Putin won’t cave in to Saudi oil-price blackmail
Russian President Vladimir Putin will refuse to submit to what the Kremlin sees as oil blackmail from Saudi Arabia, signalling the price war that’s roiling global energy markets will continue.
Saudi Arabia
Oil’s record rally continues as Trump wades into price war
Oil continued climbing after its biggest ever single-day gain as U.S. President Donald Trump waded into the price war between Saudi Arabia and Russia that has rocked crude markets amid diminishing demand.
African Energy Chamber calls for tax holiday
African states need to take urgent action to protect local oil and gas businesses, providing a three-month tax holiday, the African Energy Chamber has said.
Oil stuck near $30 as global rout deepens
Oil clawed back some losses after collapsing below $30 a barrel as the shut down of swathes of the world’s economy triggers a meltdown in global fuel demand and the most volatile market on record.
Oil over supply to hit record levels
There could be 10 million barrels per day more of supply than demand in March and April this year, according to IHS Markit.
OGUK to chop up flagship industry report due to coronavirus disruption
Oil and Gas UK (OGUK) has decided to chop up one of its flagship industry reports and cancelled key events in response to the coronavirus outbreak.
Oil traders are ‘big winners’ from Saudi-Russia price war
Saudi Arabia and Russia’s price war is handing over a multi-billion dollar profit opportunity to the world’s largest oil traders.
Trump’s answer to the oil crash could be a tax on Saudi crude
If Donald Trump wanted to shield U.S. shale from oil’s crash, he could unleash a familiar weapon against rival producers such as Saudi Arabia: tariffs.
Abu Dhabi lines up April production boost
Abu Dhabi intends to supply more than 4 million barrels per day of crude in April, following recent moves by Saudi Arabia and Russia to maximise output.
Oil rally falters after Saudis vow to further boost production to 13 million barrels
Oil’s rebound from its biggest crash in a generation faltered after Saudi Arabia said it would boost its production capacity, while there were also doubts whether the U.S. could deliver sufficient stimulus to support prices.
Budget forecasts on North Sea revenues will be ‘wrong’ due to oil price freefall
The oil price freefall means projections for the UK’s North Sea revenues are already out of date before the Budget is even published, according to a leading analyst.
America’s days as net oil exporter are numbered amid price rout
America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to world’s biggest producers.
Talk of US tax cut helps oil prices rebound
Oil rebounded from its worst loss since 1991 on speculation that potential U.S. tax cuts may shield the market against the coronavirus and a price feud between major producers.
Prolonged price war threatens return of ‘brutal’ cost cuts, experts say
A price war between two of the world’s biggest oil producers has sparked one of the worst crude routs in decades, putting companies under “huge pressure” and threatening “brutal” cost cuts.
North Sea ‘already battening down the hatches’ over oil price-quake
I can imagine the expletives uttered the length and breadth of the North West Europe Continental Shelf as folk across the offshore oil & gas industry woke up this morning … from operators right down the food chain to the smallest service companies.
Supply booms, demand languishes: all are punished
Oil price falls below $40 per barrel spell problems throughout the industry, with companies and countries alike facing tough times.
Oil crashes as Russia-Saudi price war breaks out
Oil markets crashed more than 30% this morning after the disintegration of the OPEC+ alliance triggered an all-out price war between Saudi Arabia and Russia that is likely to have sweeping political and economic consequences.
Demand-supply shock could send crude price into $20s, Citi oil veteran says
Oil’s getting hammered by a unique concurrence of demand and supply shocks that could send prices into the $20s, according Ed Morse, Citigroup Inc.’s head of commodities research.
Real danger for North Sea FIDs as Opec+ talks collapse
A slump in crude prices following the collapse of high-stakes talks today has created a “real danger” that North Sea oil firms will delay investing in new fields, a top petroeconomist said.
Saudi Aramco begins preparations for international listing
Saudi Aramco is starting early preparations for an international listing, just months after the oil giant turned its record initial public offering into a domestic affair and sidelined global banks, people with knowledge of the matter said.
A five-decade rivalry is playing out at OPEC+
Revenge, they say, is a dish best served cold.
Oil tumbles on Coronavirus fear while Saudis see ‘very limited’ impact
Oil tumbled on fears China’s deadly coronavirus will crimp demand, prompting Saudi Arabia to say it was closely monitoring the situation.
US-China deal provides boost for energy exports
A deal by the US and China goes some way to ending the two-year trade war, with particular support in the agreement for agriculture and energy exports.
Swell of offshore project approvals brings ‘new investment cycle’ – Rystad
A swell of offshore project approvals means a “new investment cycle is in the making”, according to analysts.
Five sentenced to death in Khashoggi murder
A Saudi court sentenced five people to death for the murder of government critic Jamal Khashoggi but ruled that last year’s assassination wasn’t premeditated and said it didn’t have enough evidence to incriminate two top officials close to Crown Prince Mohammed bin Salman.