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

Flavia Royón confirmed as Secretary of Energy

Royón will be accompanied by "Santiago Yanotti as Undersecretary of Electric Energy, Federico Bernal as Undersecretary of Hydrocarbons and Cecilia Garibotti as Undersecretary of Planning," the new Minister of Economy, Sergio Massa, said

Oil output in Permian to rise in August to highest on record

Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 78,000 barrels per day (bpd) to a record 5.445 million bpd in August, the U.S. Energy Information Administration (EIA) said in its productivity report

OPEC sees slower 2023 oil demand growth

OPEC expects international oil demand to rise in 2023 however at a slower tempo than 2022, the producer group said in its first forecast for subsequent 12 months, citing nonetheless strong financial progress and progress in containing COVID-19 in China