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Oil and Commodities

13 October 05:08 PM OPEC lowers 2021 world oil demand forecast amid COVID-19
OPEC has cut its 2021 world oil demand growth forecast by 0.08 million barrels per day (bpd).
5 October 04:28 PM Siemens, Macquarie units launch US distributed energy JV
Macquarie’s Green Investment Group (GIG) and Siemens’ Smart Infrastructure (SI) and Financial Services (SFS) are forming a new joint venture (JV) named Calibrant Energy.
30 September 03:35 PM Shell plans up to 9K job cuts in low-carbon transition
Royal Dutch Shell on Wednesday said that it plans to cut up to 9,000 jobs, or over 10% of its workforce.
3 June 05:30 PM Saudi Arabia, Russia near agreement to extend oil output cut
Saudi Arabia and Russia have reportedly agreed on a preliminary deal to extend the current crude oil output curbs for another month.
5 March 06:23 PM OPEC raises crude output cuts
OPEC has extended output curbs and increased production cuts by an additional 1.5 million barrels per day (b/d) until 30 June 2020.
21 February 07:32 PM Chinese solar industry may rebound in 2020
​​​​​​​Mubasher: The China Photovoltaic Industry Association (CPIA) expects the country’s new installations to reach a range between 35 and 45 gigawatts in 2020.
20 February 05:28 PM Global LNG demand forecast to double by 2024 – Shell
Mubasher: Global demand for liquefied natural gas (LNG) is forecast to double to 700 million tonnes by 2040.
16 February 12:13 AM Saudi Aramco changes frequency of fuel’s price review cycle
Riyadh – Mubasher: Saudi Aramco has changed the frequency of the price review cycle to be conducted monthly instead of quarterly, effective 16 February 2020.
15 February 11:20 PM Omani crude oil output falls 1.26% MoM in January 2020
Mubasher: Oman’s daily production of crude oil and condensates declined by 1.26% month-on-month (MoM) to 958,270 barrels in January 2020.
6 February 10:19 PM OPEC+ may propose more output cut as coronavirus impacts demand
Mubasher: OPEC+ JTC is set to propose a cut of 600,000 bpd in output, in response to the coronavirus’ impact on global energy demand.
6 February 01:17 PM Total, India’s AGEL to form joint venture at $500m
Mubasher: Total is expanding its partnership with Adani Green Energy Limited (AGEL), India's largest privately-owned energy and infrastructure conglomerate.
31 January 10:03 PM UK-EU hydrocarbon ties safe from post-Brexit storm
Mubasher: Brexit is not likely to have a major impact on the kingdom’s hydrocarbon ties with the EU, data and analytics company GlobalData said.
30 January 06:22 PM Schneider Electric, Qbera Capital partner to support solar energy projects
Schneider Electric Solar Spain and Qbera Capital have entered into a strategic alliance to support solar energy growth across a number of markets
25 January 07:23 PM Oil prices to soften in 2020 as geopolitical tension mitigated
Mubasher: Global oil prices are expected to decline during the first six months of 2020, according to a report released on Saturday by the NBK.
24 January 06:48 PM Fear arises as Brexit impact on power sector still unclear
Mubasher: The UK’s power sector is drowning in uncertainty, as investors anticipating risks and impacts associated with the beginning of the post-Brexit era.
23 January 06:19 PM Global hydrocarbon investments to focus on LNG in 2020
Mubasher: The final investment decisions (FIDs) in the oil and gas sector are expected to be focused on liquefied natural gas (LNG) projects during 2020.
22 January 07:27 PM US’ Hilco Redevelopment Partners buys $240m refinery in Philadelphia
Mubasher: American real estate developer Hilco Redevelopment Partners has sealed a $240 million deal to buy the Philadelphia Energy Solutions oil refinery.
14 January 09:55 PM OPEC+ may postpone March meeting to June
Mubasher: OPEC and its allies are expected to postpone an upcoming policy meeting from March to June, Reuters reported on Tuesday.
10 January 11:19 PM Oil settles 52 cents lower on Friday
Mubasher: Oil futures fell at Friday’s settlement, plummeting 6.4% for the week.  
9 January 08:22 PM Iran to lead Middle East in pipeline length additions
Mubasher: Iran is expected to top countries in the Middle East in terms of oil and gas new-build trunk/transmission pipeline length additions.
9 January 05:59 PM Asia to comprise 50% in petrochemical growth by 2030 –GlobalData
Mubasher: In terms of capacity growth in the petrochemical industry between 2019 and 2030, Asia is forecast to lead globally.
8 January 11:31 AM Nigeria may contribute 35% of Africa's transmission pipeline – GlobalData
Mubasher: Nigeria may contribute about 35% of Africa’s total planned and announced oil and gas new-build trunk/transmission pipeline length additions until 2023.
7 January 08:45 PM Emirati business conglomerate invents new energy technology
Mubasher: The collaboration between UAE’s Sulaiman Al Fahim Group and Australian scientists has yielded brand new technology to save the environment and also fuel saving.
3 January 10:53 PM Middle East tensions boost oil prices at Friday’s settlement
Mubasher: Oil futures settled higher on Friday, rising 2.2% for the week, as tensions mount in the region after the US targeted an Iranian general.
3 January 06:35 PM Exxon Mobil may gain $3.6bn from selling assets in Norway
Mubasher: Exxon Mobil is expecting to generate profits ranged between $3.4 billion and $3.6 billion from the sale of assets in Norway.