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Oil rallies after attack on Saudi facilities, stocks slip

21 hours ago DieselGasoil Comments Off on Oil rallies after attack on Saudi facilities, stocks slip
NEW YORK (Reuters) – Oil prices jumped on Monday after attacks on crude facilities in Saudi Arabia sliced the kingdom’s production in half and sparked worries over the impact of an oil shock on economic growth, halting a positive run in world stock markets as investors reached for less-risky assets. Increased demand for safe-haven U.S. Read More

Oil prices may slump heavily in 2020

3 days ago DieselGasoil Comments Off on Oil prices may slump heavily in 2020
OPEC and its partners will not deepen their oil production cut yet but will discuss the topic again in December. This is what Saudi Arabia’s newly appointed Energy Minister Abdulaziz bin Salman told media after this week’s meeting of the Joint Ministerial Monitoring Committee. A discussion, however, may not be enough. OPEC may be forced to Read More

Google to pay 465 million euros in additional taxes in France, boosting settlement to 1 billion

4 days ago DieselGasoil Comments Off on Google to pay 465 million euros in additional taxes in France, boosting settlement to 1 billion
FILE PHOTO: A Google sign is seen during the WAIC (World Artificial Intelligence Conference) in Shanghai, China, September 17, 2018. REUTERS/Aly Song/File Photo PARIS (Reuters) – Google said on Thursday it agreed to pay 465 million euros in additional taxes to French authorities, boosting the total settlement to end a fiscal fraud probe in the Read More

London Stock Exchange flatly rejects Hong Kong’s $39 billion takeover offer

4 days ago DieselGasoil Comments Off on London Stock Exchange flatly rejects Hong Kong’s $39 billion takeover offer
LONDON (Reuters) – The London Stock Exchange (LSE.L) emphatically rejected the Hong Kong bourse’s $39 billion takeover offer on Friday, opting to stick with its planned purchase of data and analytics group Refinitiv. FILE PHOTO: Signage is seen outside the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter Nicholls/File Photo Read More

Refinery News Roundup: Turnarounds in Asia-Pacific coming to an end

5 days ago DieselGasoil Comments Off on Refinery News Roundup: Turnarounds in Asia-Pacific coming to an end
London — Mangalore Refinery and Petrochemicals Ltd. has begun to restart its crude distillation unit after fixing damage caused by heavy rain, company officials said. The refinery shut Phase-III process units during the third week of August as a precautionary measure after a landslide caused by heavy rain. Not registered? Receive daily email alerts, subscriber Read More

BP CEO says he’ll sell oil projects to meet climate targets

5 days ago DieselGasoil Comments Off on BP CEO says he’ll sell oil projects to meet climate targets
By Kelly Gilblom on 9/12/2019 LONDON (Bloomberg) – BP’s CEO plans to sell some oil projects and curb the development of others to align its business with the Paris accord, the latest sign climate concerns are starting to impact the investment decisions of the world’s largest fossil fuel producers. Senior BP executives met within the Read More

OPEC+ faces ‘daunting’ market surplus in 2020, IEA says

5 days ago DieselGasoil Comments Off on OPEC+ faces ‘daunting’ market surplus in 2020, IEA says
By Alex Longley on 9/12/2019 LONDON (Bloomberg) – As OPEC and its allies meet in Abu Dhabi, the IEA said it faces a significant challenge in managing the market into 2020. Demand for the group’s crude in the first half of 2020 will be 1.4 MMbpd below its August output as production surges from their Read More

UAE’s Ruwais upgrade may boost naphtha, middle distillates output: OMV CEO

6 days ago DieselGasoil Comments Off on UAE’s Ruwais upgrade may boost naphtha, middle distillates output: OMV CEO
Abi Dhabi — An upgrade of the Ruwais refinery, Abu Dhabi National Oil Co.’s biggest processing facility, may help boost naphtha and middle distillates output thanks to the introduction of new crudes other than Murban, according to the CEO of OMV, one of three shareholders in ADNOC Refining. Not registered? Receive daily email alerts, subscriber Read More

Russia & China stockpiling gold because ‘they can read the writing on the wall’ – Peter Schiff

1 week ago DieselGasoil Comments Off on Russia & China stockpiling gold because ‘they can read the writing on the wall’ – Peter Schiff
Global central banks, particularly those in Russia and China, have been boosting their gold reserves at a rapid place lately. The trend is projected to continue due to trade tensions and market uncertainty. Russia, which was the world’s most committed purchaser of gold in 2018, has bought 106 tons of the precious metal this year. Read More

Russia now has more assets than debt, despite sanctions

1 week ago DieselGasoil Comments Off on Russia now has more assets than debt, despite sanctions
Thanks to steadily growing gold and foreign currency reserves, Russia’s debt-to-GDP ratio has turned negative for the first time since its economy was hit by Western sanctions and by the oil market crash of 2014. As of August 1, the state debt (at the federal, regional and municipal level) amounted to 16.2 trillion rubles (around Read More