Chesapeake Shares Plummet Over Debt Worries
Once a vanguard of the US shale revolution, Chesapeake has fallen headlong toward collapse as it and rival drillers flooded the US with excess gas. (Bloomberg) — Chesapeake Energy Corp.’s Continue Reading
European companies face coronavirus hit to supply chains
Four of world’s biggest carmakers will be forced to shut down European production, one of the sector’s key suppliers has warned, after an electronics factory in Lombardy was forced to Continue Reading
Russia: Coronavirus Impact On Oil Is Worse Than Expected
Russia continues to refuse to announce its position regarding deeper cuts by the OPEC+ coalition, but admitted that the coronavirus outbreak could lead to additional downward revisions to the global Continue Reading
Eni says Italian plants unaffected by coronavirus after staff sent home
Italian oil major Eni continues to operate its domestic refineries and power plants in northern Italy normally, a company spokesman said Thursday, despite sending home staff at its headquarters in Continue Reading
Powered by hydrogen, Hyundai’s trucks aim to conquer the Swiss Alps
Hyundai’s hydrogen-powered 18-tonne trucks are set to hit the roads in Switzerland next month as the South Korean automaker looks to establish a case for its zero-emissions technology in a Continue Reading
French consumer pulls back even before coronavirus outbreak
French consumer spending fell unexpectedly sharply in January, official data showed on Friday, flagging a weak start to the year even before the coronavirus outbreak began taking its toll. The Continue Reading
German jobless total unexpectedly falls by 10,000 in February
German unemployment dropped unexpectedly in February, the Federal Labour Office said on Friday, suggesting that the strong job market will continue to propel growth in Europe’s largest economy. Data from Continue Reading
Oil prices fall for fifth day to lowest in a year
Oil prices fell 2% on Thursday, plunging for fifth day to their lowest since January 2019 as a rise in new coronavirus cases outside China fuelled fears of a pandemic Continue Reading
Crude oil futures slump by more than 1% on weaker demand prospects
Crude oil futures fell by more than 1% in mid-morning trade in Asia Thursday as prospects of weaker demand continues to grip energy markets. At 10:30 am in Singapore (0230 Continue Reading
Major Bank Sees Abysmal Demand Growth For Oil
Oil prices could bounce around between $50 and $70 through 2025, with both demand growth and supply growth slowing, according to a new report. The oil market faces a steep Continue Reading