Russia, the world’s largest energy exporter, said the current oil-price slump was expected and it doesn’t plan talks with Saudi Arabia for the time being. The decision to keep the Saudis at arm’s length comes as oil tumbles to a four-year low, continuing its slide after the collapse of OPEC+ …
Read More »Saudis Pledge Huge Oil Supply Increases to European Refiners
Saudi Arabia is unleashing a wave of crude toward Europe, traditionally the backyard for Russian oil sales, pledging to supply regional refineries with as much as triple their usual intake from the kingdom. The Saudi shipments, coupled with unprecedented discounts, are turning the European oil market into the most bitterly …
Read More »OPEC’s Failure Impacts Every Corner of the Global Oil Market
The OPEC+ alliance’s dramatic failure to reach an output deal is most obviously being felt in oil futures, which plunged the most since 2008 in London. A look at the less-conspicuous corners of the market reveal the scale of the impact. The potential collapse of the group led by Saudi …
Read More »Putin Dumps OPEC to Start a War with America’s Shale Oil Industry
Prices will fall until either Moscow or Riyadh call off the endurance contest.
Read More »Canadian Natural Resources Buys Devon`s Canada Unit for $2.8 Billion
Canadian Natural Resources agreed to buy the Canadian business of Devon Energy for C$3.8 billion ($2.8 billion). gaining heavy-oil assets in the province of Alberta.
Read More »Oil Slumps as U.S.-China Trade Hostilities Escalate
Oil slumped as escalating trade hostilities between the U.S. and China stoked fears of slowing global growth.
Read More »Exxon. Chevron will Face Climate Change Pressure from Investors
Exxon’s ``inadequate response to climate change constitutes a serious failure of corporate governance.
Read More »Aramco Enters U.S. Shale Gas Business with Sempra LNG Deal
Saudi Arabia is tapping into the U.S. shale revolution that will primarily ship the fuel to buyers in Europe and Asia.
Read More »Saudi Taqa has Purchased Schlumberger`s Middle Eastern Drilling Business for $1.2 Billion
Taqa plans to use about $800 million of its own funds for the planned acquisitions.
Read More »Russia Stopped Oil Export to Europe Due to Contamination
Supplies of oil and refined products to the Polish market will be maintained from stockpiles until the situation is resolved.
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