The Last 6 Oil Rigs In The Centennial State

The oil price crash has forced producers in Colorado to slash their capital expenditure, suspend completion activities, and release rig crews, leaving just six operating rigs in the state as of May 29 - the lowest number of rigs in at least 28 years.   Lower liquidity and constrained access capital could make life for the companies operating in Colorado’s ...

Source: Oilprice.com

Iran Ready To Send More Fuel To Crisis-Stricken Venezuela

Iranian Foreign Ministry spokesman Abbas Musavi says Tehran will continue to export fuel to Venezuela if the South American country requests more supplies. Both Iran and Venezuela are under U.S. sanctions and Washington has sought to deter such shipments. "Iran practices its free trade rights with Venezuela and we are ready to send more ships if Caracas demands more ...

Source: Oilprice.com

World’s Top Solar Panel Producer Opens New Mega Factory

Renewables stocks have outperformed the broader energy markets in the last couple of months and, while Covid-19 has disrupted supply chains and caused a temporary dip in solar installations, the mid-and-long-term outlook for the sector as a whole remains bright. This is especially true in China, where Jinko Solar, the world’s largest solar panel manufacturer has just started operations at ...

Source: Oilprice.com

Pembina Pipeline Corporation Provides Notice of Series 19 Preferred Share Conversion Right and Announces Reset Dividend Rates

CALGARY – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) announced today that it does not intend to exercise its right to redeem the currently outstanding Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 19 (“Series 19 Shares”) (TSX: PPL.PR.S) on June 30, 2020 (the “Conversion Date”). As a result, subject to certain terms of the Series [Read more]

Source: BOE Report

Suncor: Energy Transition Will Destroy Oil Demand

Low-carbon technologies could disrupt global oil demand in the not-too-distant future the way COVID-19 crushed demand during the lockdowns worldwide, Mark Little, chief executive of one of Canada’s largest oil producers, Suncor Energy, wrote in an opinion piece published on Monday. “The temporary economic lockdown triggered by the 2020 pandemic is giving us a glimpse into a not-too-distant future where ...

Source: Oilprice.com