14th Sept 20-It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis, just as the previous 2014-2016 effort did and for the very same reasons. For Crown Prince Mohammed bin Salman (MbS), one of the masterminds behind the oil war…
14 Sept 20-President Donald Trump on Saturday offered a boost to the ethanol industry as he courts farmers and biofuel producers in Midwestern swing states before the November election.Trump has approved using existing filling station pumps to distribute higher-ethanol gasoline. “Subject only to State approval, our important Ethanol Industry will be allowed to use the…
Maputo: The US has set aside $1.5 billion for political risk insurance in the gas-rich northern Mozambique region ravaged by an Islamist insurgency for the past three years, its Maputo embassy said Thursday. The International Development Finance Corporation (DFC) has “agreed to provide up to $1.5 billion in political risk insurance to support the commercialization…
People think it’s Covid, law and disorder, etc. that will decide Donald Trump’s fate. None of that. His base is still intact at just over 40 per cent of the electorate. There is one issue that will decide the outcome of the US presidential election. It’s an issue in the two swing states of Pennsylvania…
The United Arab Emirates (UAE), currently OPEC’s third-largest producer, is estimated to have exported a lot more crude oil in August as it produced more than its quota under the OPEC+ deal, undermining the oil market’s faith in the group’s unity in the cuts. According to tanker tracking data Bloomberg has compiled from several oil…
Kolkata, Major exploration and production (E&P) companies in the oil and gas sector of the country are increasing their exposure in digital technology to sustain operations in COVID-19 time, experts said on Friday. Adoption of the digital route has now become important for the sustainability of operations, maintenance and also in keeping liquidity, said director…
The slide in crude oil prices accelerated after the Energy Information Administration reported a crude oil inventory build of 2 million barrels for the week to September 4. A day earlier, the American Petroleum Institute added gloom to an already pessimistic market by reporting an inventory build of 2.97 million barrels for the same period.…
The record oil production cuts that OPEC+ initiated in response to the demand and oil price collapse have helped the oil market to stabilize in recent months. Yet, oil prices have been stuck in the low $40s since the end of the second quarter. While this is a huge improvement—double that of the lows seen…
China’s next five-year plan beginning in 2021 will call for increases to its mammoth state reserves of crude, strategic metals and farm goods, said officials familiar with the discussions. Beijing is keen to heed the lessons of the coronavirus crisis and deteriorating relations with the U.S. and its allies, according to the officials, who participated…
DUBAI/BAGHDAD/LONDON: A debate within Iraq over whether it should ask to be exempt from OPEC+ oil supply cuts has resurfaced as low prices squeeze its finances, challenging a government struggling to tackle the destruction of years of war and rampant corruption. OPEC’s second-biggest producer, Iraq has failed in the past to fully comply with OPEC+…
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