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Oil prices collapse as COVID-19 wreaks havoc
PetroVietnam may stockpile oil while prices are low
The oil price crash has prompted PetroVietnam not only to review its spending but also to consider whether it should begin stockpiling crude.
Santos agrees to Darwin LNG, Bayu-Undan stake sale
Australian developer Santos has agreed to sell down its stake in the Darwin liquefied natural gas (LNG) terminal and the Bayu-Undan gas field once its acquisition of ConocoPhillips’ northern Australian gas assets has been finalised.
Indonesia works on low oil price strategy
The Indonesian government is currently trying not only to understand how the international oil price collapse will affect the domestic economy but also what opportunities it creates for the country.
Oil Search slashes budgets in response to price crash
Australia-listed developer Oil Search has slashed its projected capital and investment expenditure for 2020 in response to falling international oil prices.
ONGC begins gas production from KG-D5
India’s state-run Oil and Natural Gas Corp. (ONGC) has begun producing gas from its deep-water KG-DWN-98/2 (KG-D5) block in the Krishna Godavari (KG) Basin.
Energy transition faces tough test after COVID-19 and cheap oil
Post-crisis economic stimulus packages much be focused on clean energy and not coal if the fight against climate change is not to be derailed
Sinochem refuses to buy crude from Rosneft
China’s state-run Sinochem Group has reportedly refused to buy crude oil from Russia’s state-run Rosneft.
Australia’s Victoria State lifts onshore conventional gas drilling ban
Australia’s southern state of Victoria has announced that it will lift its moratorium on conventional onshore gas exploration from July 2021.
Chinese crude production could prove too costly
The immediate future of China’s oil production is in question given the hammering that crude prices have taken since the start of the year.
Nigeria’s Rivers State moots modular refineries as solution to crude oil theft
The government of Nigeria’s Rivers State is mooting plans for the construction of multiple new modular refineries, saying that such facilities might help deter and reduce the theft and illegal processing of crude oil.
ZERA responds to criticism of new licensing requirements
The Zimbabwe Energy Regulatory Authority (ZERA) has pledged to revise new licensing requirements for retail sellers of refined fuels, following complaints from a key player on the domestic petroleum product market.
Caspian Pipeline Consortium shareholders reportedly in standoff after board dissolution
Mexico will not resume oil and gas auctions, finance minister says
Mexico’s Finance Minister Arturo Herrera has said that the government does not intend to resume auctions for joint venture projects with the national oil company (NOC) Pemex.
TechnipFMC stalls split because of market turmoil
Libyan crude production sinks below 100,000 bpd
Libyan oil production has met another grim milestone by falling below the threshold of 100,000 barrels per day
Algeria plans stimulus to help counter the effects of falling oil prices
Algerian President Abdelmajid Tebboune has ordered his government to prepare a supplementary budget to help guard the country’s economy against the steep drop in crude oil prices.
IMF in talks with Ecuador over impact of oil price drop
The International Monetary Fund (IMF) has been in talks with Ecuador to try to help the Latin American country navigate the significant drop in oil prices caused by the global coronavirus outbreak.
ContourGlobal abandons €1.3bn coal-fired power station project in Kosovo
Kosovo’s new Prime Minister Albin Kurti had pledged to stop the 500MW power plant that would have been Kosovo’s largest ever energy investment.
EDF seals Chinese offshore wind deal
China Energy has confirmed that France’s EDF is joining it in developing 502 MW of offshore wind capacity at two sites at a cost of $1.13bn
Tullow Oil optimistic about its chances in 2020, despite lower oil prices
Africa and Latin America-focused Tullow Oil has taken steps to guard against fluctuations in oil prices but still faces risks in the long term.
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