‘DIFFERENT PLANET’ It is more difficult for the U.S. government to coordinate a production cut with another country because American oil companies are not state owned. But as Washington scrambles to limit the price shock that threatens to bankrupt companies and lay off thousands of oil and gas workers heading into the November election, it […]
* Jan-Feb Saudi shipments 1.79 mln bpd; +26% y/y * Russian Jan-Feb imports 1.71 mln bpd; +11% y/y * Iranian shipments down 81% y/y * Zero imports from the U.S. and Venezuela Jan-Feb By Muyu Xu and Chen Aizhu BEIJING/SINGAPORE, March 25 (Reuters) – China’s crude oil imports in the first two months of 2020 […]
It pledges “to take a comprehensive, science-based approach in elaborating, implementing and improving measures to slow down the transmission of, reverse and eventually defeat COVID-19,” following WHO rules and recommendations and supports those people and countries most affected.
While much of the world shuts down, the ground-zero Chinese city of Wuhan has started to reawaken in recent days, giving the bereaved the first chance in months to bury their dead. – AFP
U.S. President Donald Trump ordered the DOE on March 13 to fill the reserve “to the top” to help oil producers suffering from the global oil price drop, and the initial solicitation asked for supply only from U.S. companies with fewer than 5,000 employees.
However, company executives saw only limited impact on CNOOC’s operations from the coronavirus outbreak in the first quarter and February oil and gas production was higher than a year earlier. They said oil prices of $50-60 were an acceptable level for producers over the longer term.
The number of coronavirus infections globally headed toward 800,000. In a positive development, Deutsche Bank analysts noted the global growth in new cases was below 10% for two consecutive days, having exceeded that rate for most of the past two weeks.
The dollar fell broadly on Tuesday after the U.S. Federal Reserve said it will allow foreign central banks to exchange their holdings of U.S. Treasury securities for overnight dollar loans to ease a dollar funding crunch.
FILE PHOTO: A pedestrian wearing a face mask walks near an overpass with an electronic board showing stock information, following an outbreak of the coronavirus disease (COVID-19), at Lujiazui financial district in Shanghai, China March 17, 2020. REUTERS/Aly Song
“Today, we saw off over 400 Russian nationals on Moscow-bound airplane. This was a fourth dedicated flight to bring our compatriots home. This mission required dedication on behalf of many agencies,” Ambassador of Russia to India Nikolay Kudashev said in a statement.