Tag Archives: The National

World wars, depression and flu pandemics have hit oil demand before, but never has the industry faced the sudden disappearance of a fifth of its market. The suddenness and depth of the coronavirus-caused decline has gone beyond a matter of economics to one of physical reality. As the oil business …

French oil major Total will freeze recruitment, boost costs savings and halt its share buyback programme due to tumbling oil prices, chief executive Patrick Pouyanne told staff in a video message on Thursday, according to a union official. The group is the latest oil and gas producer to slash investment …

Global oil spare production capacity could fall in April as Saudi Arabia and the UAE bring more supply to the market following the collapse of output restriction pact. “Global spare capacity will drop by 2-3 million bpd as most of the players with spare capacity will start ramping up their …

Many shale producers are highly exposed to the current low oil prices.

CERAWeek. organized by consultancy IHS Markit was scheduled to run from March 9 to 13 in Houston.

Saudi Arabia and some other countries are looking for a 1 million bpd output cut for Q2. 2020 amidst weakening global demand.

The Latin American country is seeking feedback from global oil majors to improve participation in upcoming auctions.

The zone was formally partitioned between Saudi Arabia and Kuwait in 1970.

European states had to do more to preserve the 2015 nuclear deal in the face of the US withdrawal last year.

Iraq is playing a role to calm the situation but it is not a mediation.