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January 22, 2020
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Reuters - Business

Oil falls again as amply global supply seen offsetting Libyan outage

Reuters
FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann TOKYO (Reuters) – Oil prices edged lower on Wednesday, extending the previous session’s drops, as investors continue to shrug aside the impact of almost all of Libya’s crude production being off-line......
Reuters - Business

Exclusive: Philadelphia refinery expected to be sold to real estate developer – sources

Reuters
FILE PHOTO: The Philadelphia Energy Solutions oil refinery is seen at sunset in front of the Philadelphia skyline March 24, 2014. REUTERS/David M. Parrott/File Photo NEW YORK (Reuters) – The bankrupt Philadelphia Energy Solutions is expected to sell its fire-damaged refinery site to real estate developer Hilco Redevelopment Partners, three......
Reuters - Business

Halliburton takes $2.2 billion charge on shale slump

Reuters
(Reuters) – U.S. oilfield services firm Halliburton Co. on Tuesday disclosed a $2.2 billion charge to earnings as weakening North American shale activity continued to hit the industry. FILE PHOTO: Oil production equipment is seen in a Halliburton yard in Williston, North Dakota April 30, 2016. REUTERS/Andrew Cullen/File Photo The......
Reuters - Business

Oil market shrugs off Libya crisis

Reuters
LONDON (Reuters) – Oil prices fell more than 1% on Tuesday on expectations that a well-supplied market would be able to absorb disruptions that have cut Libya’s crude production to a trickle. An oil pump jack of Canadian group Vermilion Energy is pictured in Parentis-en-Born, France, October 13, 2017. REUTERS/Regis......
Reuters - Business

BP appoints new finance chief as Looney prepares to take over

Reuters
LONDON (Reuters) – BP’s (BP.L) finance chief Brian Gilvary is to step down in June after eight years in the role and will be replaced by a close ally of Bernard Looney who takes over as chief executive next month. FILE PHOTO: A sign is seen outside BP’s North Sea......
Reuters - Business

Oil prices slide as supply concerns fade

Reuters
SINGAPORE (Reuters) – Oil prices fell nearly 1% on Tuesday as investors expected Libya’s oil production to eventually resume following a force majeure declared by the oil exporter on two major oilfields amid a military blockade. An oil pump jack of Canadian group Vermilion Energy is pictured in Parentis-en-Born, France,......
Reuters - Business

BP’s finance chief Brian Gilvary to retire in June

Reuters
FILE PHOTO: A sign is seen outside BP’s North Sea Headquarters in Aberdeen, Scotland January 15, 2015. Oil majors BP and ConocoPhillips will cut over 500 jobs in the North Sea following similar moves by rivals to reduce costs in one of the world’s most expensive exploration areas as oil......
Reuters - Business

Oil prices ease as supply risk concerns fade

Reuters
SINGAPORE (Reuters) – Oil prices eased on Tuesday as investors appeared to shrug off earlier supply concerns following a force majeure declared by Libya on two major oilfields amid a military blockade. An oil pump jack of Canadian group Vermilion Energy is pictured in Parentis-en-Born, France, October 13, 2017. REUTERS/Regis......
Reuters - Business

Oil rises as Libya declares force majeure in oilfields

Reuters
LONDON (Reuters) – Oil prices rose to their highest in more than a week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle. FILE PHOTO: Pump jacks operate at sunset in......
Reuters - Business

Oil rises as Libyan oilfields shut down

Reuters
LONDON/TOKYO (Reuters) – Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle. FILE PHOTO: Pump jacks operate at sunset in Midland,......
Reuters - Business

Oil rises to more than a week high after Libyan outage

Reuters
TOKYO (Reuters) – Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle. FILE PHOTO: Pump jacks......
Reuters - Business

Oil jumps to highest in more than a week after Libyan shutdowns

Reuters
FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. REUTERS/Nick Oxford TOKYO (Reuters) – Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for......
Reuters - Business

Oil surges as Libyan pipeline shutdown cripples output

Reuters
FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. REUTERS/Nick Oxford TOKYO (Reuters) – Oil prices jumped on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to......
Reuters - Business

Oil steadies as Chinese economy offsets trade optimism

Reuters
NEW YORK (Reuters) – Oil prices steadied on Friday as sluggish economic growth in China, the world’s biggest crude importer, raised concerns over fuel demand and countered optimism from the signing of a China-U.S. trade deal. FILE PHOTO: A maze of crude oil pipes and valves pictured during a tour......
Reuters - Business

Exclusive: Sinopec to review potential $16 billion U.S. gas deal with Cheniere – sources

Reuters
SINGAPORE (Reuters) – China’s Sinopec, expected to be the next major Chinese buyer of U.S. liquefied natural gas (LNG), is planning to review terms of a potential $16 billion supply deal with Cheniere Energy after a sharp drop in LNG prices, industry officials said. FILE PHOTO: A man stands next......
Reuters - Business

Oil ends higher, as trade deal progress spurs energy demand hopes

Reuters
NEW YORK (Reuters) – Oil rose about 1% on Thursday, as progress on another major trade deal fed optimism that energy demand will grow in 2020. FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann The U.S. Senate approved a......
Reuters - Business

U.S. energy exports to climb as China pledges ramp-up in purchases

Reuters
NEW YORK/SINGAPORE (Reuters) – U.S. energy exports to China, mostly crude oil and natural gas, will climb as the world’s two largest economies struck a trade agreement after a more than year-long tariff war, executives and traders said on Wednesday. FILE PHOTO: A liquified natural gas (LNG) tanker leaves the......
Reuters - Business

Oil slips on doubts about U.S.-China deal, OPEC outlook

Reuters
LONDON (Reuters) – Oil prices slipped on Wednesday on concerns that the U.S./China Phase 1 trade deal may not provide much of a demand boost because the United States intends to keep tariffs on Chinese goods until a second phase deal. FILE PHOTO: An oil pump is seen just after......
Reuters - Business

OPEC expects lower demand for its oil as U.S. hits new milestone

Reuters
LONDON (Reuters) – OPEC expects lower demand for its crude oil in 2020 even as global demand rises, it said on Wednesday, as rival producers grab market share and the United States looks set for another output record. The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits......
Reuters - Business

JPMorgan first major brokerage to rate Saudi Aramco ‘overweight’

Reuters
FILE PHOTO: Participants attend the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO) on the Riyadh’s stock market, in Riyadh, Saudi Arabia, December 11, 2019. REUTERS/Marwa Rashad DUBAI (Reuters) – JPMorgan (JPM.N) is the first major brokerage to initiate coverage of Saudi Aramco (2222.SE) with an......

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