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Saudi oil fields are in the firing line as Gulf conflicts continue

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By Anthony DiPaola on 8/20/2019 DUBAI (Bloomberg) – Flaring tensions in the Persian Gulf have seen some of the world’s biggest crude deposits, along with processing and transport infrastructure and vessels, targeted by explosives-laden drones and bombings. The threats to the kingdom’s crude production and infrastructure shine a light on the risk to global oil Read More

Oil climbs as Huawei sanctions delay offers sign of trade war truce

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By Alex Nussbaum and Grant Smith on 8/19/2019 NEW YORK (Bloomberg) – Oil climbed as the U.S. delayed sanctions against Huawei Technologies, offering a hint of progress in its trade war with China, and a drone attack in Saudi Arabia highlighted simmering Middle East tensions. Futures jumped 2.4% to top $56/bbl in New York on Read More

Saudi oil field targeted by drone attack, production unaffected

2 days ago DieselGasoil Comments Off on Saudi oil field targeted by drone attack, production unaffected
By Javier Blas and Verity Ratcliffe on 8/19/2019 LONDON (Bloomberg) – Yemeni rebels attacked oil and gas facilities at the Shaybah field in southeast Saudi Arabia, but failed to disrupt production. Saudi Arabian Oil Co., or Aramco as the company is known, extinguished a small fire at a natural gas liquids plant at Shaybah on Read More

Oil rises as Saudi drone attack stokes export concerns

2 days ago DieselGasoil Comments Off on Oil rises as Saudi drone attack stokes export concerns
By Saket Sundria and Grant Smith on 8/19/2019 SINGAPORE (Bloomberg) – Oil rose for a second day as a drone attack on a Saudi Arabian oil field revived concerns that the tense Middle East political situation may jeopardize crude exports. Futures in New York advanced as much as 1.7% to trade above $55/bbl. Yemeni rebels Read More

Aramco remains world’s most profitable company even as oil falls

1 week ago DieselGasoil Comments Off on Aramco remains world’s most profitable company even as oil falls
By Matthew Martin on 8/13/2019 DUBAI (Bloomberg) – Saudi Aramco showed Monday it’s still the world’s most profitable company — and paid out almost all its net income in dividends — despite the dwindling price of oil. Profit slid 12% to $46.9 billion in the first six months of 2019, the state-owned energy giant said Read More

Saudi Aramco offers no surprises in first earnings results call

1 week ago DieselGasoil Comments Off on Saudi Aramco offers no surprises in first earnings results call
By Julian Lee and Matthew Martin on 8/12/2019 LONDON (Bloomberg) – Saudi Aramco’s senior executives can breathe a collective sigh of relief after the company’s first-ever earnings call with investors. The half-hour event was a pretty gentle affair with few questions that were likely to embarrass a company with a potentially lucrative share sale in Read More

Saudi Aramco’s H1 net income slips to $46.9 bil on lower oil prices

1 week ago DieselGasoil Comments Off on Saudi Aramco’s H1 net income slips to $46.9 bil on lower oil prices
Highlights Reports first half financial results for first time Talks up financial, production strength Highlights downstream importance Saudi Aramco, the world’s top oil producer, reported its first half financial results for the first time on Monday, highlighting its financial muscle and production capabilities ahead of a much-vaunted but much-delayed stock market listing. Not registered? Receive Read More

Fast jets, spy planes and helicopters: On board the warships ready to strike Iran

1 week ago DieselGasoil Comments Off on Fast jets, spy planes and helicopters: On board the warships ready to strike Iran
Fast jets, spy planes and helicopters fly scores of sorties every day from a US aircraft carrier in the Arabian Sea, positioned within striking distance of Iran. President Donald Trump moved USS Abraham Lincoln and other warships into the region in May, slightly sooner than planned, as tensions grew between Washington and Tehran. Officers say Read More