Plunge of oil demand limits storage capacity

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

BP announces quarterly loss as oil prices crash

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 two trillion dollars of investment in clean energy this year will almost double the amount allocated to fossil fuels, which are also growing but at a slower rate, according to the International Energy Agency (IEA)

YPF-CGC complete first drilling in Palermo Aike

The oil companies YPF and Compañía General de Combustibles (CGC) have completed the drilling of the first exploratory well in Palermo Aike, the second-largest unconventional hydrocarbon reserve in the country

ConocoPhillips to buy Marathon Oil

ConocoPhillips, considered one of the largest oil companies in the United States, has agreed to acquire its smaller rival Marathon Oil for $17.1 billion in stock plus an additional $5.4 billion in debt