International

Air Liquide, Groupe PSA, Schneider Electric, Valeo rise to the challenge of producing 10,000 Air Liquide Medical Systems Respirators

Faced with the compelling need for more respirators on its national territory, the French government has asked, on March 22, a group of French industrial companies led by Air Liquide to study the possibility of increasing the production of respirators so as to provide 10,000 respirators in 50 days, between the beginning of April and mid-May.

China Starts Buying Oil for State Reserves After Price Crash

China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash, according to people with knowledge of the matter.

Trump considering crude oil import limits for US refiners: sources

President Donald Trump is considering a plan which would significantly limit US refineries from importing foreign crude and instead process Bakken, Permian and other domestic crudes, sources said Tuesday.

Saudi Aramco Weighs Pipeline Stake Sale to Raise Cash

Saudi Aramco, the world’s largest oil producer, is weighing the sale of a stake in its pipeline unit to raise money amid a slump in crude prices, according to people familiar with the matter.

Italy’s Eni to review Middle East projects

Italy’s Eni is reviewing its projects in the Middle East because of the coronavirus pandemic and oil market conditions, Reuters reported citing a senior company official.

Shell, other oil companies seek less Saudi crude in April due to weaker demand

Several European and Nordic oil refiners are taking less crude from Saudi Arabia in April, industry sources said, suggesting a lack of demand for the extra supplies the country has offered as it seeks to boost market share.

Oil prices mixed as demand shrinks, but stimulus hopes support

Oil prices were mixed on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a U.S. $2 trillion emergency stimulus will shore up economic activity.

Oil’s 60% Crash Is the Tip of an Iceberg. The Reality Is Worse

As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still