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Oil and Energy

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.
2 January 06:44 PM Gazprom’s exports outside Post-Soviet area shrink 1.3% YoY in 2019
Mubasher: Russian Gazprom’s gas exports by pipeline to countries outside Post-Soviet states declined by 1.3% year-on-year to 199.2 billion cubic metres (BCM) in 2019.
28 December 2019 06:20 PM Sinochem Energy to sell $1.65bn stake to 5 Chinese firms
Mubasher: Sinochem Energy, a subsidiary of Sinochem Group, has reached an agreement to sell a 20% stake to five companies owned by the Chinese government.
26 December 2019 04:18 PM US’ KKR buys 65% equity interest in Canadian gas project
Mubasher: American global investment firm KKR signed a definitive agreement to acquire a 65% equity interest in the Coastal GasLink Pipeline Project in Canada.
21 December 2019 09:05 PM Gazprom to pay $2.9bn to Ukraine under 5-yr gas deal
Mubasher: Russia and Ukraine have sealed a deal enabling Moscow to import gasoline to Europe through Ukraine for five years, Deutsche Welle reported on Saturday.
20 December 2019 08:09 PM MEA’s gas engine market to grow 8.67% in 2019-2027
Mubasher: The gas engine market in the Middle East and Africa is expected to achieve a compound annual growth rate (CAGR) of 8.67% in 2019-2027.
16 December 2019 04:48 PM Africa may see strong licensing round activity in 2020 -GlobalData
Mubasher: Africa has seen the highest licensing round activity throughout 2019, despite the limited success of recent rounds on a global scale.
13 December 2019 10:53 PM Oil futures end 89 cents higher on Friday
​​​​​​​Mubasher: Oil futures went up at Friday’s settlement, rising 1.5% for the week, as US President Donald Trump announced reaching a trade agreement with China.
11 December 2019 05:36 PM OPEC produces less barrels in November on lower Saudi output
Mubasher: Member states of the Organization of the Petroleum Exporting Countries pumped lower number of barrels in November.
7 December 2019 04:39 PM OPEC+ output cuts may be eased on drop in inventories
Mubasher: OPEC+ output cuts are expected to be eased after global inventories drop and prices reflect a tighter market, Saudi energy minister said.
6 December 2019 10:53 PM Oil futures mark highest settlement in over 2M on Friday
Mubasher: Oil futures recorded the highest settlement since 17 September on Friday, surging 7.3% for the week. 
6 December 2019 07:38 PM Nevada’s public utilities commission approves $1bn solar project
Mubasher: Nevada’s public utilities commission has approved 25-year Power Purchase Agreement for 690 megawatts AC Gemini Solar + Battery Storage Project in Clark County.
6 December 2019 04:57 PM Saudi Arabia leads OPEC+ to agree on more output cuts
Mubasher: OPEC+ agreed to adjust output target and redistribute production cuts between its members, Bloomberg reported on Friday.
5 December 2019 07:53 PM Ten wild predictions that could change global economy in 2020
4 December 2019 02:55 PM OPEC losing grip on global market; Non-members are the culprit
Mubasher: Non-OPEC countries have been increasing their oil output over time, compromising the organisation ability to control the global market.
4 December 2019 01:57 PM Increasing awareness about solar power can benefit hotel industry -Swiss-Belhotel
Mubasher: The SVP, Operations and Development of Swiss-Belhotel International, Laurent A. Voivenel, delivered an outstanding presentation at The Big 5 Solar conference.
4 December 2019 00:53 PM World’s crude inventories seen swelling, without further OPEC+ cuts–Report
Mubasher: Crude stockpiles worldwide could swell substantially and oil prices could plunge consequentially, if the world's major producers fail to agree on further supply cuts.