Aramco’s Next Plan To Raise Billions Of Dollars
The Aramco IPO may now be history, put on indefinite hold several weeks ago, but Saudi Arabia’s funding needs have never been greater. As a result, 32-year-old Crown Prince Mohammed Continue Reading
Unladen Saudi VLCC crosses Bab el-Mandeb despite temporary halt
An unladen Saudi-owned VLCC crossed the key Bab el-Mandeb strait over the weekend, a few days after the kingdom temporarily halted all its oil shipments through the southern tip of Continue Reading
Saudi VLCCs gather off Oman after Bab el-Mandeb ban
London — Saudi-owned VLCCs have started to gather off the southern coast of Oman after state-owned Saudi Aramco temporarily halted oil shipments through the Bab el-Mandeb strait at the bottom Continue Reading
‘Enemies’ destroying Iran’s economy, central bank chief says
The head of the Iranian central bank said it was monitoring the swift devaluation of its currency, the rial, as U.S. economic pressure on the country mounts. “Enemies are out Continue Reading
Iran’s Rial at Historic Low as U.S. Sanctions Loom
Iran’s local currency hit another record low against the U.S. dollar Monday, extending a historic slide on concerns about new American sanctions due to be imposed next week. Scrambling to Continue Reading
Trump offers to meet Iran leaders without preconditions
President Donald Trump said on Monday he was willing to meet the leaders of Iran without any preconditions, opening the door to possible negotiations with the Tehran regime just months Continue Reading
India Cuts June Oil Purchases From Iran On U.S. Sanctions
As U.S. sanctions on Iran are about to kick in later this year, Indian oil refiners reduced their orders for Iranian crude oil in June by 12 percent compared to Continue Reading
Nigeria’s Refining Demand May Stretch Oil Production
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has suggested that upcoming petroleum refining plants in Nigeria could place a lot of demand on the country’s oil production Continue Reading
Nigeria: NNPC Records N240bn Loss in 13-Month Petrol Supplies
Between March 2017 and March 2018, a period of 13 months, the Nigerian National Petroleum Corporation (NNPC) incurred a loss of N240,304,755,518 as under-recovered expenditure in importing petrol at the Continue Reading
LNG Prices Soar As Heatwave Hits Eastern Asia
Japan, known for its aversion to using oil for power generation, has had little choice but to ramp up its usage of the dirtier burning hydrocarbon amid a deadly heatwave Continue Reading