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Costly Saudi defenses prove no match for drones, cruise missiles

2 hours ago DieselGasoil Comments Off on Costly Saudi defenses prove no match for drones, cruise missiles
RIYADH/DUBAI (Reuters) – Billions of dollars spent by Saudi Arabia on cutting edge Western military hardware mainly designed to deter high altitude attacks has proved no match for low-cost drones and cruise missiles used in a strike that crippled its giant oil industry. Smoke is seen following a fire at Aramco facility in the eastern Read More

FACTBOX: Oil falls after Saudi Arabia calms market over restoring supplies

5 hours ago DieselGasoil Comments Off on FACTBOX: Oil falls after Saudi Arabia calms market over restoring supplies
London — Oil prices fell Tuesday, giving back more than half of Monday’s surge, after Saudi energy minister Prince Abdulaziz bin Salman said he expects most of the country’s lost crude production to be restored within two weeks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The fast recovery Read More

Saudi Arabia to restore oil output fully by end of September: energy minister

7 hours ago DieselGasoil Comments Off on Saudi Arabia to restore oil output fully by end of September: energy minister
JEDDAH, Saudi Arabia (Reuters) – Saudi Arabia will restore its lost oil production by the end of September and has managed to recover supplies to customers to the levels they were at prior to weekend attacks on its facilities by drawing from its huge oil inventories. Saudi Energy minister Prince Abdulaziz bin Salman speaks during Read More

Saudi Arabia to restore 11 million b/d production capacity within two weeks: energy minister

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Highlights Abqaiq is processing some 2 million b/d Oil prices fall after Saudi attack update Aramco IPO plan still set for next 12 months London — Saudi Arabia expects to restore most of the crude production affected by attacks on two of its key oil facilities within two weeks, the country’s energy minister said Tuesday, Read More

Vale misled public on dangerous dams, prompting Brazil probe: source

9 hours ago DieselGasoil Comments Off on Vale misled public on dangerous dams, prompting Brazil probe: source
RIO DE JANEIRO/BRASILIA/SAO PAULO (Reuters) – Faced with public outrage after its second mining dam collapse in four years killed at least 240 people in Brazil, Vale SA misrepresented what it had done to shut down its riskiest dams, a review of the company’s statements shows. The logo of the Brucutu mine owned by Brazilian Read More

Saudi Arabia to restore 11 million b/d production capacity by end September: energy minister

9 hours ago DieselGasoil Comments Off on Saudi Arabia to restore 11 million b/d production capacity by end September: energy minister
London — Saudi Arabia expects to restore its oil production capacity to 11 million b/d by the end of end of September and recover its full capacity to 12 million b/d two months later, the country’s energy minister Prince Abdulaziz bin Salman said Tuesday. Not registered? Receive daily email alerts, subscriber notes & personalize your Read More

Crude settles lower as Saudis say able to restore full production capacity by end-November

9 hours ago DieselGasoil Comments Off on Crude settles lower as Saudis say able to restore full production capacity by end-November
New York — Crude futures settled lower Tuesday on news that Saudi Arabia will be able to restore its full crude production capacity by the end of November. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX front-month crude settled $3.56 lower at $59.34/b, while ICE front-month Brent settled Read More

Amazon starts hiring own drivers in German last-mile delivery push

12 hours ago DieselGasoil Comments Off on Amazon starts hiring own drivers in German last-mile delivery push
MANNHEIM, Germany (Reuters) – Amazon has begun hiring its own drivers in Germany and plans to open 11 more distribution centers to expand its delivery business in its second biggest market, the firm’s German logistics chief said in an interview. An outside view of an Amazon logistics centre in Mannheim, Germany, September 17, 2019. REUTERS/Ralph Read More

Saudi oil output to recover in two or three weeks after attack: sources

13 hours ago DieselGasoil Comments Off on Saudi oil output to recover in two or three weeks after attack: sources
LONDON/DUBAI (Reuters) – Saudi Arabia sought to calm markets on Tuesday after an attack on its oil facilities, with sources in the kingdom saying output was recovering much more quickly than initially forecast and could be fully back in two or three weeks. A satellite image showing damage to oil/gas Saudi Aramco infrastructure at Abqaiq, Read More

Iran rules out talks as Trump blames Tehran for Saudi oil attack

14 hours ago DieselGasoil Comments Off on Iran rules out talks as Trump blames Tehran for Saudi oil attack
DUBAI/WASHINGTON (Reuters) – Iran’s supreme leader on Tuesday ruled out talks with Washington after President Donald Trump blamed Tehran for a crippling attack on Saudi Arabia’s oil facilities. Iran’s Supreme Leader Ayatollah Ali Khamenei gives a speech to a group of scholars and seminary students of religious sciences in Tehran, Iran September 17, 2019. Official Read More