South Sudan Welcomes Russian Firms To Its Oil, Gas Sector
South Sudan believes that Russian companies can help it to develop its oil, natural gas, and refining industries, the foreign minister of the small African oil producer has told Sputnik.…
U.S. Rig Count Drops As Oil Price Slide Accelerates
After another week of faltering oil prices as the coronavirus outbreak continues to spook the market, Baker Hughes reported that the number of oil and gas rigs in the US…
Oil Prices See Biggest January Loss In 30 Years
Crude oil prices slid a painful 15% in January—the biggest January slide since 1991—as the coronavirus claims the death of 213 souls and counting. After a couple weeks of continued…
Eni’s Libyan JV Loses 155,000 Bpd because Of Continued Blockade
Eni’s joint venture with the Libyan National Oil Corporation is losing 155,000 barrels of oil per day of production because of the continued blockade of oil export terminals and fields,…
Exxon’s Earnings Slump On Poor Petrochemical, Refining Results
ExxonMobil (NYSE: XOM) reported on Friday fourth-quarter earnings down from a year earlier, as lower natural gas prices and weak chemical and refining margins were not enough to offset cash…
U.S. Unexpectedly Lifts Iran-Related Sanctions On Chinese Tanker Company
The United States will remove the sanctions it imposed on Chinese tanker operator Cosco for violating the Iran oil sanctions, Reuters reports, citing sources in the know. One of the…
Why 2020 Could Be A Record Year For Oil Trading Giants
Retail investors with long positions in crude oil markets had little to cheer about in 2019 as the market failed to maintain the early-year rally as pipeline outages, geopolitical tensions…
Coronavirus Halts Flow Of Latin American Oil To China
The flow of oil traveling from Latin America to China has stopped in the wake of the deadly outbreak of the coronavirus that has sunk oil prices to three-month lows,…
US-China Oil Deal Dictated By A Market That Hates It
The ‘big beautiful monster’ Phase One trade deal between the United States and China may end up being truly beautiful for U.S. exports on paper only—at least as far as…
Shell’s Slide Is A Major Red Flag For Oil Markets
Royal Dutch Shell reported a steep drop in earnings in the fourth quarter, and the financial squeeze may slow the pace of share buybacks and force more asset sales. Shell’s…