Tag Archives: world largest

Aramco rises in times of crisis

Aramco rises in times of crisis Despite all the challenges such as oil price volatility, uncertainty caused by the ongoing Russian-Ukrainian crisis and the economic slowdown resulting from the pandemic, Saudi Aramco remains among the top performers in the energy league. The oil giant’s performance is evident in its 2021 …

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Ukraine crisis: Amid concerns over rising crude oil prices, farmers in Punjab stock up on fuel

As the Russian-Ukrainian conflict raises concerns over soaring crude oil prices, farmers in Punjab stock up on fuel for the upcoming wheat harvest season. Long lines of tractors, with fuel storage tanks, were seen at petrol stations in rural areas of the southern region of Malwa on Saturday. Russia and …

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Commodities Rise as Russia Invades Ukraine: Major Oil, Aluminum, Palladium and Nickel Price Spikes

Editor’s Note: With such volatility in the markets, stay up to date with daily news! Get our quick roundup of today’s must-see news and expert opinion in minutes. Register here ! (Kitco News) – In a highly volatile session following Russia’s attack on Ukraine, the commodities sector surged, …

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Saudi Arabia denounces short-sighted campaign against oil

The world’s biggest oil exporter, Saudi Arabia, has repeatedly said it wants to be the producer that pumps out the very last barrel of oil. In the meantime, the world and its growing economy will still need oil and gas, even as renewable energy capacity soars globally. The rebound of …

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How a Russian-Ukrainian conflict could affect global markets. 5 points

Below are five charts showing where a potential escalation in tensions could play out in global markets: 1/SHELTERS A major risk event usually sees investors rush into bonds, generally considered the safest assets, and this time may be no different, although a Russian invasion of Ukraine is likely to push …

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Saudi Arabia transfers $80 billion worth of Aramco shares to state fund

A 3D printed gas pipeline is placed in front of the Saudi Aramco logo displayed in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register DUBAI, Feb 13 (Reuters) – Saudi Crown Prince Mohammed bin Salman has transferred 4% of Saudi Aramco …

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Putin unveils new gas deal with China’s Xi as Moscow clashes with West

Russia, already Beijing’s third-largest gas supplier, has strengthened its ties with China, the world’s largest energy consumer, reducing its dependence on its traditional European energy customers. “Our tankers have prepared very good new solutions on hydrocarbon supply to the People’s Republic of China,” Putin said during a meeting with Xi …

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Saudi Aramco CEO says energy transition ‘not going smoothly’

Saudi Arabia, the world’s largest oil exporter, aims to achieve net-zero greenhouse gas emissions by 2060 DUBAI, United Arab Emirates – Saudi Aramco Chief Executive Amin Nasser said on Thursday (January 27th) oil and gas investments are needed to accompany new energy investments until they can realistically sustain the increase …

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High food prices dash India’s hopes of cutting cooking oil imports

Consumption is expected to rise in India by 17% over the next four years, according to BV Mehta, executive director of the Solvent Extractors’ Association. Such a steep rise would further widen the manufacturing gap: India is likely to produce around 10 million tonnes of edible oils in 2021-22, against …

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Oil may rise as Putin approaches Ukraine

Mike Waltz, R-Fla., speaks on Biden’s cancellation of U.S. pipelines and growing tensions at the Russia-Ukraine border. As Russian President Vladimir Putin moves closer to Ukraine, global energy markets face a potentially seismic event threatening a global economic downturn. Teleprinter Security Last Change Change % USO US OIL FUND LP …

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Eastern Europe has a bitcoin problem

As Europe continues to grapple with an energy crisis caused by skyrocketing demand for liquefied natural gas, a tight global energy supply, and Putin keeping pipelines at low capacity as gas-rich Russia gains political ground, Another sleeping giant has emerged to become a huge and surprising obstacle to the continent’s …

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Geopolitical risks to watch this winter

By Editorial Dept – January 14, 2022, 12:30 PM CST A single attack on oil at this point could push prices up to $90, but that will depend on where it is. Markets will weigh more heavily on some geopolitical sentiments than others. And there’s plenty to choose from right …

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OPEC Plus and other oil producers fail to meet demand

