Big Oil emerged from first-quarter earnings battered and bruised, but things are only going to get uglier.
Major oil and gas producers from Norway to the US saw profit plunge in the opening three months of the year. Exxon Mobil Corp. reported its first loss in over 30 years, Royal Dutch Shell...
China has issued 28 million tons of refined fuel export quotas in the second allotment for this year, little changed from the first batch of 27.99 million tons issued last December, according to four sources with knowledge of the matter.
The quotas were released last week to five state oil...
Oil prices fell on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers.
Brent crude futures were down 29 cents, or 0.9%, at $30.68 a barrel, while US West Texas...
BP Plc has won Australian government backing for a feasibility study into producing hydrogen using wind and solar power to split water and converting the hydrogen to ammonia in Western Australia.
The Australian Renewable Energy Agency said on Friday it would provide $1.1 million toward the $3.8...
Consulting firm IHS Markit expects oil demand in the second quarter of 2020 to be 22 million barrels per day less than a year ago.
This collapse in demand combined with low oil prices, storage constraints and government ordered cuts are driving what is an extraordinary level of liquids...
Low US oil prices have prompted a significant downward revision of the US natural gas liquids (NGL) production over the next few years, which may increase liquefied petroleum gas (LPG) import prices for Asia, according to S&P Global Platts Analytics.
The drop in 2020 is expected to be about...
Oil prices gained on Friday as more countries began relaxing restrictions put in place to halt the coronavirus pandemic, raising hopes that demand for crude and its products will start to pick up.
Brent crude was up by 42 cents, or 1.4%, at $29.88 a barrel, having fallen nearly 1% on Thursday....
Gas, electricity and water networks in Tehran Province were spared by the earthquake that jolted the capital in the early hours on Friday.
The 5.1-magnitude quake struck the densely populated capital at 00:48 am and lasted several seconds.
According to Iran’s National Seismological Center, the...
Oil rose above $31 a barrel on Wednesday as hopes for a recovery in demand as some countries ease coronavirus lockdowns offset a report showing a higher-than-expected rise in US inventories.
Brent crude has almost doubled since hitting a 21-year low reached on April 22, supported by...
Brazil’s Petrobras set a new oil exports record of 1 million barrels per day in April, as domestic demand plunged, the state-controlled oil firm said on Monday, days after a large group of other oil producers, OPEC+, began a 9.7-million-bpd collective cut aimed at rebalancing the market.
Brazil...