TOKYO, (Reuters) – Oil prices surged more than 2% on Friday as energy companies reported strong results and U.S. statistics showed oil production dropping while fuel demand increased. Brent futures for June delivery increased $1.17, or 1.5%, to $79.54 a barrel on their last day as the front-month, while theRead More →
ROME : (Reuters) Claudio Descalzi, the CEO of the Italian oil and gas firm Eni (ENI.MI), has said that he does not anticipate any “big shocks” in the energy markets this year. Descalzi said in an interview with La Stampa newspaper that “European gas storages are full and, although theRead More →
NEW DELHI (Reuters) January 4 – An Indian panel on Wednesday rejected Google’s bid to have an antitrust verdict forcing the tech giant to alter how it approaches its Android platform blocked, giving the American company a blow in a crucial growing area. For abusing its dominant position in areasRead More →
KARACHI: PricewaterhouseCoopers (PwC) believes that Pakistan will achieve exceptional growth rates over the next three decades, overtaking industrialised nations such as Canada and Italy to become the world’s 16th largest economy by 2050 in a new report. The consultancy firm produced its first ‘World in 2050’ report in March 2006,Read More →
CAIRO, Egypt (AP) – Saudi Arabia offered a $5 billion aid package for cash-strapped Egypt on Wednesday, where the economy is under strain due in part to the economic consequences from Russia’s conflict on Ukraine. The monies, which were placed in Egypt’s Central Bank, are part of Saudi Arabia’s “tirelessRead More →
WARSAW, Poland (AP) — Poland launched measures Wednesday to phase out all Russian oil imports by the end of 2022, as Germany issued a warning about natural gas supplies and urged users to save energy in a hint of rising economic tensions in Europe over Russia’s conflict in Ukraine. Poland’sRead More →
RIYADH, Saudi Arabia (AFP) – Saudi Aramco announced on Sunday that its net profit for 2021 increased by more than 120 percent owing to higher crude prices, as global economic growth rebounded from a pandemic-induced dip. The declaration came just hours after Yemen’s Huthi rebels, against whom Saudi Arabia leadsRead More →
Asian markets received a much-needed boost Wednesday as Hong Kong’s tech titans led a comeback in the city following their recent fall, while oil prices soared back above $100 but remain under pressure from concerns about Chinese demand. While the gains are encouraging, more volatility is predicted as Russia continuesRead More →
Saudi Arabia is considering pricing part of its oil shipments in Yuan, undermining the US dollar’s dominance in the global petroleum market and signalling yet another shift toward Asia by the world’s top crude producer.According to the Wall Street Journal, negotiations with China over yuan-priced oil contracts have been onRead More →
Reuters reports that On Tuesday, oil prices rose, reclaiming some of the ground lost in the previous day’s severe losses, as investors worried about potential supply interruptions in the face of escalating geopolitical tensions in both Eastern Europe and the Middle East. Brent oil futures were up 48 cents, orRead More →
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