Nearly two years ago, global oil producers halted and drastically reduced production as the pandemic gripped global economies. The sharp decline was accompanied by an implicit promise that as factories reopen and planes return to the air, the oil industry will also rebound, gradually ramping up production to help economies …

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Aramco gains a foothold in Russia’s backyard with Polish oil deal | OPEC News

Aramco, the world’s largest oil company, will buy 30% of a refinery on the Baltic coast, as well as a wholesale unit of fuel. Through Anthony Di Paola and Maciej MartewiczBloomberg Posted on January 12, 2022Jan 12, 2022 Saudi Aramco‘s deal to supply nearly half of Poland’s oil will give …

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Dividends recover for Saudi Arabia’s 10 biggest companies after pandemic

LONDON: Greta Thunberg’s bitter sacking of world leaders for their promises to fight global warming as ‘blah, blah, blah’ was not what it turned out, too far off target in 2021. Despite serious commitments from Washington to Beijing to reduce fossil fuel consumption and reduce global heating emissions, demand for …

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Lukoil and Gazprom Neft Sign Almost $ 700 Million Agreement | Rigzone

PJSC Lukoil announced that it and PJSC Gazprom Neft have entered into a sale and purchase agreement for a 50% stake in Meretoyakhaneftegaz LLC, which is a 100% subsidiary of Gazprom Neft. The transaction is worth $ 695.2 million (RUB 52 billion), including the assignment of debt from Gazprom Neft …

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SOUTH KOREA DATA: November crude imports increase but short-term throughput is under pressure

Strong points First quarter spot crude purchases expected to drop amid fragile demand U.S. crude imports increase year-over-year for 8th consecutive month Refiners continue to find Middle East crude prices expensive South Korea’s crude oil imports in November were up 14.2% from a year earlier, as local refiners increased their …

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Oil prices post their biggest weekly increase since August

The general view shows the Cadereyta refinery of the Mexican state oil company Pemex, in Cadereyta, on the outskirts of Monterrey, Mexico, on April 20, 2020. REUTERS / Daniel Becerril / File Photo Register now for FREE and unlimited access to reuters.com Register Brent and WTI post biggest gains in …

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World’s Biggest Banks Back Fossil Fuels As Climate Pressure Rises

Through Nicholas Comfort and Steven Arons to 12/06/2021 (Bloomberg) –With barely dry ink on a historic commitment by the financial sector to tackle climate change, the world’s biggest banks are making it clear that they plan to back their customers with fossil fuels. Take JPMorgan Chase & Co., the leading …

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Oil-producing countries sell billions of green bonds

It wasn’t that long ago that green investing was associated with a warm moral glow, but it wasn’t the mainstream – not by far. However, growing climate awareness, growing policy change, and investors demanding environmentally and socially conscious options are transforming this, and while this is still not mainstream, it …

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US wants more oil, but OPEC + can’t turn on the tap much harder

LONDON: US pressure on OPEC + to pump more oil and cool scorching crude prices has highlighted a relatively new problem for the producer group: it doesn’t have much extra capacity to ramp up production faster , even if he wanted to. The Organization of the Petroleum Exporting Countries and …

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Saudi women’s rights activist who found freedom and horror on the internet

Born into a devout Muslim family in Saudi Arabia, Manal al-Sharif spent her childhood feeling that women were second-class citizens. In her small world, every piece of information she encountered was carefully organized, censored in such a way as to crush any spirit of rebellion. Thanks to the Internet, which …

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The contours of Russia’s energy exports are defensible | Seen

OPEC and Russia last week stood up to the Biden administration’s efforts to curb rising oil production from the world’s largest producers in the face of rising global energy prices. Russian hawks have cried foul, drawing parallels with gas exports from Russia, where it is argued that the Kremlin is …

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Oil prices fall amid rising gas prices in Europe: energy market closes

RIYAD: Bitcoin and Ether, the world’s two largest cryptocurrencies, were weak on Wednesday and at near critical levels that analysts say could mean further weakness if they fall further. While profit taking after the massive price hike earlier in the month emerged as the most important factor, analysts pointed to …

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Saudi Arabia denies playing climate saboteur in Glasgow

