Tag Archive

UK supermarkets cuts Petrol prices

UK supermarkets cuts Petrol prices

December 3, 2018 No Comments

Three major UK supermarkets have announced cuts to fuel prices today as the wholesale cost continues to decrease. Customers at Asda, Sainsbury’s and Morrisons will benefit from 2p per litre discount on unleaded and diesel. Drivers will now pay no more than 116.7p per litre on unleaded and 127.7p per litre on diesel at Asda […]

Saudis Scramble To Stop Oil Price Slide

Saudis Scramble To Stop Oil Price Slide

November 13, 2018 No Comments

Saudi Arabia is moving quickly to halt the slide in oil prices, telegraphing a production cut intended to erase some of the re-emerging supply surplus. Saudi oil minister Khalid al-Falih said on Monday that the kingdom would slash oil exports by 500,000 bpd in December, a move that would go a long way to reversing […]

Outlook for Africa’s oil & gas industry improves – PwC report

Outlook for Africa’s oil & gas industry improves – PwC report

November 6, 2018 No Comments

The outlook for Africa’s oil & gas industry is positive amid difficult operating and economic headwinds. Tough economic and external conditions have placed pressure on oil & gas companies to be more cost-effective and efficient. Companies have adopted to a low-cost environment, which promises to be even more beneficial given the current recovering oil price. […]

Anadarko Announces 2018 Third-Quarter Results

Anadarko Announces 2018 Third-Quarter Results

October 30, 2018 No Comments

Anadarko Petroleum Corporation (NYSE: APC) today announced 2018 third‑quarter results, reporting net income attributable to common stockholders of $363 million, or $0.72 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, these items decreased net income by $48 million, or $0.10 per share (diluted), on […]

ENERGY NEWSTRACK TO 12/09/18

ENERGY NEWSTRACK TO 12/09/18

September 12, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $76.02 a barrel on Tuesday, 11 September 2018, compared with $75.20 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

Iran And Saudi Arabia Reignite The Oil Price War

Iran And Saudi Arabia Reignite The Oil Price War

August 14, 2018 No Comments

The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. Saudi Arabia, OPEC’s largest producer, has been boosting oil production to […]

Occidental  Announces 2nd Quarter 2018 Results

Occidental Announces 2nd Quarter 2018 Results

August 9, 2018 No Comments

Occidental Petroleum Corporation today announced net income for the second quarter of 2018 of $848 million, or $1.10 per diluted share. Earnings for the second quarter of 2018 were adversely impacted by approximately $90 million, or $0.12 per diluted share, due to the timing of crude oil liftings in Oman and the non-cash, mark-to-market impact […]

Can Saudi Arabia Prevent The Next Oil Shock?

Can Saudi Arabia Prevent The Next Oil Shock?

June 15, 2018 No Comments

The ongoing speculation online about the future of cooperation between Russia and OPEC seems to be a little one-sided. The main point of discussion up until now has been the fact that, due to international pressure (such as Trump’s Twitter diplomacy, perceived Russian willingness to open up the taps and pressure from Asian consumers) Saudi […]

Global energy demand growth above its 10-year average

Global energy demand growth above its 10-year average

June 13, 2018 No Comments

Introducing the 2018 edition of the BP Statistical Review of World Energy, Bob Dudley, BP group chief executive, said: “2017 was a year where structural forces in the energy market continued to push forward the transition to a lower carbon economy, but where cyclical factors have reversed or slowed some of the gains from prior […]

Oil Kingdom In Crisis

Oil Kingdom In Crisis

June 6, 2018 No Comments

Saudi Arabia has plunged its immediate region into major strategic uncertainty. What can only be described as a serious outbreak of shooting in the Royal Palace in Riyadh on April 21, 2018, was the catalyst for events which could determine the fate of the Crown, the Kingdom, and the regional competition, particularly with Iran, for […]

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