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Chile state miner Codelco sees first-quarter profits in free fall

World top copper producer Codelco saw profits plunge 85% in the first quarter of 2020, the company said on Friday, ravaged by the falling price of the red metal amid the global coronavirus pandemic.

Turkey says may begin oil exploration under Libya deal in three-four months

Turkey may begin oil exploration in the eastern Mediterranean within three or four months under a deal it signed with Libya that was condemned by others in the region including Greece, Energy Minister Fatih Donmez said on Friday.

Exclusive: U.S. warns governments, firms against aiding Iran fuel shipments to Venezuela - envoy

Seeking to deter further shipments of Iranian fuel to Venezuela, the Trump administration has quietly warned foreign governments, seaports, shipping companies and insurers that they could face stiff U.S. sanctions if they aid the tanker flotilla, the U.S. envoy on Venezuela...

Sale of shut Philly refinery to real estate developer delayed

The closing of a $252 million sale of the Philadelphia Energy Solutions (PES) oil refinery to a Chicago-based real estate developer has been delayed, a city official and source with knowledge of the agreement said on Friday.

Latest News

Mexican regulator approves new power rates amid public dispute

Mexico's energy regulator has approved new rates that electricity providers must pay the national power utility for transmission, it said late on Thursday, as a dispute rumbles on between the private sector and government over industry rule changes.

Court ruling in Keystone XL case another blow to big U.S. pipelines, say energy analysts

The two biggest U.S. natural gas pipelines under construction are likely facing more delays after an appeals court ruling against the Army Corps of Engineers, energy analysts said.

Exxon restarts large CDU at Beaumont, Texas, refinery: sources

Exxon Mobil Corp restarted on Friday the large crude distillation unit (CDU) at its 369,024 barrel-per-day (bpd) Beaumont, Texas, refinery, said sources familiar with plant operations.

Shell Norco, La. refinery CDU malfunction triggers multi-unit outage: sources

A crude distillation unit (CDU) malfunction triggered a multi-unit outage early on Friday at Royal Dutch Shell Plc’s 225,300 barrel-per-day (bpd) Norco, Louisiana, refinery.

Tullow Oil says 58 workers test positive for COVID-19 offshore Ghana

Fifty-eight workers tested positive for COVID-19 at an oil production facility run by Tullow Oil off Ghana's Atlantic coast, the company said in a statement on Friday.

After long battle, Ukraine plans to privatise power producer Centrenergo next year

Ukraine will privatise the thermal power producer Centrenergo in the second quarter of 2021 after finally succeeding in changing the company's management amid bomb threats and a legal battle, the head of the State Property Fund told Reuters on Friday.

Los Angeles union, joined by 'Pandemic Pig,' demands meatpacking plant closure

The union representing workers at a meatpacking plant near Los Angeles where at least 153 employees have come down with COVID-19 called on Thursday for the plant's immediate closure, saying measures to control the outbreak were not working.

Belgium expands investigation into Trafigura's zinc firm Nyrstar

Belgium's Financial Services and Markets Authority (FSMA) has expanded an investigation it started in September into zinc group Nyrstar, which is now owned by commodities trader Trafigura, the regulator said on Friday.

U.S./Canadian oil & gas rig count falls to record low: Baker Hughes

U.S. and Canadian energy firms cut the number of oil and natural gas rigs operating to a record low as they slash spending on new drilling after global coronavirus lockdowns caused energy prices and demand to collapse.

In northern Brazil, iron ore keeps flowing as Vale miners battle coronavirus

In late April, Evaldo Fidelis, a 35-year-old tractor operator at Vale SA's massive iron ore mine in northern Brazil, came down with a dry cough.

Total needs to cover $12 billion shortfall due to crisis: CEO

French energy major Total now faces a revenue shortfall of at least $12 billion due to the crash in oil prices, CEO Patrick Pouyanne said on Friday, a third higher than its previous forecast made two months ago.

Occidental Petroleum holders elect board, increase shares and authorize Berkshire warrants

Occidental Petroleum Corp shareholders on Friday elected all 11 directors, approved the issue of new shares and warrants and a poison-pill measure, the first shareholder votes on last year's $38-billion acquisition of Anadarko Petroleum.

Indonesia keeps palm oil, cocoa export taxes unchanged for June

Indonesia will keep its export tax for crude palm oil at zero for a third month in June, the country's trade ministry said in a statement on Friday.

Column: U.S. crude stocks swell as tankers from Saudi Arabia unload - Kemp

U.S. petroleum inventories increased sharply last week as the fleet of tankers sent from Saudi Arabia at the height of the volume war started to discharge their crude while the recovery in domestic fuel use remained sluggish.

Gold M&A back on the agenda as coronavirus restrictions ease

A lull in corporate takeover activity among gold miners is expected to end as new coronavirus-linked travel restrictions are lifted in coming months, clearing the way for prospective buyers, industry executives and fund managers said.

Brazil's Vale says reversed order to shut Itabira issued by labor authorities

Brazilian mining company Vale SA said in a securities filing on Friday that its Itabira iron ore mining site was ordered shut under an order from the labor authorities, but that it was able to immediately reverse that order after obtaining a favorable court injunction.

Parched Parana River likely to hit Argentine grain exports through September

(This May 28 story corrects to remove reference to COFCO as the owner of the grounded ship in paragraphh 6)

United States Oil Fund faces probes into risk disclosures to investors: Bloomberg

United States Oil Fund LP, the country's largest crude exchange-traded fund, is being investigated by U.S. regulators over whether its risks were properly disclosed to investors, Bloomberg reported on Friday.

OPEC delivers three quarters of record oil cut in May: survey

OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey found, although Nigeria and Iraq are laggards in making their share of the reduction.

Drought adds to Belgian farmers' coronavirus misery

As coronavirus lockdowns disrupt food supply chains and shuttered restaurants curb demand for some of their produce, Belgium's farmers are grappling with another crisis - drought.

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