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 Argentine government is seeking to tender the expansion of the 'Perito Francisco Pascasio Moreno' gas pipeline "as soon as possible" to transport an additional 14 million cubic meters of natural gas per day from Vaca Muerta to Buenos Aires Province
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
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
