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Oil and Commodities

19 May 03:09 PM BP, Eni in talks to merge Angolan oil, gas interests
BP and Eni have inked a non-binding MoU to enter into talks to combine their upstream portfolios in Angola.
17 February 01:49 PM Maersk to launch world's first carbon-neutral liner vessel in 2023
Maersk will accelerate plans to decarbonise sea-borne container shipping by putting the world’s first carbon-neutral vessel into operation in 2023.
9 February 12:26 PM Total records 66% lower profits in 2020 due to COVID-19
The net profits of France's Total plunged by 66% to $4.059 billion in 2020, compared to $11.828 billion in 2019.
4 February 04:54 PM Shell's profits down 71% in 2020; dividends raised
The net profits of Royal Dutch Shell plunged by 71% year-on-year (YoY) to $4.8bn in 2020.
19 January 01:53 PM IEA lowers 2021 global oil demand outlook amid COVID-19
Global oil demand is forecast to recover by 5.5 million barrels per day (mb/d) to 96.6 mb/d in 2021.
16 November 2020 03:44 PM OPEC+ starts meetings to support oil market amid COVID-19
OPEC+, are holding meetings starting on Monday to highlight ways to support the oil market in 2021 amid the surge of Coronavirus (COVID-19) again.
12 November 2020 01:27 PM IEA says coronavirus vaccines unlikely to rescue oil market soon
The International Energy Agency said it does not expect the prospect of a coronavirus vaccine to significantly boost oil demand until well into next year.
2 November 2020 02:16 PM China may account for highest petrochemical capacity additions by 2030
The global petrochemical capacity is set to witness a 42% growth by 2030.
13 October 2020 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 2020 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 2020 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 2020 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 2020 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 2020 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 2020 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 2020 00:13 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 2020 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 2020 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 2020 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.