KCA Deutag says ability to operate ‘very complex’ amid price slump
Drilling contractor KCA Deutag said its ability to operate had become “very complex” due to the recent crude price slump and Covid-19 outbreak.
oil price
Oil finds firmer ground after Federal Reserve unleashes support measures
Oil rallied for a second day after the Federal Reserve unveiled a sweeping set of measures to support the world’s largest economy, while investors clung to hopes of a U.S.-Saudi Arabian deal to limit output.
Equinor, Total announce measures to combat price crash
Norwegian energy giant Equinor has suspended its share buyback programme due to the downturn in market conditions.
Oil drifts lower as hopes for Opec-Texas production truce fade
Oil dropped toward the lowest level since 2003 as prospects for a deal between OPEC and Texas to limit production appeared to fade, while a U.S. coronavirus rescue package ran into political delays.
Putin won’t cave in to Saudi oil-price blackmail
Russian President Vladimir Putin will refuse to submit to what the Kremlin sees as oil blackmail from Saudi Arabia, signalling the price war that’s roiling global energy markets will continue.
Taqa’s North Sea boss predicts ‘challenging year ahead’
The boss of Taqa’s North Sea business has predicted a “challenging year” ahead as the Abu-Dhabi oil firm publishes its 2019 results.
RMT calls for action as oil price plummet puts ‘tens of thousands’ of North Sea jobs at risk
A union has warned that “tens of thousands” of offshore jobs could be at risk as North Sea firms buckle under the pressure of the ongoing oil price “crisis”.
Big Oil’s big crisis: Saving sacred dividends from collapse
To understand the crisis engulfing the world’s largest oil companies, just look at their dividend yields.
Oil price drops to lowest since 2016 as global demand collapses
Oil’s spectacular collapse deepened as widening global efforts to fight the spread of the coronavirus looked set to trigger the most severe contraction in annual demand in history.
Oil takes worst weekly tumble Since 2008
Oil headed for its biggest weekly drop since 2008 as an unprecedented dual supply-demand shock showed no signs of abating.
Oil continues slide after Trump limits travel from Europe to US
Oil resumed declines after President Donald Trump said the U.S. would restrict travel from Europe for the next 30 days to try and contain the coronavirus, pummeling fuel demand even further.
OGUK to chop up flagship industry report due to coronavirus disruption
Oil and Gas UK (OGUK) has decided to chop up one of its flagship industry reports and cancelled key events in response to the coronavirus outbreak.
Oil traders are ‘big winners’ from Saudi-Russia price war
Saudi Arabia and Russia’s price war is handing over a multi-billion dollar profit opportunity to the world’s largest oil traders.
Budget forecasts on North Sea revenues will be ‘wrong’ due to oil price freefall
The oil price freefall means projections for the UK’s North Sea revenues are already out of date before the Budget is even published, according to a leading analyst.
Experts predict joy for motorists as oil prices collapse
Petrol prices across the country could fall by up to 10p if the cost of oil continues to stay low, experts have said.
Global recession ‘almost inevitable’ as oil price plummets, deVere boss warns
A global recession is now almost inevitable this year, warns the chief executive of one of the world’s largest independent financial advisory and services organisations.
Fall in oil price as Asian stocks tumble
Asian stock markets have fallen sharply reflecting a downturn in global oil prices.
Nigeria plans budget review after Covid-19 hits oil prices
Nigeria may have to adjust its budget this year after fears of coronavirus pandemic dragged the price of crude under the target set in its 2020 spending plan.
Goldman Sachs sees Coronavirus as largest commodity demand shock since 2008
The world is facing the biggest commodity demand shock since the global financial crisis as the coronavirus outbreak that’s already rocked Asia spreads to the U.S. and Europe, according to Goldman Sachs Group Inc.
Oil extends losses amid continuing coronavirus fears
Oil extended losses after closing at a 13-month low as more new coronavirus cases were reported outside China than within, adding to fears the world is on the brink of a pandemic that will take a hefty toll on growth.
Oil tumbles on Coronavirus fear while Saudis see ‘very limited’ impact
Oil tumbled on fears China’s deadly coronavirus will crimp demand, prompting Saudi Arabia to say it was closely monitoring the situation.
Oil price uncertainty could continue for ‘weeks’ amid US-Iran conflict
Analysts have warned uncertainty on the global oil price could continue for weeks amid the US-Iran conflict.
‘Elevation’ for oil prices as Iran threatens retaliation for US attacks, Kemp says
Oil prices are likely to remain “elevated” after a US airstrike heightened the prospect of supply disruption from the Middle East, a prominent Aberdeen petro-economist said today.
Oil trades near three-month high amid signs of shrinking supplies
Oil held gains near the highest level in more than three months on indications of shrinking U.S. crude stockpiles and optimism in the global economic outlook.
The lost decade: energy stocks seek relevancy as investors flee
It’s been a tough run for energy stocks.