International

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

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.