The spread of the novel coronavirus has impacted the entire global economy, devastating economic sectors from foodservice and hospitality to energy. In response to this economically fraught moment as we linger on the precipice of a yearslong recession, some developing countries are taking a “politically perilous” task by removing limits and subsidies on gas and electricity prices.

Norway has opened two areas for offshore wind power developments in the North Sea, including one along its maritime border with Denmark, the energy ministry said on Friday.

Per Canada’s CBC News, a report this week has stoked some optimism in the Newfoundland and Labrador oil and gas sector, with a description of another “potentially commercial discovery” in the Flemish Pass Basin.

Iraq has asked BP to cut crude production at the nation’s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not to be identified as the matter is private.

A multi-million pound fund has been set up to help the energy sector recover from the dual economic impacts of coronavirus (COVID-19) and the oil and gas price crash.

Saudi Arabia reduced the amount of crude it will supply next month to seven refiners in Asia after OPEC+ agreed to extend its historic output cuts through July.

Baker Hughes announced the completion of the First Engine to Test (FETT) for the LM9000 aeroderivative gas turbine. The test took place at the company’s advanced turbomachinery testing facilities in Florence and Massa, Italy.

Norway's parliament has agreed to give additional tax breaks to the oil industry on top of those proposed by the minority government in a bid to spur investment and protect jobs, the ruling Conservative Party said on Monday.

The Trump administration is preparing sanctions on as many as 50 oil and fuel tankers as part of an effort to cut off trade between Iran and Venezuela, according to a person familiar with the matter.

The world’s largest independent oil trader, privately-held Vitol, saw its net profit collapse by 70 percent in the first quarter of 2020, as the coronavirus pandemic and the plunging oil demand and prices took its toll on oil trade, the Financial Times reported on Tuesday, citing figures it has seen.