Working from home has become the norm, and if the trend continues even after the pandemic abates, it could pose a big risk for oil, analysts are warning.
“The biggest threat to oil demand is the rise of remote …
BOSTON/NEW YORK (Reuters) – National Oilwell Varco Inc (NOV) has had a rough few years: Since 2017, the Houston company, whose drilling equipment is in major oilfields worldwide, has lost two-thirds of its value, costing shareholders a combined $9 …
OSLO – Oil services firm Subsea 7 announced on Thursday that it will cut its global workforce by a quarter and reduce its fleet of specialized vessels by up to a third to preserve cash following the slump in …
WASHINGTON/FRANKFURT/MOSCOW – Two U.S. senators are considering drafting further sanctions on Russia’s Nord Stream 2 natural gas pipeline if Moscow goes ahead and finishes laying pipes, in another blow to a project which has already faced delays.
U.S. sanctions …
LONDON/MOSCOW/DUBAI – Saudi Arabia and some other OPEC oil producers are considering extending record high output cuts until the end of 2020 but have yet to win support from Russia, according to OPEC+ and Russian industry sources.
The Organization …
LONDON – Oil futures steadied on Thursday as the market awaited confirmation of industry data that showed a surprise increase in U.S. crude stocks, which offset hopes for a demand recovery as coronavirus lockdowns ease.
After tumbling on Wednesday, …
A vast offshore wind project planned for waters off the coast of Virginia Beach looks set to use Siemens Gamesa Renewable Energy’s latest wind turbines, it was announced Tuesday.
The European company said that the 2.64 gigawatt (GW) Dominion …
Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 6 min summary of the energy markets.
Oil down - Equities Up - Dow Up
International News Desk: -Coronavirus
MARACAY, Venezuela/DUBAI – Venezuela has begun preparations to distribute fuel imported from Iran among desperate citizens as the fourth cargo of a five-tanker flotilla was crossing the Caribbean on Wednesday, according to Refinitiv Eikon and a government official.
Iran …
Morgan Stanley on Tuesday raised its year-end Brent price forecast to $40 per barrel, citing a faster-than-expected balance in global oil demand and supply as countries ease coronavirus restrictions and major producers cut supply.
“We expect demand to …
Titan CEO and headline sponsor Wipfli LLP are pleased to announce Josh Allison, CEO of JCA Companies as a 2020 Titan 100. The Titan 100 program recognizes the Top 100 CEO’s & C-level executives. They are the most accomplished business …
Shareholder activists targeting Exxon Mobil Corp’s climate policies stepped up a campaign to split the chairman and chief executive’s roles ahead of the oil major’s shareholder meeting on Wednesday.
Unlike European rivals, Exxon faces little government pressure to curb …
Oil prices fell on Wednesday after U.S. President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong.
A potential deterioration in relations between the world’s two biggest economies could ratchet …
LONDON – Saudi Arabia and its allies in the expanded OPEC+ group of oil-exporting nations have only just started to implement output cuts, so it might seem premature to start talking about the need for an exit strategy.
But …
The International Energy Agency believes the coronavirus pandemic has paved the way for the largest decline of global energy investment in history, with spending set to plummet in every major sector this year.
In the group’s annual World Energy
Oil & Gas 360 Publishers Note: Carla Sertin writes an excellent summary of the …
Weekly Energy Tracker Call (05/26/20)
Haynes and Boone, AEGIS and EnerCom welcome you to a weekly series of webex meetings to discuss business and legal issues erupting in the oil and gas world, including bankruptcy …
Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 6 min summary of the energy markets.
Interesting day in the markets - demand is up!
International News Desk: -
CALGARY, May 26, 2020 /CNW/ (TSX: AAV)– Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to announce the renewal of the Corporation’s existing $400 million revolving credit facility, following completion of
LONDON – Recovering demand as coronavirus lockdowns ease combined with output cuts by top producers could balance global oil markets as soon as June, some analysts and banks predict.
“Bullish sentiment continues to gather momentum as we move closer …
PITTSBURGH, May 26, 2020 /PRNewswire/ — EQT Corporation (NYSE: EQT) today announced that it has closed a transaction to sell certain non-strategic assets and implemented a strategic volume curtailment program.
Asset Sale:
EQT has closed a transaction to sell …
LONDON – Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships …
LONDON – Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up as coronavirus lockdowns ease.
Brent crude LCOc1 futures were up 0.8%, or …
360 News Wire
PITTSBURGH, May 26, 2020 /PRNewswire/ — EQT Corporation (NYSE: EQT) today announced that it has closed a transaction to sell certain non-strategic assets and implemented a strategic volume curtailment program.
Asset Sale:
EQT has closed a transaction …
VERY SPECIAL Mega Memorial Day 360 Digital Closing Bell episode #19 back for another week ahead in energy!
Show starts with Michael Tanner talking about what ESG might look like post-COVID19 as it relates to the markets (hint: slight history
Unit Corporation (NYSE- UNT) (“the Company”) today announced that it has filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”) to …
Reuters
LONDON/LAGOS – The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa’s second-largest oil producer.
The consequences could be grave …
Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 6 min summary of the energy markets.
Oil up at 33.56 and market up.
LONDON – A month after U.S. crude oil prices collapsed into negative territory, European gas markets are facing the prospect of also slipping into the red after a slump in demand and surging inventories pushed prices into low single …
