Businessman Phan Quoc Viet was making his usual prayers at a pagoda in Tay Ninh, a province in southern Vietnam when the government official’s call came. It was late January, Continue Reading
China National Offshore Oil Corporation (CNOOC), a major oil operator with assets around the world, is reducing its 2020 production and spending guidance in light of the unprecedented market downturn, Continue Reading
China National Offshore Oil Corp. cut its production and capital expenditure targets by 2.9% and 11.1%, respectively, for 2020 from the original plan amid low oil prices, with the reduction Continue Reading
Shipowners are starting to gear up for South Korea’s stricter environmental emissions rules despite having no time to draw breath after transitioning to IMO 2020 and grappling with the coronavirus Continue Reading
The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down Continue Reading
Chesapeake Energy Corp ( CHK.N ), the oil and gas exploration and production company that was at the forefront of the past decade’s U.S. shale boom, is preparing a potential Continue Reading
Tesla Inc ( TSLA.O ) on Wednesday posted its third quarterly profit in a row, but said the novel coronavirus was hurting deliveries and lockdown restrictions made it impossible for Continue Reading
A fleet of supertankers carrying Saudi oil will add to the growing congestion at U.S. ports in coming weeks at the same time producers are shutting in output as they Continue Reading
The Trump administration may announce as soon as Thursday a plan to offer loans to the ailing oil industry possibly in exchange for a financial stake, according to two people Continue Reading
Devastated by the coronavirus, the U.S. economy is sinking. And the plunge is accelerating. Now, as some businesses in a few states start to trickle back to work, hopes are Continue Reading
