The construction of the Nord Stream 2 pipeline was allowed to restart immediately according to the German Federal Maritime and Hydrographic Agency on Friday. The agency gave approval for a vessel to operate in German waters. Local media stated the restart may be delayed by legal action. Environmental groups are
On Tuesday, US oil prices dropped 7%, representing crude oil’s worst day and lowest closing price in almost a quarter. At one point during the day, prices were down as much as 9% with an average of $36.76 a barrel. For the first time since late June, Brent crude fell
On Monday, Venezuelan authorities welcomed a second Iranian fuel tanker. As the ship entered international waters, it was met with naval frigates and helicopters dispatched by Venezuela. This is a lifeline for Venezuelan President Nicolas Maduro and represents close ties being forged between Tehran and US adversaries in Latin America.
Experts warn that Russia’s compliance with an oil production deal with Saudi Arabia and the US could be threatened by the country’s outdated infrastructure and other complications, such as winding down a broad network of wells across its massive landmass. In early April, the three countries agreed to head a
Russia, OPEC, and other oil-producing nations have announced on Sunday that they have finalized an unprecedented production cut. The cut consists of nearly 10 million barrels, which represents a tenth of the global supply. The measure aims to boost oil prices amid the coronavirus pandemic and a price war, according
This OODA special report focuses on the Energy Sector. It is written both for firms that are in the sector and for those that seek to serve it with the products and services they need.
Companies in this sector provide functions like exploration, production, marketing, refining and/or transporting of oil and gas products, coal and other consumable fuels. Some of the world’s biggest, most widely known brands are in this sector. Companies like Exxon Mobil, BP, Chevron, Halliburton, Marathon Oil, Phillips 66, Shell, Sunoco are powerhouses in the industry and are also household names because they deliver oil and gas directly to consumers.
Parts of the Petróleos Mexicanos (Pemex) oil company network were taken down after they suffered from a ransomware attack on Sunday. Although the attack was quickly neutralized and had a low quantitative impact on computers within the network, the attackers reportedly demanded a 565 BTC ($4.9 million) ransom, claiming they