Oil Falls as Jump in Virus Cases Threatens Fuel-Demand Recovery
Oil prices remained in the red in early European trade on concerns another jump in coronavirus cases in the U.S. will put the brakes on a nascent recovery in fuel demand.
BP Exits Petrochemical Business in $5 Billion Deal
Energy giant BP has agreed to sell its petrochemicals business to British chemicals company Ineos in a $5 billion deal that will help reshape its business for the global transition to lower-carbon energy, the company said on Monday.
Fracking Trailblazer Chesapeake Energy Files for Bankruptcy
Chesapeake Energy filed for bankruptcy protection as an oil- and gas-price rout stoked by the coronavirus pandemic proved to be the final blow for a shale-drilling pioneer long hamstrung by debt.
Oil Prices Fall as Rising Covid-19 Cases Prompt Demand Concerns
Oil prices edged lower Friday to cap the second weekly decline since April, as investors adjusted expectations to account for rising crude inventories and surging U.S. coronavirus cases.
Rio Tinto, Mongolia Reach Agreement on Domestic Power Supply for Oyu Tolgoi
Rio Tinto said it has reached agreement with Mongolia's government on domestic power supply to the Oyu Tolgoi copper mine.
Frac-Sand Supplier Hi-Crush Negotiating Chapter 11 Bankruptcy
Hi-Crush Inc., which supplies oil and gas companies with sand used in fracking, is negotiating the terms of a chapter 11 bankruptcy with lenders following a sudden decline in business stemming from plunging crude prices and disruption from the coronavirus pandemic.
U.S. Oil-Rig Count Falls by 1 in Latest Week, Baker Hughes Says
The number of rigs drilling for oil in the U.S. fell by 1 in the past week to 188, according to oil-field services company Baker Hughes.
Russian Fighters Help Tighten Rebel Control of Libya's Largest Oil Field
Mercenaries connected to the Russian government have joined forces with a rebel militia to hold Libya's largest oil field, European and Libyan officials said, prompting U.S. protests over foreign interference in the country's most strategic industry.
Sable Permian Files for Bankruptcy Amid Restructuring Talks
Out-of-court restructurings kept the oil-and-gas operator afloat for years, but 2020 proved too much.
Owners of Ailing Energy Trader Hit Back at Critical Report
The family owners of distressed energy trader Hin Leong Trading claimed unfair treatment after a report alleged serious irregularities, including a $3 billion-plus overstatement of its assets.
