Traders are optimistic about the prospects for a bullish summer as consumption snaps back with travel re-opening. As a result, much of Wall Street is calling for higher prices in the coming months, with Goldman Sachs Group Inc. talking up the prospects of $80 a barrel. SourceContinue Reading
Crude is up over 4% so far this month, though a further price breakout is being held back by a tepid recovery in Asia, where the coronavirus is crippling key importer India, and Singapore and Taiwan grapple with new outbreaks. SourceContinue Reading
Iran’s veteran oil minister, Bijan Namdar Zanganeh, will retire when President Hassan Rouhani’s term ends this year, closing a career that started with the birth of the Islamic Republic in 1979 and has often been defined by his country’s turbulent relationship with the U.S. SourceContinue Reading
The project at the Port of Rotterdam could sequester about 2.5 million metric tons of carbon dioxide annually by storing it in depleted gas fields in the seabed. The four companies involved—Shell, Exxon, Air Liquide SA, and Air Products and Chemicals Inc.—will receive state backing for the plan, according to Sjaak Poppe, a spokesman for...Continue Reading
“These transactions will contribute to the necessary rationalization of the global drilling rig fleet and they are further in line with Maersk Drilling’s strategic priority of maintaining a fleet of modern, high-quality assets,” said CEO Jørn Madsen of Maersk Drilling. SourceContinue Reading
The project at the Port of Rotterdam could sequester about 2.5 million metric tons of carbon dioxide annually by storing it in depleted gas fields in the seabed. The four companies involved—Shell, Exxon, Air Liquide SA, and Air Products and Chemicals Inc.—will receive state backing for the plan, according to Sjaak Poppe, a spokesman for...Continue Reading
The deal rounds out an accelerated asset-sale program that has helped Sasol reduce borrowings that ballooned amid cost overruns at a giant U.S. chemicals project and call off a proposed $2 billion share sale. SourceContinue Reading
State-controlled National Iranian Oil Co. has been priming oil fields — and customer relationships — so it can increase exports if an accord with the U.S. is clinched. But even if a deal is struck, the flow of additional crude into the market may be gradual. SourceContinue Reading
The Environmental Protection Agency ordered the shutdown of a U.S. Virgin Island refinery that historically was positioned as a key fuel source for the East Coast due to public health concerns. SourceContinue Reading
Iran’s Petropars Ltd. will be awarded a $1.78 billion contract by the National Iranian Oil Co. to develop the giant Farzad-B gas field that was previously intended to be tapped by a group of Indian companies. SourceContinue Reading
