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Crude Oil

Canadian government commits C$320mn to aid offshore oil industry

Canadian government commits C$320mn to aid offshore oil industry

  • O'Regan said in St. John's, Newfoundland and Labrador, that the funds are intended to support jobs, and could be used for maintenance, upgrades and environmental services.
  • The money falls short of requests from the industry, which included a government stake in a major project, tax credits and investment incentives.
Published 25 Sep, 2020 11:34pm
ConocoPhillips sees global oil demand returning
Markets

ConocoPhillips sees global oil demand returning

  • The view stands in contrast to rival BP Plc, which sees the coronavirus pandemic leaving a lasting effect on global energy demand.
  • Capital spending in 2021 will be "somewhat below" its original planned 2020 level of $6.6 billion, Macklon said.
Published 24 Sep, 2020 11:30pm
Russian oil exports seen stable in October
Markets

Russian oil exports seen stable in October

  • Russia plans to load 3.5 million tonnes of Urals oil from its Baltic ports in September and 1.6 million tonnes of Urals and Siberian Light oil from the Black Sea's Novorossiisk.
  • Traders believe this will not be the case this time due to production cuts by Russia within the OPEC+ global deal.
Published 18 Sep, 2020 07:02pm