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 OPEC pumped 26.51 million barrels per day (bpd) last month, up 180,000 bpd from October, the survey showed, with Libya again posting the largest increase
The sale includes Repsol’s 45% stake in onshore Block CPO-9 (Akacias) in the Llanos Norte play, which is operated by Colombia’s state-run Ecopetrol (55%), and Repsol’s nonoperated interest in the promising Cosecha Block
President-elect Donald Trump's plan to impose a 25% tariff on Canadian and Mexican imports on his first day in office does not exempt oil from the trade sanctions
The oil company Pan American Energy (PAE) has requested that its multi-million-dollar project to export liquefied natural gas (LNG), developed in partnership with the multinational Golar LNG, be included in the recently launched Incentive Regime for Large Investments (RIGI)
In a statement, the U.S. Environmental Protection Agency explained that this directive encourages companies to take immediate actions to reduce methane emissions
Global oil supply will exceed demand in 2025 even if OPEC+ cuts remain in place, the International Energy Agency (IEA) said, as rising production from the US and other producers outpaces sluggish demand
Argentina inaugurated the reversal of the Gasoducto Norte pipeline, which will now supply northern and central Argentina as well as allow exports to Brazil from Vaca Muerta
Argentina's state oil firm YPF, opens new tab expects to increase shale oil production by 30% to 40% next year, the company's CEO Horacio Marin said
