Aramco’s dividends are a vital source of cash for the Saudi government, whose budget deficit is expected to widen to 12% of gross domestic product this year amid a coronavirus-triggered crash in crude prices and a severe economic contraction. SourceContinue Reading
The move will help Qatar “avoid negative economic consequences due to oil-price volatility,” Emir Sheikh Tamim bin Hamad Al Thani told members of the country’s legislative body, the Shura Council, on Tuesday. SourceContinue Reading
Oil gained, following a broader risk-on sentiment in markets and as OPEC+ inches closer to delaying a planned easing of output cuts. SourceContinue Reading
As the U.S. presidential election cycle nears its final chapter on Tuesday, and Tuesday evening, we at World Oil think it’s appropriate to remind our fellow professionals in the U.S. oil and gas industry what is at stake. SourceContinue Reading
Against a backdrop of sagging demand and signs of growing supply, the world’s biggest oil buyer raised the quota for use of overseas oil by non-state entities next year by more than 20% versus 2020, according to an announcement from the Ministry of Commerce. SourceContinue Reading
Dresser Natural Gas Solutions, a leading provider of measurement, instrumentation and piping solutions to the natural gas distribution and transmissions markets, has acquired Flow Safe, a manufacturer of spring-operated and pilot-operated high performance pressure relief devices. SourceContinue Reading
OPEC+, led by Russia and Saudi Arabia, was already considering postponing the supply increase planned for January as oil prices faltered. SourceContinue Reading
Discussions between Russian oil companies and Energy Minister Alexander Novak over the possibility of delaying a planned OPEC+ output bolster optimism the group won’t add more supply than the market can absorb as Europe enters a new round of lockdowns. SourceContinue Reading
Trump sees full-throated support for fracking as a crucial element in Pennsylvania, where he’s trailing Joe Biden and which would likely clinch the presidency for the Democrat, should he win it. SourceContinue Reading
