International

Gasoline Demand Recovery Seen in Saudi Arabia’s Price Strategy

Saudi Arabia priced its lighter crudes at more expensive levels than its heavier grades in most regions, another sign that gasoline is leading the way as the global economy recovers from the coronavirus.

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Oxy debates selling down Middle East assets to reduce debt

Occidental Petroleum Corp. is reviewing options for its Middle Eastern assets as it seeks ways to reduce its debt pile, people familiar with the matter said.

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Weatherford C-suite leaders step up as CEO McCollum leaves the company

HOUSTON - Weatherford International announced that Mark A. McCollum, President, CEO and a director, has left the company, effectively immediately. Karl Blanchard, executive vice president and COO, and Christian Garcia, executive vice president and CFO, will form the Office of the Chief Executive, reporting directly to the board of directors and will oversee the day to day operations. The board of directors has initiated a search to identify a permanent President and CEO and will work with a leading executive search firm to assist in the process.

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Oil prices stumble as Saudis set end date for new OPEC+ cuts

Oil traded near $42 a barrel in London after OPEC and its allies agreed to extend historic output curbs by an extra month, but Saudi Arabia signaled it wouldn’t continue with additional, deeper curbs after June.

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Saudis Make Biggest Oil Price Hike in 20 Years After OPEC+ Cuts

Saudi Arabia made some of the biggest price increases for crude exports in at least two decades, doubling down on its strategy to bolster the oil market after OPEC+ producers extended historic output cuts.

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China Begins Consolidation Of $100+ Billion Oil & Gas Pipeline Industry

China has required the three biggest state-held oil corporations to transfer the management of half of their liquefied natural gas (LNG) terminals to the newly created state-controlled midstream firm, Caixin Global reported, citing industry insiders.

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Shell faces spending scrutiny after dividend cut

Shareholders push for clarity on strategy following slashed payout

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OPEC+ Agrees to Extend Output Cuts as Cheats Offer Penance

OPEC+ agreed to a one-month extension of its record output cuts and adopted more stringent methods to ensure members don’t break their production pledges.

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