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Aramco Signs Deals Worth Over $21B
Wednesday, February 26, 2020 Saudi Aramco has signed 66 Memoranda of Understanding and strategic and commercial collaborations worth more than $21 billion.
Shell Plans Major Drilling in Mexico
Wednesday, February 26, 2020 Royal Dutch Shell is pushing ahead on its massive deepwater drilling plan in Mexico.
Oil Extends Drop After Plunging on US Virus Warning
Wednesday, February 26, 2020 Oil extended losses below $50 a barrel after plummeting more than six percent over the previous two sessions on fears the fast-spreading coronavirus will take a major toll on global economic growth.
Chemical Industry Metric Suggests Gains for US Economy
Wednesday, February 26, 2020 The American Chemistry Council reported Tuesday that one of its economic indicators suggests a growth trend for the broader US economy for much of this year.
No OPEC Oil Cut Decision Yet Says Saudi Minister
Tuesday, February 25, 2020 OPEC hasn't made a decision yet on whether to extend or modify its agreement to cut oil output.
Oil Edges Up with Virus Fallout Still Unknown
Tuesday, February 25, 2020 Oil recovered some of its losses following the biggest drop in almost seven weeks as investors attempted to gauge the economic impact of the fast-spreading coronavirus and the potential response from producers.
Oil Slumps as Global Virus Spread Quickens
Monday, February 24, 2020 Oil slumped the most since Feb. 3 as a risk-off mood blanketed Asian markets after the global spread of the coronavirus quickened over the weekend.
Aramco Gets Jafurah Approval
Monday, February 24, 2020 Saudi Aramco has announced regulatory approval of the development of the Jafurah unconventional gas field in the Eastern Province.
Teck Pulls Oil-Sands Mine Project
Monday, February 24, 2020 Teck Resources is pulling its application for a controversial new oil-sands mine in Alberta.
Coronavirus Ripple Effect Hits Oil Exporters Large and Small
Monday, February 24, 2020 EIU forecasts that China's slower GDP growth will have an outsized impact on oil prices in 2020.
Why is an E&P Recovery Slow to Materialize?
Monday, February 24, 2020 With difficult shale economics and depressed pricing seeming to be the new normal, E&P asset valuations have cratered.
Oil Demand Growth Set for Strong 2021
Friday, February 21, 2020 Here are Rigzone's top stories during the last week, just in case you missed them...
Crew Kidnapped from Oil Tanker
Friday, February 21, 2020 Reporting indicates that the Alpine Penelope crude oil tanker has been attacked while in transit towards Lagos.
Vitol Sees Oil Recovery This Year
Friday, February 21, 2020 The oil market is poised for a recovery but will have to first tackle a severe virus-induced demand slump.
Oil Rally Sputters on Renewed Virus Concern
Friday, February 21, 2020 Oil pared a second weekly gain on renewed concern about the impact of the coronavirus.
Repsol Profit Misses Estimates
Thursday, February 20, 2020 Repsol SA reported fourth-quarter earnings that missed estimates as a weaker refining and chemicals business and a drop in crude prices had a larger impact than expected.
Wintershall Noordzee Brings Sillimanite Online
Thursday, February 20, 2020 Wintershall Noordzee has successfully started gas production from its operated Sillimanite field.
OTC Partners with UAHT for Sixth Year
Thursday, February 20, 2020 The Offshore Technology Conference revealed Wednesday that it will continue its partnership with United Against Human Trafficking.
Fracking Ban Would Cost Millions of Jobs
Thursday, February 20, 2020 A fracking ban would cost millions of jobs, according to the American Petroleum Institute.
Oil Shrugs Off Virus to Eye $60
Thursday, February 20, 2020 Oil extended gains to an eighth day on optimism that China will be able to soften the demand hit from the coronavirus.
Texas Oil Production Expected to Rise Monthly in 2020
Thursday, February 20, 2020 However, the pace of the growth is set to decelerate naturally over the next few months, according to a Rystad Energy analysis.
Oil Demand Growth to Quintuple Next Year
Wednesday, February 19, 2020 Global oil demand growth will drop to 0.44 million barrels per day this year but rebound to 2.34 MMbpd in 2021.
OGUK Responds to Coronavirus
Wednesday, February 19, 2020 Industry body Oil & Gas UK has issued a comment on the coronavirus, following concerns regarding the new virus in the UK.
Supply Risks Push Crude Back Toward $60
Wednesday, February 19, 2020 Oil jumped back above $58 a barrel and was set for the longest run of gains in more than a year.
Russia Faces $50B Payout
Tuesday, February 18, 2020 Russia may have to pay a record $50 billion arbitration ruling after a Dutch court ruled in favor of the former owners of Yukos Oil Co.
