Oil Firms Among Worst Hit As Wave Of Bankruptcies Hits Texas

Oil and gas companies, as well as the retail industry, are the worst hit sectors in the COVID-19 pandemic that swept through businesses in Texas, bankruptcy and restructuring lawyers say. According to data provided exclusively to The Texas Lawbook by Androvett Legal Media research, more than 545 companies of all sectors in Texas filed for Chapter 11 protection from creditors…

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Belgrade waste-to-energy project progresses despite pandemic

The Belgrade waste-to-energy project in Vinča, which will provide the 1.7 million inhabitants of the Serbian capital with a modern waste management system, has reached financial close. As all the conditions of the financing agreement have now been fulfilled, lenders are starting loan disbursements to support the timely implementation of the project. The new facility will replace Europe’s largest unmanaged…

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China’s ‘hermit’ investors fill doubled oil storage with crude bet

SINGAPORE/SHANGHAI (Reuters) – Chinese financial investors betting on a rebound in oil prices are filling commercial storage tanks held by the Shanghai futures exchange just as fast as the exchange can find them. Despite a more than doubling of storage capacity over the past six weeks to 57 million barrels, with tanks sourced from state and private refiners, nearly all…

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Qatar pushing ahead with LNG expansion despite slumping demand

Qatar is forging ahead with the expansion of the world’s largest liquefied natural gasproject and eyeing investment opportunities overseas despite a slump in global energydemand and the collapse of oil prices.Saad al-Kaabi, the country’s energy minister and chief executive of Qatar Petroleum,said commercial bids for the project in the North Field, the planet’s biggest naturalgasfield, would be delayed because of…

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Chinese Hedge Funds Are Betting Big On An Oil Price Recovery

Little-known Chinese hedge funds are betting big on an oil price recovery on the Shanghai-traded yuan-denominated oil futures and are set to fill up all available storage for delivery of those futures by the end of next month, industry sources told Reuters on Monday. The financial investors—hedge funds backed by rich individuals—are dubbed ‘hermit’ investors by a state oil official,…

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First Iranian Tanker Docks At Venezuelan Refinery, Second Tanker Approaching

An Iranian tanker carrying 43 million liters (11.3 million gallolns) of gasoline to fuel-starved Venezuela has arrived at El Palito, Venezuela, TankerTrackers reported on Monday. In a tweet on Monday morning TankerTrackers.com said Fortune which loaded 43 million liters of gasoline in mid-March at Shahid Rajaee Port in the Persian Gulf had docked at the refinery of El Palito, Venezuela,…

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