Wall St. drops sharply as Iran strikes back at Israel's attack
Wall Street closed sharply lower Friday, after Iran fired missiles towards Israel in response intensive Israeli strikes designed to cripple Tehran's nuclear weapons-building capability.
Baker Hughes reports that US drillers have cut oil/gas drilling rigs by 7th week, to the lowest level since 2021.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the seventh consecutive week. This is the lowest level since November 2021.
Baker Hughes reports that US drillers have cut oil/gas drilling rigs by 7th week, to the lowest level since 2021.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the seventh consecutive week. This is the lowest level since November 2021.
Wall St. falls after Israel's attacks on Iran reduce risk appetite
Wall Street's major indexes dropped on Friday, after Israel hit a number of nuclear facilities and rocket factories in Iran. This escalating tensions shook the oil-rich Middle East.
The ethnic groups are angry about Tinubu's pardoning of the 'Ogoni Nine" by Nigerian President Tinubu
Nigerian Ogoni activists rejected on Friday a posthumous forgiveness for nine members of their community who were executed by the military dictatorship three decades earlier.
UK invests 200 million pounds into Acorn Carbon Capture Project in Scotland
The government announced on Thursday that Britain would invest 200 million pounds (about $272 million) into the Acorn Carbon Capture and Storage project in Scotland. This is…
Glencore has halted certain cobalt exports due to the Congo export ban
Three sources familiar with the situation said that Glencore declared force majore on certain deliveries of cobalt from the Democratic Republic of Congo, days after the government…
Sources say that Hokchi Energy, frustrated by Mexico's Pemex and its refusal to buy oil from them, pushed for a change in who purchases their oil.
Three sources said that Hokchi Energy in Mexico, frustrated with months of late payments from the state-owned company Pemex for its oil, gas and natural gas, sought to amend…
Glencore has halted certain cobalt exports due to the Congo export ban
Three sources familiar with the situation said that Glencore declared force majore on certain deliveries of cobalt from the Democratic Republic of Congo, days after the government…
Venture Global withdraws its application to build Delta LNG Plant, according to a filing
Venture Global has asked U.S. regulators to withdraw their application for the proposed 24 million tons per year Delta LNG export facility to be built in Louisiana. The company…
Africa Energy to produce first gas from South Africa's biggest gas field in 2033
Africa Energy Corp, a Canadian-listed company, aims to begin production of South Africa's biggest gas discovery by 2033. Its CEO made the announcement on Tuesday as it pushed…
The new Texas wastewater regulations could increase costs for oil producers
The new guidelines for permitting wastewater disposal wells are likely to increase the costs of oil producers, as the crude price is low. This will be the latest challenge faced…
EPA wants to give Texas the authority to supervise CO2 injection permits
U.S. Environmental Protection Agency proposed Monday to approve Texas' application for its own permitting of projects to inject underground carbon dioxide, a step long sought…
Aluminum producers in the US benefit from Trump's tariffs
Four industry sources say that President Donald Trump will benefit from the higher tariffs on imported metals as domestic prices rise. Some industry players worry that Trump's…
Baker Hughes reports that US oil/gas rig counts have fallen for the 6th consecutive week, to levels not seen since 2021.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the sixth consecutive week for the first since September 2023.
Spain's oil imports from Venezuela dry up before US sanctions deadline
Spain did not import crude oil in Venezuela during April. This was ahead of the key deadline for sanctions set by President Donald Trump’s administration. The United States…
Mark Tucker, former chairman of HSBC, joins Asia insurer AIA
Mark Tucker, HSBC’s highly-regarded Chairman, will leave the bank and take up a new position as chairman of AIA Group. He was previously CEO of the pan-Asian insurer where he served.
Brendan Nelson, chair of the audit committee at HSBC, is named interim group chairman
HSBC Holdings PLC announced on Friday that Brendan Nelson will be the interim group chairman after Mark Tucker retires from his role on September 30, following his retirement.
Petrobras CEO: Africa will be the main exploration region for Petrobras outside Brazil.
Petrobras wants to develop Africa as its primary region outside Brazil. The CEO of the state-run oil company said this in a broad interview on Thursday. Petrobras CEO Magda…
Trafigura warns about volatility in 2025 after first-half profits inch up
Commodities traders may struggle to capitalize on supply and demand disruptions rather than market volatility driven by politics in 2025. This was revealed on Thursday by trading house Trafigura…
