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Oil firms as China's slowdown not as steep as some expected

53 mins ago DieselGasoil Comments Off on Oil firms as China's slowdown not as steep as some expected
SINGAPORE (Reuters) – Oil prices firmed on Monday after data showed China’s economic slowdown was not as big as some analysts had expected, with supply cuts led by the Organization of the Petroleum Exporting Countries also offering support. FILE PHOTO: A VLCC oil tanker is seen at a crude oil terminal in Ningbo Zhoushan port, Read More

International worries as China's consumption and economy slows

1 hour ago DieselGasoil Comments Off on International worries as China's consumption and economy slows
Picture China’s economy and you might be thinking of massive factories, gigantic airports or train stations built from scratch in 24 hours. For another view, you could follow Xu Liqiang as he threads the streets of Beijing in a beaten-up tuk-tuk (motorised rickshaw). Xu is 21 years old and a “kuaidi” (express delivery) driver. Each Read More

Oil dips as China's economy slows but OPEC-led cuts support

2 hours ago DieselGasoil Comments Off on Oil dips as China's economy slows but OPEC-led cuts support
SINGAPORE (Reuters) – Oil prices dipped on Monday as China reported its weakest annual economic growth in 28 years, although oil prices remain relatively well supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC). FILE PHOTO: A VLCC oil tanker is seen at a crude oil terminal in Ningbo Zhoushan Read More

API has projected continued growth of U.S. energy as the world leader verified by fourth-quarter natural gas, oil data

2 hours ago DieselGasoil Comments Off on API has projected continued growth of U.S. energy as the world leader verified by fourth-quarter natural gas, oil data
1/20/2019 Photo: BP Gulf of Mexico. WASHINGTON — Estimated total natural gas and oil well completions rose 23% in the fourth quarter of 2018 compared to year-ago levels, according to API’s 2018 Quarterly Well Completion Report, Fourth Quarter. “The data for the fourth quarter report confirm the rise in natural gas and oil well completions Read More

Oil dips on weak economic outlook, but OPEC-led cuts support

3 hours ago DieselGasoil Comments Off on Oil dips on weak economic outlook, but OPEC-led cuts support
SINGAPORE (Reuters) – Oil prices dipped on Monday, weighed down by expectations that China will report its weakest economic growth in almost three decades amid waning domestic demand and painful U.S. tariffs. FILE PHOTO: A VLCC oil tanker is seen at a crude oil terminal in Ningbo Zhoushan port, Zhejiang province, China May 16, 2017. Read More

Canadian oil surge fails to lift producers out of the doldrums

3 hours ago DieselGasoil Comments Off on Canadian oil surge fails to lift producers out of the doldrums
By Kevin Orland on 1/20/2019 Photo: Whitecap Resources. CALGARY (Bloomberg) — Alberta’s crude curtailment plan has caused a dramatic rise in the price of heavy Canadian oil. But for shares of energy companies, it hasn’t been as much of a help. Since the production curtailment was unveiled early last month, Western Canadian Select crude has Read More

How OPEC is helping U.S. oil reach a tipping point

4 hours ago DieselGasoil Comments Off on How OPEC is helping U.S. oil reach a tipping point
By Julian Lee on 1/20/2019 Photo: OPEC building. NEW YORK (Bloomberg Opinion) — The U.S. Energy Information Administration has published its first detailed monthly oil forecast for 2020 and it shows something that should strike fear into the hearts of OPEC ministers — from the fourth quarter, America will export more oil than it imports. Read More

Nigeria's state oil company seeks $4.1 billion to lift output

4 hours ago DieselGasoil Comments Off on Nigeria's state oil company seeks $4.1 billion to lift output
By Elisha Bala-Gbogbo on 1/20/2019 Photo: Egina field, Total. ABUJA, Nigeria (Bloomberg) — Nigeria’s state-owned oil company said it’s in talks with financiers to raise as much as $4.1 billion and will seek to sign service deals to increase production from three leases. The Nigerian National Petroleum Corp., or NNPC, is in discussions with Lagos-based Read More

German arms manufacturer to sue govt over weapons deliveries’ halt to Saudi Arabia – report

8 hours ago DieselGasoil Comments Off on German arms manufacturer to sue govt over weapons deliveries’ halt to Saudi Arabia – report
Berlin might face a lawsuit from one of Germany’s largest defense contractors, Rheinmetall, over its decision to halt all arms deals with Riyadh in the wake of the murder of Saudi journalist Jamal Khashoggi, Der Spiegel reports. Rheinmetall AG might file a claim for compensation against the federal government worth millions of euro, the company Read More

Ghosn may have had questionable ethics, co-chair of external Nissan probe says

12 hours ago DieselGasoil Comments Off on Ghosn may have had questionable ethics, co-chair of external Nissan probe says
TOKYO (Reuters) – The co-chair of a committee set up by Japanese automaker Nissan Motor Co (7201.T) to examine the root cause of alleged financial misconduct by ousted chairman Carlos Ghosn said he believed Ghosn may have had questionable ethical standards. FILE PHOTO: The logos of car manufacturers Renault and Nissan are seen in front Read More