Covid-19 is threatening Australia's mining and petroleum services industry, potentially limiting the ability of the resources and energy sectors to quickly rebound by creating skills shortages and reducing the availability of key equipment and services.
News ID: 9268 Publish Date : 2020/04/29
China's two largest oil companies state-controlled PetroChina and Sinopec slumped to big losses in the first quarter as the impact of the Covid-19 outbreak hit their domestic refining operations.
News ID: 9265 Publish Date : 2020/04/29
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to fully offset the collapse in demand from the coronavirus pandemic.
News ID: 9259 Publish Date : 2020/04/27
South Korean refiner S-Oil said it has no plans to cut fuel output, even after posting the largest loss in its history amid an unprecedented collapse in oil product demand.
News ID: 9253 Publish Date : 2020/04/28
US benchmark Nymex WTI crude futures fell by 21pc to just above $10/bl in Asian trading, extending losses from the previous session after the US Oil Fund (USO) decided to exit the June WTI Nymex contract.
News ID: 9251 Publish Date : 2020/04/28
Oil prices should rise "closer to $40/bl" next year, assuming oil demand recovers from the Covid-19 pandemic and Opec and its partners stick to their output cut deal, trading firm Mercuria chief executive Marco Dunand told Argus.
News ID: 9250 Publish Date : 2020/04/28
Dubai-based biofuels producer Neutral Fuels is expanding its waste-based biodiesel operations beyond the UAE in the Middle East, Africa and Asia-Pacific.
News ID: 9249 Publish Date : 2020/04/28
Total losses from a structured crude oil product marketed to retail investors by the Bank of China could be more than ($1.27 billion), the Caixin financial news outlet reported on Sunday, citing official sources.
News ID: 9246 Publish Date : 2020/04/26
Saudi Aramco began reducing oil production earlier this week ahead of the May 1 start date for OPEC+ output cuts, according to a Saudi industry official familiar with the matter.
News ID: 9245 Publish Date : 2020/04/26
SK Innovation, South Korea's largest refiner, will likely need to further reduce the operating rate of its 840,000 b/d Ulsan complex because the impact of the Covid-19 pandemic on oil products exports will be felt more fully this summer.
News ID: 9240 Publish Date : 2020/04/27
Low-sulphur bunker prices at China's main ports have moved to a discount to prices in Singapore, drawing some business away from the southeast Asian bunkering hub.
News ID: 9238 Publish Date : 2020/04/27
China maintained strong crude imports from Russia and Saudi Arabia in March, but again took no US cargoes despite reducing import tariffs a month earlier.
News ID: 9234 Publish Date : 2020/04/27
The Buzzard field in the UK North Sea has resumed production following an unplanned shutdown last week.
News ID: 9233 Publish Date : 2020/04/27
A consortium of Total, Italy's Eni and Russia's Novatek has failed to find commercial oil and gas at its first well in Lebanon's offshore block 4, according to local sources.
News ID: 9232 Publish Date : 2020/04/27
Kuwait said it has started cutting oil output ahead of May 1, the date when suppliers worldwide plan to start slashing production to counter a devastating glut.
News ID: 9229 Publish Date : 2020/04/24
With just three days remaining to the expiry of a 30-day US waiver to import Iranian gas and electricity, Iraq will struggle to drum up some $10 billion in investments over a four-year period to stop these imports at a time when US patience with OPEC's second-largest oil producer is wearing thin.
News ID: 9228 Publish Date : 2020/04/25
Brazil is on the threshold of a fresh political crisis on top of an oil market collapse that has already set back the non-Opec country's pre-salt bonanza.
News ID: 9224 Publish Date : 2020/04/24
Exporting Urals grade crude by sea from Russia has become uneconomical for producers, at least on paper, after outright prices dropped sharply yesterday.
News ID: 9214 Publish Date : 2020/04/22
Ivory Coast bitumen producer SMB has cut production at its 520,000 t/yr (10,500 b/d) Abidjan refinery by a third in response to a dramatic fall in construction activity and bitumen import requirements across west Africa.
News ID: 9213 Publish Date : 2020/04/22
Some retail service station suppliers in Germany are reporting an increase in fuel demand from motorists this week, following the easing of restrictions brought in to combat the spread of Covid-19. A rise in inland road fuel prices also points to increased consumption.
News ID: 9212 Publish Date : 2020/04/22
