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

IEA says new cuts unlikely to balance oil market

International Energy Agency (IEA) Executive Director Fatih Birol said that recently announced oil output cuts by major Gulf Arab producers would likely not be enough to balance global markets as coronavirus lockdowns hollow out demand

YPF designates Sergio Affronti as CEO

YPF's Board of Directors appointed Sergio Affronti as its new CEO, a businessman from the province of Mendoza that counts with a 27-yr career in the national and global industry of hydrocarbons