Rice

Oil & Gas Trade

Oil’s Demand Plunge Doing More Damage than The Price War

Imagine U.S. President Donald Trump makes a deal with Saudi Arabia and Russia to cut oil production. Envisage Washington, Moscow and Riyadh going big, each cut…

Oil & Gas Trade

Energean Secures Gas Prices for 70% of Output

Israeli gas-focused company Energean said Tuesday it’s well-placed to weather the challenges currently posed to the industry.

Oil Price

Oil Prices Can Go as Low as $20 Per Barrel, Level Not Sustainable for Any Country

Starting in April, major oil producers are planning a big increase in production.

Crude Oil

US to Top Up Strategic Oil Reserve With 77 Mln Barrels

The Trump administration cancelled plans to sell off a portion of the country's emergency oil reserves earlier this month as OPEC+'s failure to reach an agreeme…

Oil Price

The Price War Could Kill The UK's Oil Industry

The UK’s oil and gas industry has called on the government to help the sector as it faces three separate challenges, that could see production plummet.

Oil Price

US Seeks $3 Billion to Boost Oil Producers as Prices Plunge

The Trump administration said Thursday that it is seeking $3 billion from Congress to top up the country’s strategic petroleum reserves, potentially propping u…

Oil Price

Oil Price Won’t Impact Renewable Strategies Says IRENA Director-General

The turmoil in the oil market is unlikely to have a major impact on renewable energy plans and investment.

Oil & Gas Trade

PetroVietnam Says Considers Stockpiling Oil Amid Low Prices

Vietnam Oil and Gas Group, known as PetroVietnam, said on Wednesday it was considering stockpiling crude oil amid low prices while exploring measures to cope wi…

Oil Price

Russia Sees Oil & Gas Income Fall By Almost $40 Billion

Russia’s revenues from oil and gas will be US$39.5 billion (3 trillion rubles) lower than planned, due to the tumbling oil prices, Russian Finance Minister Ant…

Shale Gas

Few U.S. Shale Firms can Withstand Prolonged Oil Price War

For the last five years, U.S. shale oil producers have been battling suppliers for lower costs and running equipment and crews hard to drive drilling costs down…

Oil Price

Exxon To Slash Spending As Oil Price Collapse Continues

Exxon has become the latest U.S. oil company to announce plans for spending cuts amid the coronavirus outbreak that caused a price slide significantly aggravate…

Market Analysis

Is The Oil Price Crash Good For Renewable Energy?

With Saudi Arabia and Russia pumping flooding the market with oil as coronavirus threatens demand, oil prices have crashed below the $30 mark. It is a price cra…

Crude

U.S. Could start Buying Crude for Strategic Petroleum Reserve in two Weeks

The United States could begin purchasing U.S. produced crude oil for the Strategic Petroleum Reserve as soon as two weeks from now, and fill it in several month…

Oil & Gas Trade

China's Major Oilfields Maintain Pace Amid Oil Crash

Crude oil prices dropped below break-even operating expenses for Chinese oil companies, but major oil fields have maintained stable production. Faced with press…

Oil & Gas Trade

Venezuela Looks To Play Mediator Between OPEC And Russia

Venezuela is in discussions with OPEC and Russia about the current oil price collapse, Nicolas Maduro said on Thursday at a press conference shown on Twitter, a…