Economics/Statistics
News
July 07, 2021
The state-controlled firm created a new team to review its assets last year, soon after the coronavirus pandemic triggered a plunge in energy prices and strained its balance sheet. Aramco raised $12.4 billion by selling leasing rights over oil pipelines to a U.S.-led group of investors in April.
News
July 07, 2021
Texas Governor Greg Abbott is pushing regulators to strengthen incentives for fossil fuel and nuclear power generators in an effort to avoid a repeat of deadly blackouts seen this winter.
News
July 07, 2021
Favorable hedge positions represent the biggest test yet of shale’s newfound resolve to act with discipline and focus on investor returns, and avoid a return to the relentless pursuit of growth.
News
July 06, 2021
The Biden administration is urging OPEC and its allies to find a compromise solution to increase oil production, according to White House officials familiar with the discussions.
News
July 06, 2021
Oil jumped to the highest in more than six years after a bitter fight between Saudi Arabia and the United Arab Emirates plunged OPEC+ into crisis and blocked a supply increase.
News
July 05, 2021
OPEC+ fails to strike a deal, abandoning its planned meeting and leaving the oil market facing much tighter supplies than had been expected.
News
July 05, 2021
BP Plc and Russia’s Lukoil PJSC want to sell down their assets in Iraq, according to the country’s oil minister.
News
July 05, 2021
The group’s oil ministers were unable to reach a compromise, keeping current production limits in place for August and depriving the market from the extra barrels it needs as demand recovers from the pandemic.
News
July 02, 2021
A high-stakes game of oil diplomacy pits Saudi Arabia against long-time ally Abu Dhabi. And the result of their fight will shape not just the price of oil for the next year, but the future of the global energy industry.
News
July 02, 2021
The world’s largest independent oil trader expects crude’s rally to continue on the assumption any OPEC+ output hikes will fail to keep pace with growth in demand.
News
July 02, 2021
TC Energy will be seeking to recover more than US$15 billion in damages that it has suffered as a result of the U.S. Government’s breach of its North American Free Trade Agreement (NAFTA) obligations, the company said in a statement.
News
July 02, 2021
By ensuring an enabling environment for investors backed by a transparent and strengthened regulatory framework, the Petroleum Industry Bill will present significant investment opportunities for both regional and international stakeholders.
News
July 01, 2021
Saudi Arabia and Russia have a tentative deal to gradually increase OPEC+ oil output in the coming months, delegates said. The proposal under discussion would add about 2 million barrels a day to the cartel’s output from August to December.
News
June 29, 2021
Oil erased earlier losses with the market looking for its next direction from an OPEC+ meeting this week and the spread of the delta variant of Covid-19.
News
June 28, 2021
Eni SpA and Vitol Group could lose a share of the proceeds from their offshore oil field in Ghana after resisting a government order to merge their asset with a domestic company’s neighboring field.
News
June 28, 2021
Physical oil markets are screaming for more supply. Prices are rising in the North Sea, the key region that’s central to the value of many oil transactions, while differentials for Nigerian grades have also made notable gains.
News
June 23, 2021
Saudi Arabia’s Energy Minister said the OPEC+ alliance has a role in “taming and containing” inflationary pressures, just hours after Brent crude surged back above $75 a barrel.
News
June 22, 2021
A key spread between monthly oil futures contracts has blown out to the widest level in seven years as traders bet that U.S. crude inventories are about to get a whole lot tighter.
News
June 21, 2021
Oil held near $72 a barrel as inconclusive nuclear talks between world powers and Iran -- which has elected a new hardline president -- allayed prospects for a swift revival of the Islamic Republic’s crude exports.
News
June 21, 2021
Global oil consumption will continue to outstrip supply in 2022 as the economic recovery from the pandemic boosts fuel consumption, while investment in new crude production is crimped by environmental concerns, the bank said in a report.
News
June 21, 2021
President Joe Biden’s administration rejected Nicolas Maduro’s call for relief from U.S. sanctions, saying the Venezuelan leader needs to do more toward restoring democracy before penalties would be lifted.
