International

Fleeting OPEC-Shale Détente Exposes Wildcat Roots of U.S. Oil

Prospects of a rare détente between OPEC and the biggest U.S. oil state faded as quickly as they rose as Texas regulators and explorers clashed over a proposal to cap crude output for the first time in almost 50 years.

Chinese Oil Refiner Says No to Crude Oil From Russia’s Rosneft

The trading arm of a Chinese state-owned refiner is turning away crude from Russian energy giant Rosneft PJSC, the parent of a unit hit by U.S. sanctions.

COVID-19 effects delay TechnipFMC split

LNG engineer TechnipFMC has put its planned split into TechnipFMC and Technip Energies on hold.

Wintershall DEA to host its Annual Press Conference “Fully Online”

Wintershall DEA revealed Thursday that it will host its annual press conference “fully online” this year and cancel in-person events. The move is based on health advice from the national authorities and in line with the company’s duty of care to its stakeholders and its own people, Wintershall DEA outlined. The press conference will be live-streamed on March 18.

Saudi Aramco to cut capital spending in 2020, posts drop in 2019 profit

Saudi Aramco 2222.SE on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, as it posted a 21% decline in 2019 net profit due to a drop in oil prices and production, its first earnings announcement as a listed company.

Almost all new wells lose money in shale’s ‘new normal’

America’s shale producers already had a profitability problem. It just got a lot worse.

Saudis Plan Big Oil Output Hike, Beginning All-Out Price War

Saudi Arabia plans to increase oil output next month, looking to boost it well above 10 million barrels a day, as the kingdom responds aggressively to the collapse of its OPEC+ alliance with Russia.

Russia breaks Opec oil alliance as it takes on US shale

Moscow seizes opportunity to undermine North American rivals at the expense of the cartel