Remora Petroleum Files for Chapter 11 Bankruptcy

Texas-based Remora Petroleum has become the latest oil-and-gas drilling company to be pushed into chapter 11 bankruptcy because of low commodity prices and the economic downturn caused by the coronavirus pandemic. 


 
Oil Futures Finish Lower

Oil futures finished lower Thursday, pressured after the IEA applied a deeper cut to its forecast for global crude demand in 2020 and as news of diplomatic progress among two Arab nations eased risks to supply from the region. 


 
Natural Gas Prices End Higher on LNG Hopes

Natural gas prices ended 1.4% higher as steady summer demand, curtailed output, and signs that U.S. LNG exports could rebound soon all came together to provide a bullish picture for the commodity. 


 
Coronavirus Projected to Sap More Oil Demand Than Expected

High coronavirus case numbers in several major economies will blunt the recovery of an oil market already beleaguered by low demand, the International Energy Agency said. 


 
RWE Eyes Upper End of Guidance Range

RWE posted an 18% rise in first half adjusted profit to EUR1.81 billion and said its earnings for the year should hit the upper end of forecast ranges. 


 
Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities 


 
Oil Demand Faces Bigger Coronavirus Shock Than Previously Thought

The coronavirus pandemic will have an even bigger impact on the global economy and its demand for oil than previously expected, OPEC said. 


 
Tankers Waiting for Weeks off Congested China Ports, Oil Facilities

Crude-laden tankers have been lining up for weeks at a time off China's coast as ports struggle to handle the millions of barrels of inbound oil that have swamped the country's overfilled storage sites. 


 
U.S. Oil Refiners Accelerate Shift to Renewables in Downturn

Phillips 66 plans to convert a San Francisco-area oil refinery into a biofuels plant, the oil industry's latest move amid depressed fuel consumption and growing U.S. regulatory pressures. 


 
U.S. Oil Inventories Fall for 3rd Consecutive Week

U.S. inventories of crude oil fell more than expected last week, while fuel stockpiles also declined, according to data released Wednesday by the Energy Information Administration.