Trump said: «We do not need Middle East oil», but the reality is while imports have dropped substantially, US refineries still need those grades of crude. President Donald Trump said during an address from the White House Wednesday that the U.S. no longer needs oil from the Middle East, but American refineries still use the […]
«Gunvor Group Ltd.» cemented its role as the world’s largest independent trader of liquefied natural gas, the fastest growing fossil fuel. The trading company delivered 16 million tons of LNG this year, boosting volumes by 45% from 2018, the company said on Wednesday. Last year, it already topped larger rivals «Vitol Group» and «Trafigura Group […]
Saudi Aramco is poised to pay a combined $64 million to the banks that arranged the world’s largest initial public offering, a letdown for the Wall Street firms that pitched aggressively for a spot on the deal, people with knowledge of the matter said. The Gulf oil giant plans to pay the top local banks […]
Khalid Abdullah Al Hussan, CEO of Tadawul, the Saudi stock exchange, discusses Saudi Aramco’s IPO. Saudi Aramco shares rose for a second day, but the oil giant failed to hold on to the $2 trillion valuation that Crown Prince Mohammed bin Salman had long targeted. The stock climbed 4.6% to close at 36.80 riyals in […]
When shares of Saudi Arabia’s national oil company begin trading Wednesday after the world’s largest initial public offering, the stars will be aligned to ensure that the stock price holds up. Aramco sold $25.6 billion of shares at 32 riyals each, the top of the range at which they were marketed, and the company had […]
Bloomberg: Energy Secretary Rick Perry notified President Donald Trump on Thursday that he’ll leave the post this year. Perry, one of the administration’s original cabinet secretaries, enjoyed good rapport with Trump. The former Texas governor has recently come under scrutiny in the House impeachment inquiry over his discussions with Ukraine. In a letter, Perry told […]
Bloomberg By Saket Sundria September, 20 04:30 GMT+3 Iran says any U.S., Saudi strike would lead to “all-out war”Brent crude up almost 8% this week at close to $65 a barrel In this article CL1: WTI Crude 58.61 USD/bbl. +0.48 +0.83% The threat of war in the Middle East is pushing oil prices higher again, […]
The merger of the longstanding German companies Wintershall and DEA is progressing. So far, the companies have applied for all relevant governmental approvals and aim for closing during the first half of 2019.The merger will make Wintershall DEA the largest independent gas and oil producer in Europe. Wintershall reported this on February 21, 2019. The […]
The world must invest $2.4 trillion in clean energy every year through 2035 and cut the use of coal-fired power to almost nothing by 2050 to slow the quickest pace of climate change since the end of the last ice age, according to scientists convened by the United Nations. The findings released Monday by the […]
One of the main discussion topics during the Russian Energy Week International Forum will be the development of infrastructure as a way to grow the economy and improve people’s living standards. Russian Deputy Prime Minister Dmitry Kozak, Moscow Mayor Sergei Sobyanin, Russian Railways CEO and Chairman of the Management Board Oleg Belozerov, Sberbank CEO and […]
