Category Oil & Gas Blog

ConocoPhillips to Implement $2.2B in Cash-saving Measures

ConocoPhillips announced that it is taking several actions in response to the recent oil market downturn. “Our industry is clearly experiencing an unprecedented event brought about by simultaneous supply and demand shocks,” said Ryan Lance, chairman and chief executive officer. “The actions we are now taking reflect an acknowledgement of current events as well as

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China Refuses Oil From Russian Companies Hit by U.S. Sanctions

The trading arm of a Chinese state-owned refiner is turning away crude from Russian energy giant Rosneft PJSC, the parent of a unit hit by U.S. sanctions. Sinochem International Oil (Singapore) on Monday sought crude for May-to-June delivery, company documentation seen by Bloomberg shows. While Sinochem didn’t say why it had excluded Rosneft Oil Co.

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