With global demand and profits stung by the spread of Covid-19, the shutdown of 53-year-old Convent, which has about 675 employees, is part of Shell’s larger strategy to shrink its portfolio to six facilities from 14 by 2025, Shell said in a statement. SourceContinue Reading

Crude is ending a rough week with a decline after gains in the first half as the demand outlook turns more grim. Refineries across the U.S. and Europe have shut as a result of the pandemic and traders continue to brace for high volatility. SourceContinue Reading

Brent will probably continue ranging between $38 and $43 a barrel, according to Ibrahim Al-Buainain, head of Aramco’s trading unit. That’s far below what most members of the cartel, including Saudi Arabia, need to balance their budgets. SourceContinue Reading

Officials at the European Commission, the union’s executive arm, are assessing ways to reduce pollution from gaseous fuels as part of the Green Deal, an environmental clean-up of the entire economy. SourceContinue Reading

Aside from the election, the oil market is now facing up to renewed lockdown measures as a result of Covid-19. SourceContinue Reading

Weatherford International announced its smart rod-lift solution, comprised of production optimization software, automation, and skilled engineers, boosted uptime 42 percent and increased production 37 percent for 40 reciprocating rod-lift wells in Sumatra, Indonesia. SourceContinue Reading

The contract is expected to commence in November 2020 and has an estimated duration of 110 days. SourceContinue Reading

“Biden is not going to be able to ram through a costly, zero-carbon mandate through a Republican Senate. Obama couldn’t do it with control of both the House and the Senate,” said Dan Eberhart, a Republican donor and chief executive of drilling services company Canary Drilling Services LLC. SourceContinue Reading

Tourmaline Oil Corp. is buying two rivals in the Canadian oil and gas industry’s latest move to weather its worst downturn in a generation. SourceContinue Reading

While the outcome of the presidential race remains unclear, a Joe Biden victory would likely coincide with a Republican-controlled Senate that could hinder his efforts to address climate change, promote clean energy and roll back fossil-fuel subsidies. SourceContinue Reading