Author name: David Ryabchikov

Dangote accuses IOCs of crude oil price manipulation, claims firms sabotaging refinery 

Dangote accuses IOCs of crude oil price manipulation, claims firms sabotaging refinery 

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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 […]

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Rupee rises 6 paise to 83.37 against US dollar in early trade

Rupee rises 6 paise to 83.37 against US dollar in early trade

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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

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Oil steady in the green with a better growth outlook projected after ECB’s rate cut

Oil steady in the green with a better growth outlook projected after ECB’s rate cut

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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

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Oil Updates – prices steady as investors assess OPEC+ output cut extension

Oil Updates – prices steady as investors assess OPEC+ output cut extension

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RIYADH: Geopolitical and economic changes, safety, and emissions are in the spotlight at the 80th IATA Annual General Meeting and World Air Transport Summit that commenced in Dubai on June 2.  According to the International Air Transport Association, leaders from the global airline industry are attending the World Air Transport Summit scheduled to continue until

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WTI trades above $77.00 as OPEC+ agreed to extend its output cuts into 2025

WTI trades above $77.00 as OPEC+ agreed to extend its output cuts into 2025

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WTI edges higher as OPEC+ continues its oil output cuts of 3.66 million barrels per day into 2025. Oil prices could face pressure as Fed officials suggested maintaining restrictive monetary policy for now. Israeli Prime Minister Benjamin Netanyahu’s administration accepted US President Joe Biden’s proposal for a Gaza cease-fire on Sunday. West Texas Intermediate (WTI

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