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Oil Hovers Near $50 as Expectations of Urgent OPEC Meeting Fade

Oil Hovers Near $50 as Expectations of Urgent OPEC Meeting Fade

Oil hovered around $50 a barrel in New York on signs a much-touted emergency meeting of OPEC+ ministers probably won’t happen after all. Ministers from the group and its allies are unlikely to hold an early meeting this month, while one planned for March will go ahead, Azerbaijan Energy Minister Parviz Shahbazov told the RIA […]

Glencore Appoints CEO Glasenberg’s Nephew to Run Oil Assets

Glencore Appoints CEO Glasenberg’s Nephew to Run Oil Assets

Ivan Glasenberg appointed his nephew as head of oil assets at Glencore Plc, the latest changing of the guard in the senior ranks of the world’s largest commodity trader. Colin Glasenberg, who joined Glencore’s energy business in 2011, is now part of senior management and oversees oil fields in Chad and Equatorial Guinea. The appointment […]

Thunberg to Davos: Nothing’s Been Done on Climate Change

Thunberg to Davos: Nothing’s Been Done on Climate Change

Greta Thunberg brought a stark message to the business elite gathering in Davos: Everybody is talking about climate change, but nobody is doing anything. Her appearance at the opening of the World Economic Forum was a striking sign that the debate about how to stop the Earth warming has become mainstream in business circles. Yet […]

Despite Trump’s Claim, the U.S. Still Needs Some Middle East Oil

Despite Trump’s Claim, the U.S. Still Needs Some Middle East Oil

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» Cements Its Role as Biggest Independent LNG Trader

«Gunvor Group» Cements Its Role as Biggest Independent LNG Trader

«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 Set to Pay Banks Only $64 Million for Record IPO

Saudi Aramco Set to Pay Banks Only $64 Million for Record IPO

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 […]

Aramco Closes Just Below $2 Trillion Goal in Second-Day Gain

Aramco Closes Just Below $2 Trillion Goal in Second-Day Gain

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 […]

Aramco Stock Will Have Plenty of Support When Trading Begins

Aramco Stock Will Have Plenty of Support When Trading Begins

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 […]

Energy Chief Perry Tells Trump He Plans to Leave Post This Year

Energy Chief Perry Tells Trump He Plans to Leave Post This Year

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 […]

Oil’s Rising Again as Iran’s Warning of War Ratchets Up Tensions

Oil’s Rising Again as Iran’s Warning of War Ratchets Up Tensions

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, […]

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