52.79 F
New York
October 18, 2019
Home » OPEC

OPEC

CNBC Business

Satellite photos show extent of damage to Saudi Aramco plants

CNBC
DUBAI — Satellite photos released by the U.S. government and DigitalGlobe reveal the surgical precision with which Saudi Aramco’s oil facilities were struck in attacks early Saturday morning. The strikes, which unnamed U.S. officials have said involved at least 20 drones and several cruise missiles, forced Saudi Arabia to shut...
CNBC Business

Attacks on oil supply wipe out spare capacity

CNBC
The attacks on critical oil production facilities in Saudi Arabia over the weekend will effectively wipe out the world’s spare oil capacity, an expert from S&P Global Platts said on Monday. Drone strikes attacked a oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday, knocking out...
Reuters - Business

Explainer: Attack on Saudi leaves world without spare oil capacity

Reuters
LONDON (Reuters) – The strike on the heartland of Saudi Arabia’s oil industry, including damage to the world’s biggest petroleum-processing facility, has driven oil prices to their highest level in nearly four months. FILE PHOTO: Smoke is seen following a fire at Aramco facility in the eastern city of Abqaiq,...
Reuters - Business

Global spare oil capacity in U.S. hands after Saudi outage

Reuters
LONDON (Reuters) – An attack on Saudi oil facilities on Saturday is believed to have disrupted half the country’s production capacity, making the United States the only real holder of the global supply cushion via its ability to raise own output or to soften sanctions against other major oil producers....
CNBC Business

US closing in on Saudi Arabia to become the world’s top exporter, IEA says

CNBC
A worker walks through an oil production facility owned by Parsley Energy in the Permian Basin near Midland, Texas, August 23, 2018.  Nick Oxford | Reuters  The International Energy Agency (IEA) expects the U.S. to challenge Saudi Arabia‘s position as the world’s leading oil exporter, after briefly overtaking the OPEC...
CNBC Business

Saudi Arabia’s energy minister Prince Abdulaziz faces hard road ahead

CNBC
A handout picture provided by the Saudi Press Agency (SPA), on September 9, 2019, shows the newly appointed Saudi Energy Minister Prince Abdulaziz bin Salman giving oath in the Saudi Red Sea city of Jeddah the previous night. FAYEZ NURELDINE/AFP/Getty Images ABU DHABI — Major changes in Saudi oil policy...
CNBC Business

OPEC is struggling to prove it can cope with Trump, RBC’s Helima Croft says

CNBC
Khalid Al-Falih, Saudi Arabia’s energy and industry minister, listens during a news conference following the 176th Organization Of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Monday, July 1, 2019. Stefan Wermuth | Bloomberg | Getty Images OPEC is under intensifying pressure to show it still has the power...
History

Mesoamerican Sculptures Reveal Early Knowledge of Magnetism | Science

Smithsonian
Magnets are a mystery that has baffled scientists and philosophers for millennia, and researchers still don’t fully understand the properties that give magnetic fields their potency. Ancient Greek legend held that a shepherd named Magnes first discovered the curious force when a stone pulled at his iron staff in an...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Click whichever is suitable. Accept Read More