The deal announced Friday comes with US crude prices up 40% this year and vaults Chevron into a new league.
Opec and its oil-producing allies shifted on Monday towards extending their daily output caps, sending oil prices racing higher before the outcome of the group’s official gathering.
Many Arabian oil exporters have begun to increase their offshore spending after nearly five years of massive cutbacks, according to a Seatrade Maritime report titled ‘Middle East Offshore Market on the Move.’
Al Dhafra Petroleum, a joint venture between the Abu Dhabi National Oil Company (Adnoc), the Korea National Oil Company (KNOC) and GS Energy, and one of Adnoc’s youngest operating companies, announced that it has begun producing crude oil
Saudi Arabia raised the local price for Octane 95 to 2.10 riyals from 2.02 riyals last quarter and Octane 91 to 1.44 riyals from 1.37 riyals per litre, state oil firm Saudi Aramco said on Saturday. The change goes into effect on Sunday (April 14), the company said in a statement,
The plunge in eurozone business activity caused by lockdowns imposed to stop the spread of the coronavirus eased sharply last month as more businesses reopened and people ventured out, a survey showed on Friday.
The UAE’s property sector performing well in the current challenging times of COVID-19 pandemic. The UAE government has announced various incentives and initiatives to mitigate the impact of coronavirus on national economy.
Reliance Industries Limited (RIL) and Jio Platforms Limited on Friday announced that Intel Capital will invest Rs1,894 crore in Jio Platforms at an equity value of Rs4.91 lakh crore and an enterprise value of Rs5.16 lakh crore.
China’s services sector expanded at the fastest pace in over a decade in June as the easing of coronavirus-related lockdown measures revived consumer demand, a private survey showed on Friday, though companies continued to shed jobs.