The oil industry continues to struggle with some of the biggest names in the sector being forced to drastically cut costs Chesapeake faces the very real prospect of bankruptcy, having dropped from $170 per share to less than $13 this year The diplomatic activity in Libya has hit fever pitch as Haftar and the GNA push to gain control of the nation’s oil revenues COVID Market Update Adding to plans to slash 10,000 jobs by the end of the year, BP made another painful announcement this week to write down nearly $18 billion in oil and gas assets as it cut energy price forecasts. It also raised $12 billion of debt this week in hybrid bonds that is sure to help its balance sheet. Iraq has made significant cuts in Basra crude supplies to Asia in July as the producer complies with an OPEC ultimatum to cut output. Basra […]