Moody’s cut the credit ratings of Chevron and Royal Dutch Shell by one notch, and cut the credit rating of French oil giant Total by two levels. Both Chevron and Shell were downgraded to Aa2 from Aa1. Moody’s cut Total’s rating from Aa1 to Aa3. Source: OilPrice
Sections of 24 blocks outlined in the Turkish Government Gazette on May 30 stemming from the contentious maritime borders agreement signed last November between Turkey and the Tripoli-based government in Libya come within or beyond 6 nautical miles of the coasts of eastern Crete, Kasos, Karpathos and Rhodes, and overlap the Greek continental shelf. Source Ekathimerini
French carmaker Renault said on Friday it was launching talks with unions to restructure some plants and potentially close others as it confirmed plans to cut around 15,000 jobs worldwide to ride out a slump in sales. Source France 24
More than 3 million Americans applied for unemployment benefits last week, raising to more than 42 million the number of workers who have lost jobs since the coronavirus crippled the economy. Source CBSNews