GLASGOW, Scotland: The tightest of smiles on his face and the fabric of his traditional thobe swirling around him as he walks through a hallway during UN climate talks, the Saudi Energy Minister voices his shock at repeated complaints that the world’s largest oil producer is working behind the scenes …

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Updates from COP26 as the climate summit enters its second week in Glasgow

Our blog closes for the day, see you tomorrow As former US President Barack Obama continues to address delegates to the COP26 summit, our live blog ends for today. See you tomorrow and thank you for following our updates. – Holly ellyatt 9:15 am: Former US President Obama Says “Time …

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COP26: United States joins 90 countries in pledging to reduce methane emissions; Coal deal with South Africa announced

President Biden and other world leaders have left Glasgow and the UN climate summit as the third day kicks off closed-door negotiations on how to tackle the climate catastrophe. On Tuesday, 90 countries agreed to reduce their methane emissions by 30% by 2030. It is Biden who announces the commitments …

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Saudi Aramco Sees Revenue Increase to $ 30.4 Billion in Third Quarter | WJHL

through: ISABEL DEBRE, Associated Press Posted: Oct 31, 2021 / 6:53 AM EDT / Update: Oct 31, 2021 / 6:53 AM EDT FILE – In this file photo from June 28, 2021, engineers and journalists at Saudi Aramco examine the Hawiyah natural gas liquids recovery plant, which is designed to …

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Saudi Arabia orders Lebanese ambassador to leave the kingdom

BEIRUT (AP) – Saudi Arabia on Friday ordered Lebanon’s ambassador to the kingdom to leave the country within 48 hours and halted all imports from Lebanon, in response to comments from a Lebanese minister who called the war in Yemen a Saudi “aggression”. Hours later, the Kingdom of Bahrain ordered …

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Refining margins hit multi-year high

Refining margins, the crack spread of Nymex gasoline, were trading above $ 16 a barrel on Thursday, their highest level since 2017, Bloomberg said Thursday. The crack spread is the difference between the price of crude oil and the price of refined products, which include gasoline, distillates, diesel, and jet …

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What is behind Saudi Arabia’s pivot to natural gas?

Saudi Aramco’s request for bids from local and international companies for the construction of a water desalination plant project in the Jafurah shale gas field highlights the Kingdom’s claims to be at the forefront of the global energy transition to cleaner energy through reduced carbon emissions. As with many of …

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Oil Prices Extend Gains to Multi-Year Highs Due to Tight Supply

Crude oil storage tanks are seen from above at the Cushing Oil Hub in Cushing, Oklahoma, USA, March 24, 2016. REUTERS / Nick Oxford WTI reaches its highest level since October 2014, Brent reaches its highest level in 3 years Speculators increase their net long positions in US crude -CFTC …

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Saudi Arabia, leading oil exporter, targets net zero emissions by 2060

Dual objective of reducing carbon emissions Saudi initiative for an investment of 187 billion dollars Fight against climate change while ensuring the stability of the oil market Could reach target before 2060, according to Minister of Energy RIYAD, October 23 (Reuters) – The Crown Prince of Saudi Arabia said on …

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bne IntelliNews – bneGREEN: Russia will become carbon neutral by 2060

Russian President Vladimir Putin set the goal of carbon neutrality by 2060 during comments in his speech to the Russian Energy Week plenary on October 13. “In practice, Russia will strive to achieve carbon neutrality in its economy,” he told delegates. “And we set a benchmark for this – no …

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Oil is stable as soaring electric fuel prices offsets concerns over crude demand

A gas station attendant prepares to refuel a car in Rome, Italy, January 4, 2012. REUTERS / Max Rossi IMF slashes growth prospects for major economies China’s crude imports in September fall 15% year-on-year – data U.S. Gasoline Futures On Track For Higher Close Since October 2014 Market expects API …

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Covid at center of global energy crisis, but cascade of problems fuel it

LONDON – Much of the world is suffering from a severe energy crisis. Homes and factories across China are in darkness. India’s coal-fired power plants are scrapped. Dozens of UK utility companies have gone bankrupt. Spain announced emergency legislation after household utility bills rose by more than a third in …

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Saudi non-oil private sector growth reaches its highest level in 7 years

