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People
Venture Global LNG Taps Jack Thayer for CFO Role
Jack Thayer previously served as CFO at Exelon and Constellation Energy Group, both of which are Fortune 500 energy companies.
Crude Oil
Oil Price Structure Signals Global Market Recovery
The new oil price structure marks a turnaround from earlier when the coronavirus outbreak had pushed oil prices into the opposite structure, when prompt prices fell below forward prices, known as contango.
Crude Oil
US Slaps Sanctions On Mexican Firms, Individuals Linked to Venezuelan Oil Trade
US claims that the oil-for-food deal didn’t deliver food for the Venezuelan people.
Crude Oil
OPEC+ Pushes for Compliance, Remains Undecided on Extending Oil Cuts
OPEC and allies, known as OPEC+, have been cutting output since May by a record 9.7 million bbl/d—or 10% of global supply—after oil demand plunged by up to a third.
Public Capital
Chevron’s Stake in Australia’s Biggest LNG Project for Sale
Analysts said it made sense for Chevron to sell its North West Shelf LNG stake now, after it failed to seal a deal to supply gas to the plant from its undeveloped Clio and Acme fields.
Crude Oil
UBS Raises Brent Forecasts, Sees Undersupplied Oil Market
The bank raised its forecast for Brent to $40 per barrel by the end of September, from $32, and to $45 per barrel by the end of December, from $43.
Exploration & Production
US Oil Production Falls to Lowest Point Since 2018
Crude oil stockpiles in the U.S. rise to record high as imports from Saudi Arabia remain elevated.
Exploration & Production
OPEC+ Panel Makes No Recommendation on Supply Cuts
This week’s meetings are part of an OPEC+ effort to review the impact of a record supply that started May 1 cut and hear from countries yet to deliver their share in full, such as Iraq.
Liquefied Natural Gas (LNG)
BP Report: Global Energy Consumption Rises, But Growth Rate Slips
BP CEO expresses concerns about the impact of COVID-19 in a ‘pivotal moment’ for the world.
Crude Oil
IEA: Aviation Crisis Means Oil Demand to Stay Below Pre-Virus Levels Before 2022
Coronavirus fears have cut into flying, putting the industry into an ‘existential crisis.’