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Novak says commercial oil stocks enough to cover Saudi losses

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Moscow — Russian energy minister Alexander Novak said Monday that commercial oil stocks are sufficient to cover any deficit in the market as a result of attacks on Saudi oil infrastructure, the Prime news agency reported. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “At present, there are enough Read More

Attacks on Saudi oil risk lowering Aramco IPO valuation

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By Shaji Mathew, Filipe Pacheco and Sarah Algethami on 9/15/2019 DUBAI (Bloomberg) – As bankers discussed Saudi Aramco’s initial public offering at the Ritz Carlton hotel in Dubai last week, a drone attack was being planned to hit the heart of its operations over the weekend. It caused Saudi Arabia to halve its oil output Read More

Saudi attacks highlight risks in buying shares of Aramco IPO, sources say

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Dubai — The attacks on Saudi Arabia’s oil plants highlight the risks of buying shares in the kingdom’s state oil giant Saudi Arabian Oil Co., analysts and other sources said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Drone attacks hit two Aramco oil sites in Abqaiq and Khurais Read More

UAE aviation authority not optimistic Boeing 737 MAX will return this year

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FILE PHOTO: The company logo for Boeing is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 11, 2019. REUTERS/Brendan McDermid/File Photo DUBAI (Reuters) – The head of the United Arab Emirates’ General Civil Aviation Authority said on Sunday he was not optimistic the Boeing Read More

Crude futures rangebound amid Iran sanction talks, IEA report; Brent at $60.31/b

3 days ago DieselGasoil Comments Off on Crude futures rangebound amid Iran sanction talks, IEA report; Brent at $60.31/b
London — Crude oil futures remained rangebound Friday in mid-morning European trade, as the market digests the possibility of sanction relief on Iran and the International Energy Agency’s bearish supply and demand report, implying a supply glut in early 2020. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At Read More

ADNOC, ICE to launch Murban crude futures on Abu Dhabi exchange in H1 2020

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Singapore — Abu Dhabi National Oil Company and the Intercontinental Exchange plan to launch a futures contract for Abu Dhabi’s flagship Murban crude in the first half of 2020, two people with direct knowledge of the matter said Friday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “ICE is Read More

A fresh prince of OPEC brings a change in Saudi oil diplomacy

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London — OPEC has a new sheriff in town, Saudi energy minister Prince Abdulaziz bin Salman, who speaks softly but wields a big stick. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Making his debut as co-chair of a key OPEC/non-OPEC committee Thursday but hardly a debutant to oil Read More

APPEC: PetroChina to suspend direct imports of Venezuelan crude but China has other options

3 days ago DieselGasoil Comments Off on APPEC: PetroChina to suspend direct imports of Venezuelan crude but China has other options
Singapore — State-run PetroChina will suspend directly buying crude oil from Venezuela, in accordance with US sanctions on the South American producer, but China will continue to procure Venezuelan oil through other means, company and industry sources said on the sidelines of the S&P Global Platts Asia Pacific Petroleum Conference in Singapore this week. Not Read More

Crude oil futures edge lower after OPEC meet, IEA report

3 days ago DieselGasoil Comments Off on Crude oil futures edge lower after OPEC meet, IEA report
Singapore — Crude oil futures were marginally lower during mid-morning trade in Asia Friday after an OPEC meeting on Thursday that saw no further cuts in crude production and bearish market reports on oil fundamentals. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Ongoing trade tensions between the US Read More

OPEC+ members pledge to do better on quota compliance, but no new oil cuts

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Abu Dhabi — Saudi Arabia’s new energy minister Prince Abdulaziz bin Salman on Thursday prevailed on two of the coalition’s most recalcitrant members — Iraq and Nigeria — to bring their oil production down closer to their quotas, in what delegates said would amount to a 400,000 b/d output cut to help shore up slumping Read More