Forecasts of tighter LNG supplies along with volatile prices for the next few years are keeping buyers on edge and are impeding the push towards alternative energy sources. As a result of these factors, energy security has become a top… Read More ›
oil
EU embargo on Russian oil being prepared: French Finance Minister
On Tuesday, French Finance Minister Bruno Le Maire said, an embargo on Russian oil at a European Union level was in the pipeline. “I hope that in the weeks to come we will convince our European partners to stop importing… Read More ›
US gasoline prices continue to rise, Russia China trade continues to grow despite sanctions
In a statement auromobile club AAA said, U.S. gasoline prices at pump stations have soared by 11% in the last week touching their highest levels since July 2008. Global sanctions on Russia has blocked Russia’s ability to export crude oil… Read More ›
Global markets see widespread sells offs following Russian invasion of Ukraine
On Thursday, US bond yields along with stocks fell sharply while the prices of gold, the USD and oil skyrocketed after Russian troops landed in Ukrainian cities on the Black Sea with Ukraine saying Moscow had launched a full-scale invasion…. Read More ›
Biden Administration orders immediate stop in financing new carbon intensive fossil fuel projects overseas
According to US diplomatic cables, the Biden Administration has ordered U.S. government agencies to immediately stop financing new carbon-intensive fossil fuel projects abroad and prioritize global collaborations towards clean energy technology. The move is aimed at ending US financial support… Read More ›
Japan to tighten regulations on foreign ownership of domestic firms
On Wednesday, a report from Japan’s Yomiuri newspaper stated, the government is weighing options which include tightening regulation on foreign funds which have stakes in domestic firms in important technology sectors such as defense and the nuclear industry. With the… Read More ›
EIG Global Energy Partners led consortium acquires 49% stake in Aramco’s pipeline business for $12.4 billion
In a statement U.S.-based EIG Global Energy Partners said, a consortium led by it has closed a deal to acquire a 49% stake in Saudi oil giant Aramco’s pipelines business for $12.4 billion. The co-investment process for the deal attracted… Read More ›
Saudi Aramco hires bankers ahead of multi-tranch U.S. dollar denominated bond issue
On Monday, oil giant Saudi Aramco stated, ahead of its launch of its U.S. dollar-denominated bond issuance, it has hired a group of banks, in a stock exchange filing. Saudi Aramco, the world’s biggest oil company is aiming to raise capital… Read More ›
Oil major Exxon Mobil keeps Q4 dividend unchanged, a first since 1982
In a development that marks and underscores the massive impact the coronavirus is having on the oil industry, Exxon Mobil Corp stated, it will keep its fourth-quarter dividend flat at 87 cents a share. This is the first time since 1982… Read More ›
Chevron’s Middleastern pivot central to its energy strategy
In a significant development, U.S. oil giant Chevron Corp is staking its natural gas future on the Middle East, a typically volatile region where energy majors have long tread warily. Chevron’s CEO Michael Wirth’s Middle Eastern pivot underpins a bet that… Read More ›
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