Saudi Gazette report RIYAD – According to a survey by the Information Processing Services (IHS) Market. IHS Markit is a global information provider. A purchasing managers index compiled by IHS Markit rose to 58.6 in September from 54.1 the previous month, the largest monthly point gain on record. The 4.5 …

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Oil and gas prices could remain high as investors seek clean energy

HOUSTON – Americans are spending a dollar more on a gallon of gasoline than they were a year ago. Natural gas prices have climbed more than 150% over the same period, threatening to increase the prices of food, chemicals, plastics and heating this winter. The energy system is suddenly in …

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Gulf economies explode in 2021

Last year, in the throes of the energy crisis, the Gulf countries led by Saudi Arabia have consistently touted the strength of their economies, claiming they could withstand any scale of shocks. But the truth is that most of the Gulf economies were in dire straits due to their excessive …

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Oil Prices Impact USDINR Movement: Myth or Reality?

The USDINR remained volatile throughout the week as it continued to track the US dollar index under low risk market conditions. After opening at 73.68, the pair traded between 73.61 and 74.36 before ending the week at 74.12. The dollar index has moved closer to a one-year high amid rate …

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ADNOC Drilling begins trading with a market cap of $ 10 billion

FILE PHOTO: Electronic signs displaying stock information are seen as an investor walking past the ADX Abu Dhabi Securities Exchange on May 16, 2012. REUTERS / Ben Job / File Photo DUBAI (Reuters) – Abu Dhabi National Oil Company (ADNOC) to list its drilling unit in a $ 1.1 billion …

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Reliance creates a subsidiary in the United Arab Emirates for the oil trade

MUMBAI (Reuters) – Reliance Industries said on Saturday it had established a wholly-owned subsidiary in the United Arab Emirates (UAE) to trade crude oil, petroleum, petrochemicals and agricultural commodities. Reliance International Ltd (RINL), the new subsidiary, has yet to start operations, the parent company said in an exchange document, adding …

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Aeroflot group figures show traffic at 89% of 2019 levels

As the recovery of air transport gains ground around the world, the pace of this process in Russia is exceeding the world average. The main driver of the recovery is certainly the domestic sector, as international connections are still limited by the restrictions linked to the pandemic. The size of …

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Saudi Arabia sees state coffers fill up next year due to soaring oil prices | Oil and Gas News

Saudi Arabia is raising its revenue forecast for next year as oil prices soar amid a global energy crisis. Through Vivian Nereim and Matthew MartinBloomberg Saudi Arabia has raised its revenue expectations for next year and plans to reduce its budget deficit to 1.6% of economic output as rising oil …

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OPEC + sticks to November production plans despite $ 80 worth of oil, sources say

The OPEC logo pictured before an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS / Ramzi Boudina LONDON / MOSCOW, September 29 (Reuters) – OPEC + is expected to stick to an existing deal to add 400,000 barrels …

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Morrow Sodali Appoints Corporate Governance Expert Oleg Skvyrkov to Promote Services in Russia and CIS Countries

LONDON–(COMMERCIAL THREAD) – Morrow Sodali, the world’s leading investor engagement and governance consultancy, today announced the appointment of Oleg Shvyrkov as Director, Russia and Commonwealth of Independent States (CIS). Based in Moscow, Dr Shvyrkov will primarily focus on providing a wide range of ESG and shareholder engagement services to Russian …

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Aramco installation in Abqaiq added to prestigious WEF Global Lighthouse Network

DHAHRAN, Saudi Arabia, September 28, 2021 / PRNewswire / – The World Economic Forum recognized Aramco’s third facility, Abqaiq, for its pioneering adoption and integration of advanced technologies from the Fourth Industrial Revolution (4IR). The Abqaiq Oil Processing Plant, the world’s largest oil processing plant, joins Aramco’s Uthmaniyah Gas Plant …

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Banks fuel expansion of arctic oil and gas extraction

Oil and gas companies plan to increase their extraction of fossil fuels in the Arctic by more than 20% over the next five years, in part thanks to the financial support they receive from the banking sector, according to a new report from Reclaim Finance. . French company Total is …

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Reliance board member Aramco I US pension fund to vote against Aramco chairman for Reliance board

Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF) and Chairman of Saudi Aramco | Photo credit: Twitter The California State Teachers’ Retirement Fund (CalSTRS) has decided to vote against the appointment of the chairman of Saudi Aramco as an independent director to the board of directors of Reliance Industries …

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American shale is finally ready to drill

American shale producers have performed in an exemplary fashion over the past year. It was not something the industry wanted to do. It’s something it was forced to do by the pandemic and by its shareholders, who, after years of waiting for bargains, have put their foot down and demanded …

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California State Teachers Retirement Fund to Vote Against Aramco Chairman Yasir Othman Al Rumayyan for Reliance Board of Directors

The pension fund, which has assets worth more than $ 318 billion, owns about 53.07 lakh of fully and partially paid shares of Reliance Industries, according to its website. Our office | Bombay | Posted on 09.25.21, 01:47 AM The first sign of shareholder revolt was raised at Reliance Industries. …

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Soaring gas prices, another headwind for the global economy

Snow-covered transfer lines are seen at the Dominion Cove Point Liquefied Natural Gas (LNG) terminal in Lusby, Maryland, March 18, 2014. REUTERS / Gary Cameron LONDON, Sept. 20 (Reuters) – Soaring gas prices that threaten to push up fuel bills in winter, hurt consumption and exacerbate a surge in short-term …

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Soaring energy prices could cripple the European economy

Soaring energy prices in Europe are not just affecting consumers. The price spikes have started to hit industrial activities, threatening to strike a blow at the post-COVID recovery in European economies with a triple whammy of reduced purchasing power of consumers, declining industrial production and higher operating costs. Giant European …

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Puri calls Saudi Arabia for second time in two months, Energy News, ET EnergyWorld

New Delhi: Oil Minister Hardeep Singh Puri on Friday called Saudi Oil Minister Abdul Aziz bin Salam Al Saud – the second such exchange in as many months – to discuss an energy partnership. “I had a warm exchange with HRH Abdul Aziz bin Salman Al Saud, Minister of Energy …

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Oil ends week on a bullish note as blackouts persist

Hurricane Ida is now officially the most devastating hurricane of all time in terms of disrupting oil production, and experts expect the blackouts to last through September. Friday, September 17, 2021 The Gulf of Mexico in the United States is gradually bringing back slack production capacity – to date, about …

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Puri calls Saudi Arabia for the second time in two months

Outlook September 17, 2021 10:04 PM IST Puri calls Saudi Arabia for the second time in two months perspectivesinde.com 1970-01-01T05: 30: 00 + 0530 New Delhi, September 17 (PTI) Oil Minister Hardeep Singh Puri on Friday called Saudi Oil Minister Abdul Aziz bin Salam Al Saud – the second such …

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Two decades after 9/11, Saudi Arabia wants a softer image, Middle East News & Top Stories

RIYAD (AFP) – Two decades after Saudi activists organized and carried out the 9/11 attacks, the desert kingdom is striving for change as part of a reform campaign to update its ultra-conservative image . Women can drive, and cinemas have reopened in the “new” Saudi Arabia under Crown Prince and …

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China sees opportunity as Venezuela’s oil industry hits rock bottom

Venezuela’s near collapse and strict US sanctions create an opportunity for Russia, Iran and China to strengthen their presence in Latin America, a region that has been under US hegemony for decades. While Russia and Iran have, to some extent, gained a foothold in Venezuela by providing crucial support to …

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Rats, drought and labor shortages eat away at global edible oil recovery

Rodents relish palm fruits in Malaysia due to labor shortage Palm oil prices remain close to their all-time high Dry weather in canola regions of Canada has seen production slow High prices to encourage soybean planting in Brazil PERAK, Malaysia / SINGAPORE, Sept. 5 (Reuters) – At a sprawling oil …

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MIDEAST STOCKS Saudi Arabia Extends Losses on Weak Oil, Other Major Gulf Stock Exchanges Rise

Aug.22 (Reuters) – Most of the major Gulf stock markets ended higher on Sunday, as lower oil prices continued to put pressure on the Saudi index, extending losses for a second session. In Abu Dhabi, the index (.ADI) rose 0.8%, with the country’s largest lender, First Abu Dhabi Bank (FAB.AD) …

