bp pulls the plug on 65-year-old Australian oil refinery

The refinery will be converted to a fuel import terminal while the oil giant is also exploring options for a clean energy hub

India plans to store oil in the US amid the global pandemic

As part of a new agreement with the US, India discussed the possibility of storing oil in the American emergency stockpile

Yemen oil tanker poses ‘catastrophic environmental threat’, warns UK

The rusting FSO SAFER oil tanker has 1.14 million barrels of crude oil on board

South Africa announces increases to fuel prices

Changes in Brent crude oil prices, along with the appreciation of the national currency against the dollar has informed the decision – applicable from June 3, 2020

Coronavirus knocks oil prices below zero for first time in history

US oil prices turning negative for the first time in history means some producers were paying customers to take oil off their hands

Oil and gas business
US to purchase 77m crude oil barrels to support producers amid pandemic

It has initially bought 30 million crude oil barrels to place in its Strategic Petroleum Reserve

Chevron cuts capital spending by $4bn in response to coronavirus crisis

US oil giant said it would “continue to execute” plans to reduce operating costs by more than $1bn by the end of the year

Crude oil price forecast to fall in the first half of 2020

The Energy Information Administration forecasts Brent crude oil spot price will average $65 per barrel in 2020 and $68 per barrel in 2021

Higher oil price and production forecast in the US

Production is projected to rise by 30,000 barrels per day, according to the Energy Information Administration

ExxonMobil granted US Strategic Petroleum Reverse lease

The Department of Energy said ExxonMobil Pipeline Company (EMPCo) has signed a 20-year lease to operate the St James Marine terminal and Bayou Choctaw 36-inch Pipeline