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US shale an ‘unmitigated disaster’ with industry hundreds of billions in debt – shale pioneer

27 mins ago DieselGasoil Comments Off on US shale an ‘unmitigated disaster’ with industry hundreds of billions in debt – shale pioneer
Fracking has been an “unmitigated disaster” for shale companies themselves, according to a prominent former shale executive. “The shale gas revolution has frankly been an unmitigated disaster for any buy-and-hold investor in the shale gas industry with very few limited exceptions,” Steve Schlotterbeck, former chief executive of EQT, a shale gas giant, said at a petrochemicals conference Read More

Oil prices in balance between demand worries, U.S.-Iran tensions

57 mins ago DieselGasoil Comments Off on Oil prices in balance between demand worries, U.S.-Iran tensions
LONDON (Reuters) – Oil prices hung in the balance on Tuesday as concerns over declining crude demand were offset by risks to supply linked to new U.S. sanctions on Iran. FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. Picture taken December 7, Read More

US shale an “unmitigated disaster” with industry hundreds of billions in debt – shale pioneer

1 hour ago DieselGasoil Comments Off on US shale an “unmitigated disaster” with industry hundreds of billions in debt – shale pioneer
Fracking has been an “unmitigated disaster” for shale companies themselves, according to a prominent former shale executive. “The shale gas revolution has frankly been an unmitigated disaster for any buy-and-hold investor in the shale gas industry with very few limited exceptions,” Steve Schlotterbeck, former chief executive of EQT, a shale gas giant, said at a petrochemicals conference Read More

HSBC-backed startup aims to become LinkedIn of global trade

4 hours ago DieselGasoil Comments Off on HSBC-backed startup aims to become LinkedIn of global trade
HONG KONG (Reuters) – In a first of its kind initiative, HSBC Holdings Plc is backing the launch of a technology startup that aims to connect small-and-medium-sized manufacturers with component suppliers in different parts of the world as part of its trade banking push. Hong Kong-based Serai, which is a wholly-owned subsidiary of Europe’s biggest Read More

Oil prices drop amid demand worries, but U.S.-Iran tensions support

6 hours ago DieselGasoil Comments Off on Oil prices drop amid demand worries, but U.S.-Iran tensions support
TOKYO (Reuters) – Oil fell on Tuesday amid concerns over the outlook for crude demand, but prices were supported after Washington announced new sanctions on Iran amid mounting tensions in the Middle East. FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. Picture Read More

India annuls Israeli missile deal in favor of domestic alternative… again?

7 hours ago DieselGasoil Comments Off on India annuls Israeli missile deal in favor of domestic alternative… again?
India has reportedly canceled its $500 million contract for Israeli anti-tank missiles after the country’s defense manufacturing sector conducted successful tests and promised to deliver an indigenous alternative within two years. Following a series of successful trials of the man-portable anti-tank guided missile (MPATGM) by the Defense Research and Development Organization (DRDO), India has notified Read More

Brazil’s refinery output sinks on year in May

7 hours ago DieselGasoil Comments Off on Brazil’s refinery output sinks on year in May
Brazil’s output of refined-oil products tumbled year on year in May as weak growth in Latin America’s largest economy continued to undermine demand, National Petroleum Agency data showed Monday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Refineries produced 55.5 million barrels of diesel (gasoil), gasoline and other products Read More

Oil prices steady, U.S.-Iran tensions remain in focus

8 hours ago DieselGasoil Comments Off on Oil prices steady, U.S.-Iran tensions remain in focus
TOKYO (Reuters) – Oil prices were steady on Tuesday, supported by worries over conflict between Iran and the United States but pressured by concerns about a potential decline in demand for crude. FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. Picture taken Read More

WTI structure strengthens as Middle East tensions simmer

13 hours ago DieselGasoil Comments Off on WTI structure strengthens as Middle East tensions simmer
New York — The NYMEX WTI forward structure continued to strengthen Monday after the front-month contract settled at a three-week high in a turbulent session. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX August WTI settled up 47 cents at $57.90/b, while ICE August Brent was still down Read More