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Oil prices stable after US call for more oil raises supply concerns

White House: OPEC + output is not enough, may harm global recovery White House not asking US oil producers to increase production US crude and gasoline inventories are falling; lower fuel consumption -EIA SINGAPORE, Aug. 12 (Reuters) – Oil prices held steady on Thursday after two days of rising after …

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Oil slips 4% on Chinese virus brakes and climate warning

WTI crude at its lowest since May China Reports Increase in New COVID-19 Cases Chinese July crude imports down 20% year on year UN panel issues dreadful climate change warning LONDON, Aug. 9 (Reuters) – Oil prices fell 4% on Monday, extending last week’s steep losses amid a rising US …

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China doubles expansion of renewable energy

China is calling on its major utilities and local authorities to update the government monthly on their progress in building and installing renewable energy capacity as Beijing seeks to meet its energy targets. clean energy. China, which has pledged to achieve net zero emissions by 2060, a decade later than …

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‘Low point’ in World Heritage Committee history as politics ‘trampled’ on human rights of the Karen people | Great Barrier Reef

Along Thailand’s border with Myanmar, in rich forests filled with rare plants and animals, the indigenous Karen people are fighting for the right to live on their traditional lands. Last month, the UN human rights agency said the Karens continued to be forcibly evicted from the forests of Kaeng Krachan. …

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Saudi oil challenged in Asia by coronavirus and cheaper alternatives

By Sharon cho on 8/6/2021 (Bloomberg) – Saudi Arabia’s decision to increase the cost of its oil in Asia could backfire, as an outbreak of the delta virus variant in China dampens demand, while the United States and the Russia offer alternatives at more competitive prices. Saudi Aramco has increased …

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Aramco in Saudi Arabia increases Asia, US oil prices indicate increased demand

Saudi Arabia raised oil prices for buyers in Asia and the United States for September, a sign that the world’s largest crude exporter sees demand continue to recover despite an increase in coronavirus cases in some of the major energy importers from the world. OPEC +, the Saudi-Russian-led group of …

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Oil trader Vitol gives top employees $ 7 million equivalent each

Updates from Vitol Holding BV Subscribe to myFT Daily Digest to be the first to know about Vitol Holding BV news. Vitol handed top executives and staff a record salary, giving the equivalent of more than $ 7 million to each of the approximately 400 partners of the London-led oil …

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Marsh launches Engineering Hub in Saudi Arabia, 3rd in MENA region

The Saudi city of Al Khobar is now home to Marsh’s third engineering center in the Middle East, aimed at helping regional energy companies manage risk. Oil industry expert Nick Holland takes charge of the new installation. Marsh Engineering Centers support energy, power and commercial real estate customers with personalized, …

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Column: Supercycle, which supercycle? Chinese imports of raw materials do not impress (Russell)

Workers drive loaders unloading imported coal at a port in Lianyungang, Jiangsu province, China, December 5, 2019. REUTERS / Stringer The bullish glow surrounding commodities may have lost its luster, with imports in May from the main Chinese buyer looking distinctly unimpressive and far from levels associated with a new …

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Data-rich week could lead to price swings in oil markets

Daniel Graeber, Corresponding June 7, 2021Update: June 7, 2021 at 5:35 am A series of reports updating demand forecasts could lead to price swings in oil markets this week. Elizabeth Conley, Houston Chronicle / Staff Photographer Monthly market reports from OPEC, EIA and IEA could result in a volatile week …

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Saudi Arabia, Italy, Indonesia and Colombia host G20 anti-corruption event at UN

JEDDAH: Within Saudi Arabia’s Vision 2030 agenda is a plan to address environmental issues and implement sustainable solutions. Over the past five years, the Kingdom has made great strides in ‘going green’ initiatives that include everything from recycling to waste management. Earlier this year, five national environmental centers and an …

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Iran gears up to return to oil market as US talks advance

Iran gears up to boost global oil sales as talks to lift sanctions show signs of progress. But even if a deal is made, the flow of additional crude into the market can be gradual. State controlled National Iranian Oil Co. has primed the oil fields – and relationships with …

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Bold Prince firmly holds Saudi Aramco cash dispenser, the world’s most profitable company