North Sea Downtime Cut by 19 Percent
Tuesday, February 18, 2020 North Sea oilfield operators have reduced the frequency of downtime by 19.2 per cent in the year to September 2019, according to the Glacier Production Index.
Petrofac Bags $1.6B Contracts for Mega Project
Tuesday, February 18, 2020 Petrofac Emirates has been awarded two contracts by Abu Dhabi National Oil Company worth a total of around $1.65 billion.
Oil Snaps Rally as Investors Assess Virus Measures
Tuesday, February 18, 2020 Oil snapped the longest run of daily gains this year as investors assessed the demand hit from the coronavirus and stimulus measures being rolled out to cushion its economic impact.
Corona Virus Hits Oil Demand and Prices
Tuesday, February 18, 2020 Analysts around the world are slashing demand forecasts for 2020.
Short-Sellers Give Oil a Break
Monday, February 17, 2020 Short-sellers are giving oil a reprieve after the global coronavirus scare led them to double bearish wagers in just two weeks.
Most Valuable Soft Skills for Oil Pros in 2020
Monday, February 17, 2020 Rigzone takes a look at the most valuable soft skills for oil pros in 2020.
Fading Hope for Emergency OPEC Meeting Caps Oil Rally
Monday, February 17, 2020 Oil was steady after the biggest weekly gain since September as hopes for an OPEC+ emergency meeting on the virus faded.
Asian Traders Get Surprise from Chinese Teapots
Friday, February 14, 2020 A sudden oil buying spree by China's independent "teapot" refiners has taken Asian traders by surprise.
Coronavirus Could Test Oil Players' Risk and Compliance Plans
Friday, February 14, 2020 The global coronavirus outbreak could put heightened risk management and compliance plans to the test.
CNOOC Brings Bozhong Online
Thursday, February 13, 2020 CNOOC Limited has announced that the offshore Bozhong 34-9 oilfield has commenced production.
IEA Sees First Global Oil Demand Drop in a Decade
Thursday, February 13, 2020 Global oil demand will drop this quarter for the first time in over a decade as the coronavirus batters China's economy, the International Energy Agency said.
All Eyes on McDermott
Thursday, February 13, 2020 Here are Rigzone's top stories during the last week, just in case you missed them...
Oil Rally Stumbles After Jump in Virus Cases
Thursday, February 13, 2020 A nascent rebound in oil prices ran into turbulence after China's Hubei province reported almost 15,000 new coronavirus cases as it changed its method for counting infections.
EIA Cuts 2020 Oil Price Forecast
Thursday, February 13, 2020 The U.S. Energy Information Administration has cut its Brent oil price forecast for 2020.
India's Upside for Oil Demand Seems Unlimited
Thursday, February 13, 2020 The proven global reality that demand mounts as human development progresses makes India's oil usage unidirectional: up.
Kosmos’ Ghana Performance Boosts 1P Reserves
Thursday, February 13, 2020 It marks the seventh consecutive year of greater than 100 percent of production replacement for Kosmos.
NPD Gets Back Most of Swindled Funds
Wednesday, February 12, 2020 The Norwegian Petroleum Directorate has revealed that $1.84 million of the $1.90 million it was frauded out of last year has been returned.
New BP CEO Sets Out Plan
Wednesday, February 12, 2020 BP pledged to achieve net-zero carbon emissions from its oil and gas operations and production by 2050.
TechnipFMC Expects $2.4B Impairment Charge
Wednesday, February 12, 2020 TechnipFMC has revealed that it expects approximately $2.4 billion of non-cash asset impairment charges to impact its results in the fourth quarter.
Rystad Slashes Oil Demand Growth Forecast
Wednesday, February 12, 2020 Rystad Energy slashes its global oil demand growth forecast for 2020 by 25 percent after assessing the impact of the coronavirus.
Oil Rallies While Russia Ponders OPEC+ Plan
Wednesday, February 12, 2020 Oil rallied back above $50 a barrel as investors waited to see whether Russia would accept an OPEC+ plan for production cuts to cope with demand destruction from the coronavirus.
Exxon Cracking Down on Employee Travel
Tuesday, February 11, 2020 Exxon Mobil Corp. has been scrutinizing employee-travel budgets since the largest North American oil explorer posted its worst quarterly profit in almost four years, said people with knowledge of the matter.
Oil Bounces Back from One-Year Low
Tuesday, February 11, 2020 Oil bounced back from a one-year low in New York but the emergence of a glut since the coronavirus outbreak loomed over the market.
What Happens to McDermott Stock?
Tuesday, February 11, 2020 This is what will happen to McDermott stock after the company filed for Chapter 11.
Trading Giants Seek Oil Storage at Sea as Virus Creates Glut
Monday, February 10, 2020 The industry is dealing with an oil glut that's emerged since the outbreak of the coronavirus in China.