Tag: oil
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Drone strike on Iranian oil tanker: Israel retaliates
According to reports, there was a drone strike on an Iranian oil tanker near the Syrian coast. According to the foreign news agency, the oil tanker caught fire after the attack but the fire was extinguished immediately. No casualties were reported in the incident. According to the Syrian state news agency, the oil tanker was…
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Oil Surges As Stocks Trade Mixed
Oil has surged as stocks trade is mixed.
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Anger as UK fails to rule out further North Sea drilling
London, (24th March, 2021, 08:40 pm) (AFP/APP):The British government on Wednesday angered environmentalists by saying it could license further oil and gas drilling in the North Sea, months before it hosts a climate change summit. The government made the announcement as it unveiled a new “North Sea Transition Deal”, aimed at helping lower carbon…
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Aramco Experienced a Drastic Decrease in Revenue
RIYADH, Mar 21 (XINHUA/APP): The Saudi Arabian Oil Company (Aramco) on Sunday announced a net income of 49 billion U.S. dollars in 2020, down from 88.2 billion dollars in 2019, or 44.4 percent. Aramco, in a statement, attributed the reduction to lower crude prices due to the COVID-19 pandemic, and Aramco CEO Amin Nasser described it as “one…
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Italy court acquits Eni, Shell in Nigeria corruption case
Milan, March 17 (AFP/APP):An Italian court on Wednesday cleared oil majors Eni and Shell of corruption charges related to a major deal in Nigeria, according to media and a corruption watchdog. The case focused on claims that $1.1 billion (920 million euros) in bribes had been paid to secure a giant Nigerian offshore oilfield in…
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Niger inaugurates Oil-powered power station
Niamey, March 17 (AFP/APP): Niger on Wednesday inaugurated an oil-fired power station in the capital Niamey, part of an initiative to ease its heavy dependence for energy from neighbouring Nigeria. The 89-megawatt facility is designed to provide backup for Niamey, the southern region of Dosso and Tillaberi in the west in the event of a cut in electricity…
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Ship runs aground off Mauritius with fuel aboard
Port Louis, Mauritius, March 8 (AFP/APP):Mauritius deployed its coastguard and armed forces on Monday after a Chinese-flagged trawler containing 130 tonnes of oil ran aground off the Indian Ocean archipelago nation. It is the second shipwreck in less than a year off Mauritius, after a tanker struck a reef in July and leaked 1,000 tonnes…
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Oil prices spike higher, stocks languish
London, March 4 (AFP/APP):Oil prices jumped higher Thursday on speculation OPEC+ nations would keep a tight lid on output, while stocks languished on interest rate worries. The OPEC group of oil producers and its allies began talks on Thursday, with all eyes on whether powerhouses Russia and Saudi Arabia can find an agreement. The so-called…
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OPEC Group and it’s Allies Meet Today
London, March 4 (AFP/APP): The OPEC group of oil producers and its allies meet Thursday with all eyes on whether powerhouses Russia and Saudi Arabia can agree on output levels following a rebound in demand and prices. While the so-called OPEC+ group is often at loggerheads over how much oil to pump into the market, a sudden plunge…
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Rio de Janeiro: Shares in Brazilian oil giant Petrobras falls sharply
Rio de Janeiro, Feb 19 (AFP/APP): Shares in Brazilian oil giant Petrobras fell sharply Friday following comments from President Jair Bolsonaro that there would be changes in the state-owned company. Ordinary shares had fallen 7.1 percent by 1700 GMT while preference shares were down by 5.7 percent. “There will be changes in Petrobras,” the far-right…