Staredown: Crown Prince Mohammed bin Salman gives an interview to the official television station in Riyadh, Saudi Arabia on April 28, 2021. Anadolu Agency via Getty Images On track for $ 80 billion in revenue this year, Saudi Aramco retained its fifth place in the 2000 world rankings. Stocks trade …

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Record Metal Prices Catapult Mining Profits Beyond Big Oil

Large oil producers, who for decades were the biggest earners in the natural resources industry, are being eclipsed by once smaller mining peers who are making record profits from burning metals markets. The mining windfall is the latest sign of a boom in iron ore, copper and other metals that …

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Aramco Weighing sells stake in NatGas Pipelines | Rigzone

(Bloomberg) – Aramco is considering selling a stake in its vast pipeline network to help free up liquidity and attract more international investors to Saudi Arabia, people familiar with the matter said. The state-owned power producer is holding preliminary discussions on the potential move, people said, asking not to be …

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BP Quarterly Profit Reaches $ 3.3 Billion As Oil Prices Rebound | BP

BP has announced its biggest quarterly profit since the start of the Covid pandemic and will offer investors a windfall of $ 500 million (£ 360 million) as global oil markets recover from the crisis. The oil company posted a profit of $ 3.3 billion for the first quarter, up …

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Aramco evaluates the sale of its stake in gas pipelines

Saudi Aramco is considering selling a stake in its extensive pipeline network to help free up money and attract more international investors to the kingdom, people familiar with the matter said. The state-owned power producer is holding preliminary talks on the potential move, people said, asking not to be identified …

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The 5 most influential oil companies in the world

At a virtual climate summit with 41 world leaders, President Joe Biden on Thursday unveiled an ambitious 10-year climate plan that proposes to cut U.S. greenhouse gas emissions by 50 to 52 percent d ‘by 2030. This represents a quasi-doubling the US commitment of a 26-28% reduction under the Obama …

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EU admits it can’t go to zero without natural gas

The past week was marked by much needed good news for natural gas. The European Union has indicated that it will include natural gas in its energy plans for the future, emissions and everything. The bad news is that by talking about emissions, the EU could force suppliers to minimize …

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Saudi Arabia’s switch to renewables could save it $ 200 billion

By Irina Slav – April 26, 2021, 1:00 p.m. CDT Saudi Arabia could save some $ 200 billion over the next decade by switching from crude oil to natural gas and renewables for power generation, Reuters reports, quoting the Kingdom’s finance minister. “Instead of buying fuel in international markets for …

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Putin vows to join climate action, but Moscow targets still low

The Kremlin. Credit: uuseesti.ee Speaking at an international summit convened by the White House last week, President Vladimir Putin pledged that his country, the world’s fourth-largest emitter, is determined to meet its obligations to fight climate change. Putin’s appearance at the virtual rally via video link marked a rare moment …

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Aramco suspects sale of stake in gas pipelines

LONDON / DUBAI / CAIRO (April 26): Saudi Aramco is considering selling a stake in its extensive pipeline network to help free up money and attract more international investors to the kingdom, sources familiar with folder. The state-owned power producer is holding preliminary discussions on the potential move, people said, …

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Crude Oil Price Forecasts – Crude Oil Markets Continue to Struggle

WTI crude oil The West Texas mid-market crude oil market fell significantly during Monday’s trading session as traders start to worry about India’s slowdown. After all, we are starting to see signs of declining domestic demand, which of course is very negative for crude oil as India is the world’s …

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Saudi Arabia joins new climate change forum – State News Agency

General view of Saudi Aramco’s Ras Tanura Oil Refinery and Oil Terminal in Saudi Arabia on May 21, 2018. Photo taken on May 21, 2018. REUTERS / Ahmed Jadallah / Saudi Arabia will join the United States, Canada, Norway and Qatar in forming a new platform for oil and gas …

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Japan’s JICA to lend Tata Cleantech up to 10 billion yen to finance renewable energy

Japan International Cooperation Agency (JICA) signed a loan agreement for up to JPY 10 billion (€ 6.65 billion) with Tata Cleantech Capital (TCCL), an Indian non-bank finance company. Based on the principles of green lending, the loan agreement will help MTBI offer loans to Indian companies that focus on renewable …

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