MANILA, Philippines — Oil companies are set to raise pump prices on Tuesday, July 2, for the third consecutive week. Shell and Seaoil said they will hike gasoline prices by P0.95 per liter and diesel by P0.65 per liter. Kerosene prices will go up by P0.35 per liter. Last week, oil firms raised the prices […]
Oil firms to raise pump prices anew Read More »
SAR 500 banknotes Saudi Islamic banks’ standalone credit profiles will remain strong in 2024 and 2025, supported by high oil prices and benign operating conditions, Fitch Ratings said in a new dashboard. Islamic banking is dominant in Saudi Arabia, with the largest proportion of Islamic financing (85%) of any country that allows conventional banks to
Saudi Islamic banks’ standalone credit profiles to stay strong in 2024, 2025: Fitch Read More »
Devakumar Edwin, the Vice President of Oil and Gas at Dangote Industries Limited (DIL), has accused International Oil Companies (IOCs) in Nigeria of actively trying to undermine the Dangote Oil Refinery and Petrochemicals. Edwin made this disclosure to a group of Energy Editors at a one-day training programme organised by the Dangote Group. Edwin
Dangote accuses IOCs of crude oil price manipulation, claims firms sabotaging refinery Read More »
Oil drilling rigs Oil prices were unchanged in early session today, June 19, despite estimates indicating an unexpected increase in US crude inventories and escalating tensions in Europe and the Middle East. Brent crude was trading at $85.36 per barrel, at 08:03 am Makkah time, after recording the highest settlement level since April 30. West
Oil stable; Brent trades above $85 Read More »
MUMBAI: The rupee stayed on the upward track for the second straight session and appreciated 6 paise to 83.37 against the US dollar in early trade on Wednesday, boosted by sustained inflow of foreign capital and firm equity markets . The local unit, however, faced resistance due to a stronger American currency and higher crude
Rupee rises 6 paise to 83.37 against US dollar in early trade Read More »
Oil drilling rigs Oil prices rose on Friday, backed by eased investor concerns over supply abundance after OPEC+ confirmed the possibility of adjusting the production agreement if necessary. Brent crude for August delivery rose by 0.23%, or 18 cents, to $80.05 a barrel at 08:22 AM KSA Time. Similarly, the futures prices for American WTI
Oil rises, Brent trades above $80 a barrel Read More »
Oil ticks up, above $74.00 after a sizeable decline in the first part of the week. OPEC+ pushes against the bearish outlook, warning about the possibility of unwinding the taper of voluntary cuts. The US Dollar Index trades just above 104.00 as ECB decision looms. Oil prices are in repair mode on Thursday after a
Oil steady in the green with a better growth outlook projected after ECB’s rate cut Read More »
Oil prices fell more than $1 on Tuesday on scepticism about an OPEC+ decision to boost supply later this year into a global market where demand has already shown signs of weakness. Extending losses from a four-month low in the previous session, Brent crude futures were down $1.11, or 1.4%, at $77.25 a barrel by
Oil drops over $1 as OPEC+ decision spotlights shaky demand Read More »
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Oil prices on Monday hit their lowest levels in months despite the Saudi-led OPEC and its Russia-led allies agreeing on Sunday to extend production cuts. Benchmark U.S. crude changed hands for as little as $75.12 a barrel in morning trading, according to Dow Jones Market Data. This is the cheapest price since February 8. The
Oil prices hit their lowest levels in months Read More »
