Crude Oil

  • Investors Suggest Big Oil Firms to Break Dividend Taboo As Debt Elevates

    Investors Suggest Big Oil Firms to Break Dividend Taboo As Debt Elevates

    The world’s most significant oil and gas companies should break a business taboo and consider reducing dividends, somewhat than taking on any extra debt to maintain payouts as they weather the fallout from the coronavirus pandemic, traders say. The top five so-called oil giants have avoided decreasing dividends for years to keep traders sweet and added a $25 billion collectively…

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  • Oil to Fall Lowest Since 2008 Financial Crisis Despite Rising Over 3%

    Oil to Fall Lowest Since 2008 Financial Crisis Despite Rising Over 3%

    Oil prices had been set for their worst weekly drop since the 2008 financial crisis, regardless of rising over 3% Friday, as investors worried over evaporating demand from the coronavirus pandemic and a production increase by top producers. Brent crude was up $1.12, i.e., 3.4%, at $34.33 per barrel after tanking over  7% Thursday. For the week, Brent is set…

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  • Oil State Senators Urge Trump Administration to Revoke Decision to End Biofuel Waivers

    Oil State Senators Urge Trump Administration to Revoke Decision to End Biofuel Waivers

    The oil sector and its Capitol Hill aides are pressing the Trump administration to defend its decision to eliminate oil refineries from requirements they mix biofuels into gasoline and diesel. The administration has time until the next Monday to request the 10th Circuit U.S. Appeals Court to rehear a verdict that threatens to reduce the use of waivers. Republican senators…

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  • US Oil and Gas Sector Affected Massively by Coronavirus

    US Oil and Gas Sector Affected Massively by Coronavirus

    The worldwide vitality sector is sick due to the coronavirus. However, the illness might have its most deleterious impact on the U.S. oil and gas industries, on condition that the president is making an attempt to stress China to purchase more U.S-produced fossil fuels. China’s concessions throughout commerce talks are doubtful. However, the coronavirus makes them much more uncertain. And…

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  • Asian VLSFO Comes Down After Enjoying Record Peaks

    Asian VLSFO Comes Down After Enjoying Record Peaks

    Asia’s market for very low-sulfur fuel oil (VLSFO) has departed from its record peaks near the beginning of the year, as demand crumbles under seasonal elements and an outbreak in China. At the same time, supply expectations improve, analysts and traders stated. Cooling VLSFO prices are an early signal of stabilizing market fundamentals after months of dryness triggered by the…

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  • China Virus Affects the Crude Oil Market

    China Virus Affects the Crude Oil Market

    International oil demand will endure its first quarterly drop in a decade because the COVID-19 virus lashes the economic system in China, and its impression ripples all through the world, the IEA mentioned. Whereas the IEA nonetheless expects demand for oil to develop for this year because the outbreak is restrained, it slashed its forecast for the rise in world…

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  • Eagle LNG EPC Chooses Matrix Services

    Eagle LNG EPC Chooses Matrix Services

    Eagle LNG’s Jacksonville LNG Export Center, which will require a funding of $500 million based on remaining design, will even utilize Chart Industries’ technology and liquefaction equipment know-how. The facility may have a production capacity of approximately 1.65 million gal./d of LNG with 12 million gal of storage, a marine terminal, and truck-loading capabilities. LNG provides significant environmental and economic…

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  • Russia Hits Record Oil Production for Post-Soviet Era Despite OPEC+ Cuts

    Russia Hits Record Oil Production for Post-Soviet Era Despite OPEC+ Cuts

    Crude oil and condensate production in Russia reached a record high for the post-Soviet era last year, regardless of Moscow’s key role in supporting the ongoing output cuts of the OPEC+ alliance. Based on figures from Russia’s energy ministry, Russia produced 11.25 million barrels per day (BPD) of crude oil and condensate in 2019—up from 11.16 million BPD a year…

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  • Saudi Think on Cutting Light Crude Prices by 20-30 Cents

    Saudi Think on Cutting Light Crude Prices by 20-30 Cents

    Saudi Arabia, the world’s biggest oil well, could cut the costs of its light crude delivered to Asian countries in February on indicators of slowing demand ahead of the area’s peak refinery maintenance season, six trade sources stated. The original selling price (OSP) of flagship Arab Light crude in February may plunge by 20-30 cents per barrel, four of six…

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  • Demand of Oil Raises the Oil Rates of The US Gulf Coast, Hitting A New Record

    Demand of Oil Raises the Oil Rates of The US Gulf Coast, Hitting A New Record

    Oil freight charges from the US Gulf Coast for Aframax crude tankers hit a new file this week, in accordance with shipbrokers cited by Reuters, as demand will increase for US crude oil sure for Europe and the Mediterranean in entrance of the brand new IMO 2020 guidelines that can go into impact in simply a few weeks. Last week,…

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