Oil Down on Limited Trading
Oil extended losses after Saudi Arabia cut crude prices for Asian buyers, raising the prospect of fierce competition among sellers as the resurgence of Covid-19 continues to cloud the demand Continue Reading
OPEC+ keen to keep oil prices at $65-$75 a barrel, Lukoil chief says
The head of Russia’s No. 2 oil producer Lukoil (LKOH.MM) said that oil prices of $65-$75 were “comfortable” for consumers and that the OPEC+ group of leading oil-producing nations was Continue Reading
Saudi Arabia slashes crude prices to Asia; US, Europe prices steady
Saudi Arabia, the world’s top oil exporter, slashed prices of all crude grades to Asian customers in October versus September, but left prices to northwestern Europe and the United States Continue Reading
Libya Oil Minister Says NOC Head’s Suspension Still Valid
Libya ’s oil ministry said Monday the decision to suspend the head of the state-run national oil company was still valid, potentially setting the stage for renewed tensions hours after Continue Reading
Libya’s Oil Industry May Be On The Verge Of Another Breakdown
With its crude oil production already the subject of various ongoing political divisions since the onset of civil war in 2011, another rift has opened up, this time between Libya’s Continue Reading
Ecuador Looks To Double Its Oil Production
The oil-dependent South American country Ecuador, which left OPEC in January 2020 to avoid production quotas, has embarked on an ambitious plan to double its oil output. The tiny Andean Continue Reading
BP, Macquarie study green hydrogen hub concept in Western Australia
BP Plc (BP.L) said on Tuesday it was conducting a joint feasibility study with Australian lender Macquarie Group (MQG.AX) to produce green hydrogen at the oil giant’s former refinery site Continue Reading
Toyota Spending $13.7 Billion to Secure EV Battery Supplies
Toyota Motor Corp. plans to spend 1.5 trillion yen ($13.7 billion) on the supply and development of batteries for hybrid and electric vehicles by 2030, joining other global automakers boosting Continue Reading
Hyundai targets hydrogen fuel cells in all commercial vehicles by 2028
Hyundai Motor Group is aiming to become the world’s first automaker to power all its commercial vehicle models with fuel cell systems by 2028 as it seeks to popularise hydrogen Continue Reading
Over 80% of oil output in Gulf of Mexico still offline a week after Ida
Oil rigs are seen in the Gulf of Mexico after Hurricane Ida made landfall in Louisiana, in Grand Isle, Louisiana, U.S. August 31, 2021. REUTERS/Marco Bello/File Photo NEW YORK, Sept Continue Reading