Author Archives: Gary Foret
Africa’s Most Populated Nation Getting Nothing out of Massive Oil Wealth
Africa’s most populated country is getting nearly nothing from its massive oil wealth. While headline Brent-crude futures have rallied sharply in the past few weeks -- growing above $30/barrel Tuesday…
US Crude Oil Price Is Falling
US crude oil jumped greater than $20 per barrel on Tuesday however, nonetheless traded beneath $0 after plunging into the detrimental territory for the primary time in historical past, dragged…
Petrobras Says Discussions Among Saudi, Russia are of No Use For Oil Prices
Recent discussions involving leaders from major oil-producing countries and the will prove irrelevant for oil prices that are low due to depressed demand, the CEO of Brazil’s Petrobras stated Thursday evening.…
Saudi Aramco Contemplating Sale of $10 Billion Pipeline to Raise Cash
Saudi Aramco, the world’s most significant oil producer, is weighing the sale of a stake in its pipeline unit to raise cash amid a plunge in crude prices, based on…
U.S. to Buy Crude for Strategic Petroleum Reserve After Two Weeks
The US might start purchasing the produced crude oil for the Strategic Petroleum Reserve (SPR) in two weeks from now, and fill it in some months, an Energy Division source…
China Is a Plain to Exempt Tariff from U.S. Oil and LNG
China has opened for purposes for tariff exemptions on numerous merchandise and commodities together with crude oil and liquefied pure fuel, Reuters reported at present. Tariffs have been blamed for…
Oil Plunges Below $57 Following Coronavirus and OPEC+ Cuts Delays
Oil dropped below $57 per barrel Tuesday, pressured by concerns over the impact on oil demand from the coronavirus epidemic in China and a lack of further action by OPEC…
US is letting out its Strategic Petroleum Reserve
US President Donald Trump’s administration has proposed promoting 15 million barrels of crude oil from the Strategic Petroleum Reserve (SPR), in accordance with the White House budget proposal for the…
Navitas Petroleum Alliance Raises NIS 271 Million for Shenandoah Project
The Navitas Petroleum collaboration, led by chairperson Gideon Tadmor, raised NIS 271 million in the institutional stage of an offering of participation items this morning. The alliance offered units at…
China Passes Long Held Tax Waiver for Cleaner Ship Fuel Exports
China has cleared a long-awaited tax waiver on exports of cleaner ship fuel, paving the way for refiners to increase output. However, Beijing may initially curb shipments to focus on…