News Desk

News Desk

US renews Chevron’s licence

The Trump administration renewed Chevron Corp’s licence for three months to drill for oil in Venezuela despite sanctions, a compromise between officials seeking maximum...

News Desk

Pemex spills more red ink

Mexico’s state oil company Pemex posted another quarter of major losses, weighed down by falling output and lower crude prices, as the heavily indebted firm faces the...

News Desk

China crude demand up

Chinese independent oil refiners are snapping up crude cargoes from Russia, Oman, Africa and Brazil for delivery in September-October as they ramp up operations after...

News Desk

Petrobras cuts output target

Brazil’s state-run oil firm Petroleo Brasileiro cut its 2019 production target, sending its shares lower on concerns about how quickly the firm will be able to ramp up...