prices | Egypt Oil & Gas - Part 4
Canada Oil Sand Fields Gradually Return
Workers for one of the largest oil sands companies affected by a wildfire in northern Canada started to return to the shuttered facilities on May 12th, a union official said, the latest indication the key petroleum pr...
Saudi Arabia Hikes Asian Oil Prices
Saudi Arabia raised its pricing for June oil sales to Asia by the most since April 2015, a sign that the world’s biggest crude exporter expects demand to recover, Bloomberg reported. Saudi Aramco increased its officia...
Royal Dutch Shell Cuts Spending after Profits Fall
Royal Dutch Shell will cut its spending by another 10% this year as it warned lower oil prices were continuing to affect its business. The company said it would reduce investment to $30b from a planned $33b, after com...
Engie Ordered to Raise Prices
Following a complaint by rival Direct Energie, the French competition authority has ordered Engie to raise its natural gas prices for companies, saying that in some cases the utility was engaging in “predatory pricing...
Low Oil Prices Forces IMF to Cut Global Growth Forecast Again
The International Monetary Fund (IMF) has cut its outlook for 2016 economic growth for the fourth time in the past year, citing low oil prices, China’s slowdown, and chronic weakness in advanced economies. The lender ...
Crude Prices Jumped to 2016 Highs Ahead of Oil Majors’ Meeting
Crude oil prices jumped on 12th April and closed at 2016 highs after reports that Saudi Arabia and Russia have reached an agreement on an oil-production freeze, Business Insider informed. West Texas Intermediate crude...
Latin America Calls for Steps to Improve Oil Prices
Latin American oil producers, including main exporters such as Venezuela, Colombia, Ecuador, and Mexico, asked to take the necessary steps to stabilize the global crude market in a bid to improve prices for the benefi...
Europe’s Banks Hold Fewer Risky Energy Assets Than US Rivals
European banks’ energy exposure of over $306b is “manageable” and made up of less risky assets than those held by US rivals, according to a new report by rating agency Moody’s, The Financial Times reported. Moody’s an...
