Edition:
United States

Dmitry Zhdannikov

Exclusive: Only a quarter of BP's 10,000 job cuts to be voluntary

Oct 16 2020

LONDON BP is set to make around 7,500 compulsory redundancies after roughly 2,500 staff - or just over one in ten of those eligible - applied for voluntary severance, according to an internal memo seen by Reuters and company sources.

Exclusive: Only a quarter of BP's 10,000 job cuts to be voluntary

Oct 16 2020

LONDON BP is set to make around 7,500 compulsory redundancies after roughly 2,500 staff - or just over one in ten of those eligible - applied for voluntary severance, according to an internal memo seen by Reuters and company sources.

Oil extends losses as rising virus cases spur demand worries

Sep 30 2020

TOKYO/LONDON Oil prices fell for a second day on Wednesday as rising coronavirus cases prompted concerns about further restrictions on global economic activity that could curb fuel demand.

Oil traders doubt OPEC will boost output as planned in 2021, citing bearish signals

Sep 29 2020

LONDON OPEC is unlikely to increase oil output as planned from January next year as it could mean adding more downside pressure to the already bearish and weak market, top traders said on Tuesday.

Angolan energy giant made no money from oil in 2019 as debt bites

Sep 29 2020

* Angola wants to privatise Sonangol, depends on its revenues

Vitol expects tough second half as oil trading flatlines

Sep 21 2020

LONDON After extreme oil volatility that provided traders with bumper profits in the first half of the year, the market is now stuck in a lower gear, fatigued by the realities of COVID-19.

With a battered economy, Iraq debates its contribution to OPEC+ oil cuts

Sep 10 2020

DUBAI/BAGHDAD/LONDON A debate within Iraq over whether it should ask to be exempt from OPEC+ oil supply cuts has resurfaced as low prices squeeze its finances, challenging a government struggling to tackle the destruction of years of war and rampant corruption.

Second wave of floating storage triggered by ailing oil market

Sep 09 2020

LONDON A stalled global economic recovery from the coronavirus pandemic is leading to a fresh build-up of global oil supplies, pushing traders including Trafigura to book tankers to store millions of barrels of crude oil and refined fuels at sea again.

Exclusive: Gazprom's GMT closes down crude, products trading desk

Sep 09 2020

LONDON Russian gas giant Gazprom's overseas trading arm, Gazprom Marketing and Trading (GMT), is closing down its crude oil and refined products trading desks as part of an ongoing cost cutting, two sources familiar with the development said.

EXCLUSIVE-Gazprom's GMT closes down crude, products trading desk

Sep 09 2020

LONDON, Sept 9 Russian gas giant Gazprom's overseas trading arm, Gazprom Marketing and Trading (GMT), is closing down its crude oil and refined products trading desks as part of an ongoing cost cutting, two sources familiar with the development said.

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