Oil & Gas


  • Filter by

Oil price rises on tensions after Middle East tanker attacks

TOKYO: Oil prices rose on Monday after U.S. Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week.

Brent futures rose 27 cents, 0.4% to $62.28 a barrel by 0040 GMT. They rose 1.1% on Friday.  U.S. West Texas Intermediate (WTI) crude futures were up 18 cents, or 0.4%, at $52.69 a barrel. They rose 0.4% in the previous session.

Saudi Crown Prince expects Aramco IPO in 2020-2021

Washington: Saudi Arabia is committed to selling shares in Saudi Aramco as soon as next year, Crown Prince Mohammed bin Salman said in an interview with the Saudi-owned Ahsarq Al Awsat newspaper.

Matrade to match O&G firms with foreign buyers

KUALA LUMPUR: Malaysia External Trade Development Corp (Matrade) will be matching more than 40 Malaysian companies in the oil and gas sector with foreign buyers next week through its International Sourcing Programme (INSP).

At the INSP organised by Matrade at OGA 2015, sales of RM182.6mil were recorded, said Jai Shankar, director of oil & gas at Matrade’s chemical and energy section.  “We hope the participation this year will generate good results for the Malaysian companies,” he said.

Inpex agrees on framework for US$20b Indonesian LNG project

TOKYO: Japan’s Inpex Corp. agreed on a framework with Indonesia for the US$20 billion Abadi liquefied natural gas project, a key step toward reaching final investment for one of the world’s biggest export ventures.

Japan’s Inpex Corp. agreed on a framework with Indonesia for the US$20 billion Abadi liquefied natural gas project.

Oil prices ease, but tanker attacks support

TOKYO: Oil fell on Friday after sharp gains in the previous session when prices were boosted after attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude flows through one of the world's key shipping routes.

Brent crude futures were down 17 cents, or 0.3%, at $61.14 a barrel by 0041 GMT. They settled up 2.23% on Thursday, at $61.31, having risen as much as 4.5%.  U.S. West Texas Intermediate crude futures were down 39 cents, or 0.8%, at $51.89 a barrel. They closed 2.23% higher at $52.28 a barrel in the previous session, having also risen as much as 4.5%.

Wall St. climbs as oil jumps after Gulf tanker attacks

NEW YORK: U.S. stocks rose on Thursday after two days of declines, as energy shares rebounded with oil on concerns of a supply disruption following attacks on two tankers in the Gulf of Oman.

An Iranian navy boat sprays water to extinguish a fire on an oil tanker in the sea of Oman, Thursday, June 13, 2019. Two oil tankers near the strategic Strait of Hormuz came under a suspected attack Thursday, setting one of them ablaze in the latest mysterious assault targeting vessels in a region crucial to global energy supplies amid heightened tension between Iran and the U.S. - AP Photo/Tasnim News Agency