Saudi Aramco Replaces Microsoft As The World’s Second-Largest Company
Saudi Aramco has unseated Microsoft from the place of the world’s second-largest company in terms of market value, boasting $2.11 trillion in value, second only to Apple.The change in ranking occurred last month after Aramco’s shares rose on the new…
Russia Looks for Ways To Boost Oil Income
Russias government is mulling over fuel subsidy cuts or a windfall tax for the oil industry in a bid to offset the sharp drop in oil and gas revenues amid the Western sanction push following Moscows invasion of Ukraine.Bloomberg cited unnamed sources …
3 Reasons Why Oil & Gas Is Goldman Sachs’ Favorite Sector
Wall Street investment bank Goldman Sachs has advised investors to buy energy and mining stocks, saying the two sectors are positioned to benefit from economic growth in China. GS’ commodities strategist has forecast that Brent and WTI crude oil will…
3 Reasons Why Oil & Gas Is Goldman Sachs’ Favorite Sector
Wall Street investment bank Goldman Sachs has advised investors to buy energy and mining stocks, saying the two sectors are positioned to benefit from economic growth in China. GS’ commodities strategist has forecast that Brent and WTI crude oil will…
Australia Plans To Extend Natural Gas Price Cap To 2025
Russias crude oil shipments continued to average a high of 3.4 million barrels per day (bpd) in the week to April 21 despite the 500,000 bpd production cut Moscow claims to be implementing by the end of this year, vessel-tracking data compiled by Bloo…
Russian Oil Exports Remain High Despite Production Cut
Russias crude oil shipments continued to average a high of 3.4 million barrels per day (bpd) in the week to April 21 despite the 500,000 bpd production cut Moscow claims to be implementing by the end of this year, vessel-tracking data compiled by Bloo…
Putin And Saudi Crown Prince Discuss OPEC+ Oil Output Deal
Vladimir Putin and Saudi Arabia’s Crown Prince Mohammed bin Salman discussed the OPEC+ agreement in a telephone conversation on Friday, the Kremlin says, as Russia and Saudi Arabia continue to coordinate a common approach to oil supply to the market.…
Nigeria's Oil And Gas Sector Hit By $21 Billion In Divestments
The oil and gas production in Nigeria is being severely impacted by the Western ESG strategies that are forcing IOCs to reconsider their upstream and downstream operations worldwide, resulting in major reshuffling and divestments of assets. Nigeria, o…
Pakistan To Receive Its First Cargo Of Cheap Russian Crude
Pakistan expects to receive in May its first cargo loaded with discounted Russian crude after placing its first order for oil from Moscow under a new bilateral deal, Pakistan’s Petroleum Minister Musadik Malik told Reuters.For several months, Pakista…
Iraq To Restart Kurdistan Oil Exports This Week
Iraq will restart the export of crude oil from the Kurdistan region by the end of the week, the country’s Prime Minister, Mohamed Shia al-Sudani, said, as quoted by Rudaw.The news follows comments made earlier this week by the deputy speaker of the I…
Russia's Gasoline Exports Jump As African Buyers Replace Europe
Russian gasoline exports surged in the first quarter of this year compared to the same period in 2022, as Moscow placed growing volumes of fuels with African customers after the EU embargo on seaborne imports of Russias fuels. Russian gasoline expor…
Oil Demand Set To Remain Strong For Years To Come
I often get asked by readers of my articles, most of which involve investing in upstream oil and gas producers, and the service providers that support their activities, what the future of liquid, petroleum based fuels might be. People asking these que…
Russia Delivers 30,000 Tons Of Fuel To Iran Via Rail
Russia launched for the first time this year fuel-by-rail exports to Iran after the West banned seaborne imports of fuels from Russia over Putin’s invasion of Ukraine, industry sources have told Reuters. Russian firms are looking to place their dies…
Prices At The Pump Rise For Second Straight Week
The national average for a gallon of gasoline in the United States has risen for the second week in a row, up 8.8 cents from a week ago, to $3.57, according to GasBuddy, and up to $3.64 per gallon based on AAA data.GasBuddy data shows the national ave…
China’s Top Oil Companies To Invest $14.5 Billion In Renewable Energy
China, the worlds largest emitter of greenhouse gases, has committed to net-zero carbon dioxide emissions by 2060. The move is a significant change in direction for the country, which has heavily relied on coal-fired power plants for much of its energ…
U.S. Losing Influence As Saudi Arabia Joins Shanghai Cooperation Organization
Saudi Arabia’s very public announcement last week that its cabinet had approved a plan to join the Shanghai Cooperation Organisation (SCO) as a ‘dialogue partner’ is the surest sign yet that any U.S. efforts to keep it out of the China-Russia spher…