The decision assumes significance on the account of the wealth fund being the world’s largest sovereign wealth fund and in a scenario with sustained low oil prices, it will result in a reduction in the government’s net cash flow from… Read More ›
oil
Venezuela takes step to block multi-billion oil smuggling business
Oil prices in Venezuela are set to rise to international levels. However, Venezuelans who register their vehicles in the vehicle census that is being carried out by his government will continue to receive subsidized fuel prices. Through a televised address,… Read More ›
Chinese exports to the U.S. continues despite U.S. tariffs
Although China’s July exports to the U.S. is marginally lower than June, data shows its exports to the United States has accelerated ahead of the imposition of more tariffs. Despite the rumblings coming from in the intensifying trade war between… Read More ›
China threatens to impose 25% tariff on U.S. crude
By targeting U.S. crude, Beijing has placed the Trump administration’s “energy dominance” in its cross-hairs. In a development that adds to pressure on the U.S. government to scale back trade pressures on China, energy analysts and executives have disclosed the… Read More ›
UAE to allow 100% foreign ownership of UAE incorporated firms by end of 2018
The move is part of a bigger, wider gameplan aimed at diversifying the country’s economy. According to a news bulletin by the United Arab Emirates’ news agency WAM, its cabinet has approved steps that would allow foreign investors to have… Read More ›
U.S. District Judge Valerie Caproni dismisses Exxon Mobil Corp’s lawsuit against NY and Massachusetts
In an interesting turn of events U.S. District Judge Valerie Caproni dismissed Exxon Mobil Corp’s lawsuit against the Attorney General of NY and Massachusetts on the grounds of Exxon’s arguments being “implausible”. In a setback to U.S oil giant Exxon… Read More ›
Crude oil posts strongest ever opening of the year since 2014
Despite receiving support for its bullish upward drive, rising U.S. oil production is likely to be a drag for oil’d 2018 outlook. On Tuesday, oil prices posted their strongest ever opening since 2014, with the anti-government uprising in Iran along… Read More ›
China caught supplying oil to North Korean vessels at sea
Despite China’s talk, the South Korean news report reiterates suspicion by Tokyo, Seoul and Washington that China has been actively aiding, bolstering and conducting business with its ally – North Korea. Following a South Korean news report that Chinese vessels… Read More ›
Demand for oil in Southeast Asia to continue to rise upto 2040: IEA
Here’s the forecast by the International Energy Agency for fossil fuels, including oil, gas and coal for Southeast Asia upto 2040. On Tuesday, the International Energy Agency forecast that the demand for crude oil in Southeast Asian is likely to… Read More ›
Vedanta Resources positioning itself anticipating a hike in the demand for electric vehicles
The company;s portfolio is likely to allow it to improve and feed the demand for better battery technology and lighter, fuel efficient vehicles. To this end, its cobalt, zinc and aluminium mines in Zambia, Congo and India are likely to… Read More ›
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