The drop in oil demand by refiners at local level and the exports limited to a minimum at global level due to the coronavirus pandemic, pushed storage capacity to the limit in the producing provinces
The British giant said it slumped into a u$s4.4-billion net loss in the first quarter as the coronavirus pandemic crushed demand for oil. "Our industry has been hit by supply and demand shocks on a scale never seen before," BP's CEO stated
The U.S. Department of the Treasury has eased restrictions allowing American companies to operate in Venezuela’s oil market, although under strict oversight and reporting conditions
The British giant posted a $3.4 billion loss in the fourth quarter, compared with a $1.2 billion profit in the previous quarter. The loss included $4.3 billion in adjustments, mainly related to impairments in its gas and low-carbon energy businesses
The Organization of the Petroleum Exporting Countries (OPEC) pumped 28.34 million barrels per day in January, 60,000 bpd less than in December, according to the survey, with Nigeria posting the largest decline
The company reported that its pre-tax income in 2025 decreased by 0.5% to $29.756 billion, while revenue from the sale of property and equipment totaled $1.148 billion, representing a 29.1% year-over-year decline
The OPEC+ oil alliance, led by Saudi Arabia and Russia, produced an average of 42.83 million barrels per day (bpd) of crude in December, cutting output by 238,000 bpd, or 0.5%, from November levels
Oil prices are likely to fall this year as a wave of supply creates a surplus in the market, although geopolitical risks linked to Russia, Venezuela and Iran will continue to fuel volatility, Goldman Sachs said
U.S. oil producer Continental Resources has signed an agreement with Pan American Energy (PAE) to develop four areas in the Vaca Muerta region jointly
