SINGAPORE The economic trauma caused by the coronavirus pandemic has pushed energy companies to step-up investment in renewables, hydrogen and other low carbon alternatives, but fossil fuels will be their dominant business for the foreseeable future, industry executives said.
SINGAPORE The economic trauma caused by the coronavirus pandemic persuaded energy companies to step-up investments in renewables, hydrogen and other low carbon alternatives, but fossil fuels will remain dominant for the foreseeable future, industry executives said.
* Expects global oil inventory to fall by 300 mln bbls by
* Resurgence in COVID-19 cases to cause demand fluctuation
Colombian oil company Ecopetrol SA aims to drill a total 100 wells by end-2021 in the Permian Basin of West Texas as global oil prices recover, Chief Executive Felipe Bayon said on Monday.
* China's demand for Colombian crude a major support
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SINGAPORE Global oil demand in transportation sectors, with the exception of jet fuel, could return to pre-pandemic levels by the fourth quarter of 2021, draining excess supplies from the market, Vitol's Chief Executive Officer Russell Hardy said.
SINGAPORE Oil major BP has provisionally chartered a supertanker to store crude oil off Malaysia at this year's lowest rate yet, according to industry sources and data on Refinitiv Eikon.
* Saudi crude prices to Asia fall the most in five months in
SINGAPORE Oil futures slipped 1% on Friday, with prices on both sides of the Atlantic heading for their biggest weekly drops since June, as lacklustre demand and ample fuel supplies offset support from a weaker dollar.