Probes and squeezed profits change the oil trading game
For the world’s biggest oil traders, it feels like a return to the 1980s when earnings were diluted by an abundance of crude. After three decades of stellar expansion and Continue Reading
Faltering Factories Cast a Dark Cloud Over the Global Economy
Europe has suffered the sharpest turnaround, and there is little relief in sight, according to a June survey of purchasing managers conducted by data firm IHS Markit that was released Continue Reading
Gulf oil producers to maintain output within OPEC target in July: sources
Gulf OPEC producers will keep their July oil production within their OPEC target despite the current global supply cut pact expiring at end of June, OPEC sources said on Thursday, Continue Reading
Exclusive: Exxon’s $53 billion Iraq deal hit by contract snags, Iran tensions – sources
Just weeks ago, U.S. energy giant ExxonMobil looked poised to move ahead with a $53 billion project to boost Iraq’s oil output at its southern fields, a milestone in the Continue Reading
This Is How The U.S. Plans To Cripple Iran’s Economy
With sanctions re-imposed on Iran’s oil exports last year and recently applied in part to its petrochemicals exports as well, the U.S. is now looking to roll out the next Continue Reading
Saudi Aramco allows sneak peek into its finances
The world’s focus, not surprisingly, has been on Saudi Aramco’s $111bn of net income recorded in 2018, making it the most profitable company in the world. But elements of the Continue Reading
Chennai water: How India’s sixth biggest city is coping with shortages
Many residents have been told to work from home in a bid to conserve water People fighting in queues for water, many unable to take showers, and hotels warning people Continue Reading
India Looks To Russian Crude As Iranian Imports Crash
India and Russia continue to bolster their energy cooperation, and now India is looking at ways to establish oil shipping routes from Russia’s Far East India’s east coast, India’s Oil Continue Reading
Mexico’s Pemex to stick to areas it knows best, pass on deepwater: CFO
Petroleos Mexicanos will focus on shallow water projects and onshore plays, and avoid investing in its deepwater riches for now, as the ailing Mexican state-run oil company seeks to turn Continue Reading
Fallen angel? Pemex’s wings clipped by the bond market
Mexico’s state oil producer Pemex is on the brink of making history as the global bond market’s largest “fallen angel” ever, but in the eyes of the fixed-income world, the Continue Reading