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Marathon sets up for $1.1 billion tax refund via coronavirus aid law

WASHINGTON (Bloomberg) –Marathon Petroleum Corp. is poised to claim a $1.1 billion tax refund due to the coronavirus stimulus law enacted in March. That measure…

Atlantic Basin Oil Supply Plunges To 8-Year Low

Western Europe’s largest oil producer, Norway, which is not officially part of the OPEC+ coalition, is cutting its oil production because of the slump in…

Anders Opedal taking over as president and CEO of Equinor from 2 November 2020

The Board of Directors of Equinor (OSE: EQNR, NYSE: EQNR) has appointed Anders Opedal as new president and CEO of Equinor from 2 November 2020….

Contrary to Greek commitment, Turkey restarts offshore oil exploration

Turkey resumed oil and gas exploration in the Mediterranean Sea days after the government said it would delay offshore surveys to seek a diplomatic resolution…

Iraq Commits to Deep Oil Cuts as OPEC+ Ramps Up Pressure

Iraq made its strongest commitment yet to implement deep cuts in crude production after the country’s oil minister and his Saudi counterpart held a phone…

Nigeria Looks To Settle Export Dispute With Big Oil Firms

The Nigerian National Petroleum Corporation (NNPC) has signed a preliminary agreement with two companies over a dispute about foreign firms exporting Nigerian oil from some offshore fields,…

Cost Of Shale Gas Drilling Permit In Pennsylvania Jumps 150%

Pennsylvania more than doubled as of August 1 the fee for all unconventional well permit applications, while shale companies call on state officials to find other mechanisms…

Oil slips below $42 on rising U.S. – China tensions

SINGAPORE (Bloomberg) –Oil in New York fell as U.S. President Donald Trump’s latest attack on Chinese tech companies stoked tensions between the two countries, weighing…

Supermajor Era Ends for BP

(Bloomberg) — In the late 1990s, BP Plc boss John Browne used an oil-price slump to usher in the age of the supermajor, buying U.S….

Exxon Says 20 Percent of Reserves Threatened

(Bloomberg) — Exxon Mobil Corp. warned that low energy prices may wipe as much as one-fifth of its oil and natural gas reserves off the…

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