Archives for 2020
Staggering loss of demand raises pressure on OPEC+ to cut output
What happens Thursday could bend the fortunes of energy players across the globe, from Big Oil and U.S. shale companies, to petro-states such as Nigeria and Kazakhstan. Source: FuelFix
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Fuel demand rout sends ethanol output to lowest in a decade
The American ethanol industry is cutting production like never before as coronavirus lockdowns keep drivers off the roads, crushing demand for fuel. Output of corn-based biofuel plunged by a record 20% to an average daily...
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One nation wants to double oil drilling just as prices crash
Mexico’s national oil company is acting like the crash never happened. Source: FuelFix
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Marathon Oil plans ‘frac holidays’ to cut 2020 spending
The Houston-based company is reducing capital spending this year to about half of 2019 levels, joining a parade of shale drillers doing the same. Source: FuelFix
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Plains cuts third of budget as pipeline operators feel market pressure
Houston-based Plains All American Pipeline has cut one-third of the company’s capital expenditure budget as the oil and natural gas industry continues to feel the pressure of record low prices and falling demand due to...
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