif University of Technology (SUT) in Tehran have designed and manufactured a javel water making machine with an Iranian electrolyzer, Erfan Touraji, the project director, said.
“Imported electrolyzers used in all devices made in the country are not of high quality. The useful...
Iraq’s total oil exports for July averaged 2.763 million barrels per day, the oil ministry said in a statement.
The exports included 2.668 million bpd from its southern Basra oilfields, it said, adding that total exports generated $3.487 billion of revenue. The oil price per barrel averaged $40....
Chevron Corporation reported on Friday a net loss of $8.3 billion for the second quarter on the back of impairment charges due to lower commodity price outlook and write-off its Venezuela operations due to the US sanctions.
Chevron’s $8.3-billion net loss for Q2 compares with earnings of $4.3...
Millions of barrels of oil refinery capacity might permanently close across the global energy complex after being lost when demand crashed during the coronavirus pandemic, US refiners said on Friday.
Executives at Phillips 66 and PBF Energy, told investors some refining capacity currently...
The third wastewater treatment plant in Lordegan, western Chaharmahal- Bakhtiari Province, was inaugurated, provincial head of the Water and Wastewater Company said.
“The facility treats 6,000 cubic meters of effluent a day and cost $4 million,” IRNA quoted Ahmadreza Mohammadi Dahcheshmeh as...
Oil prices rose on Friday, after touching three-week lows in the previous session, responding to a record decline in US growth as the coronavirus ravaged the world’s biggest economy and oil consumer.
Brent crude was up by 41 cents, or 1%, at $43.35 a barrel. On Thursday, Brent closed down 1.9%...