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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.
Thousands Sign Up to BSEE Safe Text Service
Wednesday, February 26, 2020 The U.S. Bureau of Safety and Environmental Enforcement has revealed that its BSEE!Safe text notification service now has over 5,300 subscribers.
Production Suspended at Cliff Head
Wednesday, February 26, 2020 Triangle Energy has confirmed that production at the Cliff Head Alpha Platform has been suspended as a result of an electrical fault.
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.
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.
Equinor Ditches Great Australian Bight Drill Plan
Tuesday, February 25, 2020 Equinor has informed the Australian authorities that it will discontinue its exploration drilling plan (Stromlo-1) in the Ceduna sub-basin offshore South Australia.
Aberdeen Gets New Drilling Well Control Center
Tuesday, February 25, 2020 Survivex is launching a new drilling well control center of excellence in Aberdeen.
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.
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.
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.
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.
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...
Buyer Cancels LNG Cargoes From Cheniere
Friday, February 21, 2020 Cancellations of US cargoes were closely watched and highly anticipated amid a grim outlook on global prices.
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.
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.
Chevron Teams Up on Carbon Capture Investment
Wednesday, February 19, 2020 The investment will be used to deliver a pipeline of global projects to lower emissions from the oil and gas industry.
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.
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.
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.
Ransomware Shuts Gas Compressor
Wednesday, February 19, 2020 A recent ransomware attack caused a U.S. natural gas compressor facility to shut for two days.
Corona Virus Hits Oil Demand and Prices
Tuesday, February 18, 2020 Analysts around the world are slashing demand forecasts for 2020.
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.
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.
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.
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.
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.
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.
All Eyes on McDermott
Thursday, February 13, 2020 Here are Rigzone's top stories during the last week, just in case you missed them...
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.
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.
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.
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.
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.
Baton Rouge Refinery Outage Could Ease Gasoline Glut
Wednesday, February 12, 2020 A fire broke out overnight at Exxon Mobil Corp.'s Baton Rouge oil refinery in Louisiana, halting production at the fifth-biggest fuel-making plant in the U.S.
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.
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.
Coronavirus Oil Demand Destruction is Unprecedented
Monday, February 10, 2020 The default implication is that there will be lower economic activity in China and therefore much lower crude consumption.
Oil Down as Expectations of Urgent OPEC Meeting Fade
Monday, February 10, 2020 Oil hovered around $50 a barrel in New York on signs a much-touted emergency meeting of OPEC+ ministers probably won't happen after all.
OGA Launches Mediation Pilot for License Disputes
Monday, February 10, 2020 The UK's Oil and Gas Authority has launched a year-long UK Continental Shelf mediation pilot.
Shipping Gets Smashed by Coronavirus
Monday, February 10, 2020 The shipping industry tends to do badly when Chinese demand disappoints, but the outbreak of the coronavirus has done more than just damage the amount of cargo that needs to be transported.
Oil Pares Fifth Weekly Loss on OPEC+ Plan
Friday, February 07, 2020 Oil pared its fifth straight weekly loss on optimism that OPEC+ will deepen output cuts.
China LNG Force Majeure Rejected
Friday, February 07, 2020 Two of Europe's biggest energy companies rejected a Chinese force majeure on liquefied natural gas contracts in the latest twist to a drama that's gripping global commodities markets.
UK Adds Hybrids to Planned Vehicle Sale Ban
Thursday, February 06, 2020 The U.K. Government plans to move up its ban on new ICE vehicle sales.
Oil Up on OPEC+ Optimism and China Tariff Cut
Thursday, February 06, 2020 Oil surged for a second day on optimism OPEC+ will agree on deeper cuts in response to virus-led demand destruction, and as China signaled it will cut tariffs on imports from the U.S. later this month.
Fitch Solutions Slashes Oil Price Forecast
Thursday, February 06, 2020 Fitch Solutions Macro Research has revised down its Brent oil price forecast for 2020.
Oil Up With OPEC+ Split on Cuts
Wednesday, February 05, 2020 Oil increased from a one-year low even as Saudi Arabia ran into Russian resistance in its push for further production cuts to combat a virus-driven demand decline.
New BP CEO Contends with Protests on First Day
Wednesday, February 05, 2020 Bernard Looney, who succeeded Bob Dudley as BP's group chief executive on February 5, contended with protests at the company,s headquarters on his first day in the new role.
Oil Up Before OPEC+ Meeting to Assess Demand
Tuesday, February 04, 2020 Oil climbed before OPEC and its allies gather Tuesday for an urgent meeting to assess the impact of the coronavirus on global demand.
China Oil Demand Said to Have Plunged 20 Percent
Monday, February 03, 2020 Chinese oil demand has dropped by about three million barrels a day as the coronavirus squeezes the economy, according to people with inside knowledge of the country's energy industry.
North Sea Field Shutdown Dubbed Small Setback
Monday, February 03, 2020 The temporary production halt from the Bruce, Keith and Rhum fields has been described by a Serica Energy spokesperson as a 'relatively small, short-term setback'.