Fitch Ratings downgraded Petroleos Mexicanos for a second time in five months. plunging the world’s most indebted oil company into junk status.
Read More »Putin Highlights Differences with Saudis as OPEC Decision Looms
A year ago. in the enduring twilight of one of St. Petersburg’s famous white nights of summer. Saudi Arabia and Russia reached an agreement that set a new direction for the oil market.
Read More »Oil Sinks Into Bear Market as U.S. Storage Jumps Most Since 1990
West Texas Intermediate crude entered a bear market and Brent tumbled below $60 after U.S. petroleum inventories ballooned. raising fears of a glut as trade disputes threaten demand.
Read More »Russia Meets Its OPEC+ Target in May amid Dirty Oil Crisis
Russia’s exports to countries outside the former USSR in May dropped to 20.17 MM tons.
Read More »China Targets FedEx in Warning to U.S
China targeted FedEx Corp. in its escalating trade war with the U.S.. giving a hint of the kind of foreign companies it may blacklist as unreliable.
Read More »Mexico Kicks Off $7.7 Billion Refinery Construction
Mexico is kicking off the construction of its $7.7 billion (150 billion peso) oil refinery.
Read More »Chevron Seeks Relief from Trump`s Venezuela Oil Sanctions
Chevron Corp. is lobbying the U.S. for sanctions relief so it can continue doing business in oil-rich Venezuela.
Read More »Canadian Natural Closer to King of Oil Sands with Devon Purchase
Canadian Natural Resources Ltd. can’t yet claim the King of the Oil Sands status. but it’s a lot closer to overtaking its rival Suncor Energy Inc. after buying a key Athabasca drilling site.
Read More »New Singapore Prime Minister Could Pose Threat to PNG Natural Gas Projects
A critic of Papua New Guinea’s resource deals has been chosen as the country’s prime minister. a potential speed bump for multi-billion-dollar natural gas export projects led by Exxon Mobil Corp. and Total SA.
Read More »Icahn Sues Occidental. Threatens Fight for Sale of the Company
Activist investor Carl Icahn launched a lawsuit against Occidental Petroleum Corp. with the goal of potentially seeking board seats and a sale of the company.
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