The threat of new COVID-19 restrictions in economies around the world pushed the gold price to its lowest point in nearly two months yesterday, as part of a wider sell-off seen across global stock markets. US gold futures fell by 3.9% to US$1,885.40 per ounce on...
BP has declared that global oil demand may never exceed the level reached in 2019, following the impact of the COVID-19 pandemic this year and an acceleration in the green energy transition. In its annual Energy Outlook report, BP said that ‘peak oil’ may have been...
The oil market slipped yesterday after the International Energy Agency (IEA) lowered its demand prediction for the rest of the year and 2021, based on a surge in new cases of COVID-19 globally. In its latest monthly report, the energy body reduced its 2020 demand forecast...
The total value of mining sector mergers and acquisitions (M&A) deals in the second quarter of 2020 increased by 29.1% on the previous quarter to US$8.86 billion, according to a recent GlobalData report. However, this figure for the COVID-19-impacted quarter does represent a 14.4% decline when...
Russia is on track to surpass China as the world’s top producer of gold by the end of the decade, according to a new report by Fitch Solutions Country Risk & Industry Research. Despite some short-term disruptions caused by the COVID-19 pandemic, Russia will achieve average...
Saudi Aramco has reported a 73% plunge in profit for the second quarter of 2020, when the COVID-19 pandemic precipitated a collapse in demand for oil as economies around the world went into lockdown. However, the Saudi state-owned energy giant maintains it will pay out US$75...
BP has cut its prized investor dividend in half after reporting a record US$6.7 billion loss in the second quarter of the year, when the COVID-19 pandemic destroyed fuel demand and oil prices. On Tuesday, the British oil major announced that it will "reset" its shareholder...
Total has announced it will take an US$8 billon impairment on the value of its assets, mainly in carbon-intensive oil sands projects, following the collapse in oil demand earlier this year during the COVID-19 crisis. The French energy major slashed its oil and gas price outlook,...
The gold price soared to an all-time high yesterday amid a fresh wave of investor concerns relating to the COVID-19 pandemic and worsening relations between the US and China. Spot gold rose to reach US$1,945.10 per ounce, surpassing the previous high set in September 2011 and...
Chevron has confirmed it will buy diversified energy firm Noble Energy in a deal that represents the first major outlay in the oil sector since the COVID-19 crisis destroyed fuel demand and sent prices to record lows. The all-stock transaction is valued at US$5 billion, under...