Russia takes a leaf out the U.S. shale oil playbook
At least two state-owned banks, Sberbank and VEB, plan to lend oil firms some 400 billion roubles ($6 billion) at effectively almost zero interest rates to drill about 3,000...
Enel to launch hydrogen business as part of green drive
The group is targeting markets in the United States, Chile and Spain, the head of Global Power Generation Antonio Cammisecra told Reuters. In the United States a focus will...
Goldman Sachs expects oil rally to run out of steam soon
“The collapse in (refining) margins to unprecedented lows is reflective of both over-valued crude prices as well as a more moderate demand recovery, two pillars of our short-term bearish...
Saudi Arabia to end voluntary cuts on top of OPEC+ pact
OPEC, Russia and other producers agreed on Saturday to extend record output cuts of 9.7 million barrels per day (bpd) into July, curbing global supply by almost 10% amid...
Why bond investors are willing to bet on money-losing Pemex after oil price crash
Despite all the risks of holding the world’s largest fallen angel, the ignominious distinction for a company that loses its investment-grade rating, bondholders are betting on continued support from...
Australia reassures on China iron ore processing changes
On Wednesday, China said it would simplify customs inspection procedures for iron ore imports from June 1, with quality checks no longer mandatory.
But the move...
Global green energy growth to fall for first time in 20 years
The world is set to build fewer wind turbines, solar plants and other installations that produce renewable electricity this year as energy demand has been reduced across commercial and...
Coronavirus creates repair headache for oil and gas industry
Lockdowns to stop the spread of COVID-19, the flu-like infection caused by the virus, have snarled the supply of spare parts and have prevented maintenance workers from doing their...
OPEC+ cuts oil exports sharply so far in May
The Organization of the Petroleum Exporting Countries, Russia and other allies, a group known as OPEC+, are cutting supply by a record 9.7 million barrels per day from May...
Hess sees no production shut-ins on hedges, storage capacity
Stay-at-home orders designed to contain the coronavirus pandemic have forced businesses to shut down, cutting worldwide demand for oil and creating a supply glut.
U.S. crude...
