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 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.
Norwegian energy giant Equinor has suspended its share buyback programme due to the downturn in market conditions.
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.
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.
The boss of Taqa’s North Sea business has predicted a “challenging year” ahead as the Abu-Dhabi oil firm publishes its 2019 results.
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”.
To understand the crisis engulfing the world’s largest oil companies, just look at their dividend yields.
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 headed for its biggest weekly drop since 2008 as an unprecedented dual supply-demand shock showed no signs of abating.
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.
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.
Saudi Arabia and Russia’s price war is handing over a multi-billion dollar profit opportunity to the world’s largest oil traders.
The oil price freefall means projections for the UK’s North Sea revenues are already out of date before the Budget is even published, according to a leading analyst.
Petrol prices across the country could fall by up to 10p if the cost of oil continues to stay low, experts have said.
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.
Asian stock markets have fallen sharply reflecting a downturn in global 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.
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 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 tumbled on fears China’s deadly coronavirus will crimp demand, prompting Saudi Arabia to say it was closely monitoring the situation.
Analysts have warned uncertainty on the global oil price could continue for weeks amid the US-Iran conflict.
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 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.
It’s been a tough run for energy stocks.