Bloomberg US oil giant Chevron Corp posted its worst quarterly loss in at least three decades and warned that the global pandemic wreaking havoc upon energy markets may continue to drag on earnings. Chevron fully erased the value of its Venezuela operations from its books, amounting to $2.6 billion, after they were effectively frozen by US sanctions, and wrote down …

Bloomberg The liquefied natural gas market contracted a third month in July as countries continue to struggle with the economic fallout from the coronavirus pandemic. Global exports of the fuel last month dropped 9.4% from the previous year, the steepest year-over-year decline since at least December 2017, according to ship-tracking data compiled by Bloomberg. The biggest cuts came from the …

Bloomberg Exxon Mobil Corp is ripping up its debt-fuelled, $30 billion-a-year plan to rebuild an aging worldwide portfolio after cash flow evaporated and threatened the company’s vaunted dividend. The shift by the Western world’s premier oil explorer represents an about-face after more than two years of doing pretty much the opposite of the its biggest rivals, who have been shrinking …