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 Chilean state oil company ENAP (Empresa Nacional de Petróleo) will invest approximately $90 million over the next five years to increase crude oil production in Ecuador from Block 46 Mauro Dávalos Cordero (MDC)
The Bolivian state oil company YPFB will invest around 400 million dollars to drill gas wells and build facilities in a recently discovered "mega" natural gas field, the company reported
Saudi state oil giant Aramco made its return to the debt market after a three-year hiatus, joining top companies and governments in the Gulf that have tapped markets this year to fund investments
Global demand increased by 710,000 bpd in the second quarter, the smallest quarterly increase in more than a year, according to the IEA's monthly oil report
Golar LNG, based in Hamilton, Bermuda, said it partnered with Pan American Energy to deploy a floating liquefied natural gas (FLNG) vessel for 20 years to export from Argentina
In June, activity in the formation was once again led by YPF, with a total of 886 fractures. They were followed by Argentina's Vista with 226 fractures and the U.S. company Chevron with 208 fractures
