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OPEC predicts oil demand to plateau in late 2030s

World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said yesterday, in a major shift for the producer group that reflects the lasting impact of the coronavirus...

October 9, 2020, Friday

Aramco Q2 profits plunge 73% as virus hits prices

Saudi Aramco second-quarter profits plunged a massive 73 percent due to sharply lower oil prices as the coronavirus crisis undercut global demand....

August 10, 2020, Monday

BP sells its petrochem unit to Ineos

British energy group BP, hit hard by the coronavirus pandemic slashing demand for oil, yesterday announced the sale of its petrochemical business to rival Ineos for US$5 billion....

June 30, 2020, Tuesday

OPEC agrees to extend oil cuts

OPEC members, led by Saudi Arabia, and other key oil producers agreed on Saturday to extend historic output cuts through July, as oil prices tentatively recover and coronavirus lockdowns ease. The 13-member ...

June 8, 2020, Monday

BOC halts trading in ‘oil treasure’

THE Bank of China said yes­terday it had suspended transactions to open new posi­tions for its crude oil futures trading product effective imme­diately, following other banks in curtailing energy products. ...

April 23, 2020, Thursday

US$10b plant for ExxonMobil

MULTINATIONAL oil and gas corporation ExxonMobil yes­terday broke ground on its solely funded chemical com­plex in Huizhou, in southern China’s Guangdong Province, a sign of China’s rebounding economy ...

April 23, 2020, Thursday

US crude prices sink on supply-demand turmoil

The soon-to-expire May contract for the US oil benchmark went into a free fall to finish deeply in negative territory on Monday, as the energy market continued to reel from the dual demand-supply shock...

April 22, 2020, Wednesday

WTI oil prices plummet to record low

US oil prices dived to its lowest level ever — below US$10 — yesterday after crashing more than 45 percent in a market flooded with crude and slammed by evaporating demand in the face of the coronavirus ...

April 21, 2020, Tuesday

Oil faces its ‘worst year in history’

The coronavirus outbreak will slash global oil demand in 2020 to erase a decade of growth and set up “the worst year in the history” of the sector, the International Energy Agency said yesterday....

April 16, 2020, Thursday

PetroChina revenue up, profits slide

PetroChina, China’s largest oil and gas producer, reported expansion in revenue in 2019, but its net profit saw a remarkable drop due to slowing global economic growth and unrest in the international oil...

March 30, 2020, Monday



 

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