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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

6 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 11 million b/d production capacity within two weeks: energy minister

8 hours ago DieselGasoil Comments Off on Saudi Arabia to restore 11 million b/d production capacity within two weeks: energy minister
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

‘Crazy’ for Polish PM to suggest Nord Stream 2 pipeline is a ‘threat’ to European energy security

9 hours ago DieselGasoil Comments Off on ‘Crazy’ for Polish PM to suggest Nord Stream 2 pipeline is a ‘threat’ to European energy security
It is “rubbish” for Polish PM Mateusz Morawiecki to claim that the Nord Stream 2 pipeline, which will deliver a supply of cheap gas from Russia to the EU, is a “threat” to European energy security, analyst John Laughland told RT. Morawiecki said at a press conference on Tuesday that the pipeline, currently under construction, Read More

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

10 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

10 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

10 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

Brent below $65/b on report Saudi Arabia to return output in 2-3 weeks

11 hours ago DieselGasoil Comments Off on Brent below $65/b on report Saudi Arabia to return output in 2-3 weeks
New York — Brent crude futures tumbled below $65/b in US morning trading Tuesday following a report from Reuters that Saudi Arabia’s crude production would return in the next two to three weeks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 1420 GMT, NYMEX front-month crude was trading Read More

Wall Street subdued as focus shifts to Fed

11 hours ago DieselGasoil Comments Off on Wall Street subdued as focus shifts to Fed
(Reuters) – U.S. stocks were modestly lower on Tuesday as investors moved to the sidelines ahead of the Federal Reserve’s two-day policy meeting, while the impact of weekend attacks on Saudi Arabia’s biggest oil refinery faded. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 17, 2019. Read More

Wall Street falls as energy drags; focus shifts to Fed meeting

14 hours ago DieselGasoil Comments Off on Wall Street falls as energy drags; focus shifts to Fed meeting
(Reuters) – U.S. stocks edged lower on Tuesday as a drop in oil prices weighed on the energy sector, while investors stayed away from making big bets ahead of the Federal Reserve’s two-day policy meeting, where it is widely expected to cut interest rates. Traders work on the floor at the New York Stock Exchange Read More