About half of U.S. oil pipeline space is sitting unused, heating up competition for barrels in higher-output areas like the Permian Basin in Texas. Overall U.S. pipeline capacity utilization is at around 50%, compared with a range of 60% to 70% headed into early 2020 before the coronavirus pandemic hit, according to consultancy Wood Mackenzie. […]
Author Archives: blackwhite
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Dec
Dec
Tullow Oil (OTCMKTS:TUWOY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports. According to Zacks, “Tullow Oil plc operates as an independent oil and gas exploration and production company in Europe. Tullow has a large portfolio of exploration and production assets with a focus […]
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The Asian Development Bank (ADB) has trimmed its forecast for regional economic growth following fresh outbreaks of Covid-19. The ADB now expects developing Asian economies to expand by 7pc this year and 5.3pc in 2022, down slightly from its most recent forecast of 7.1pc and 5.4pc respectively. The main risk to growth remains a resurgence in Covid-19 […]
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Abu Dhabi’s state-owned Adnoc today announced the discovery of up to 1bn bl of oil equivalent at its onshore block 4 that is operated by Japanese upstream firm Inpex. “The discovery comprises substantial Murban oil resources and represents the first find from this concession area as well as from a new geological formation,” Adnoc said […]
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-Oil prices rose on Thursday as U.S. implied consumer petroleum demand surged to a record high in the world’s top oil consumer even as the Omicron variant of coronavirus threatens to dent oil consumption globally. A signal by the U.S. Federal Reserve to tackle inflation before it derails the U.S. economy also boosted prices. Brent […]
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-Oil prices fell for a third day straight on Wednesday on growing expectations that supply growth will outpace demand growth next year, even though the Omicron coronavirus variant is not seen curbing mobility as sharply as earlier COVID-19 variants. U.S. West Texas Intermediate (WTI) crude futures fell 82 cents, or 1.2%, to $69.91 a barrel […]
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1-Introducing different kinds of bitumen Iran has the capacity to produce for million tons of bitumen by the state and private sectors. State refineries supply the primary material of bitumen called Vaccum Bottom through stock exchange, and then private and semi-state sectors transform to different varieties of bitumen grade as follow: –Penetrating bitumen This is […]
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SYDNEY (Reuters) – Asian stocks were mostly down and oil prices slipped on Tuesday as the spread of the Omicron coronavirus variant rattled investors who were already on edge ahead of a slew of central bank decisions this week, including a key Federal Reserve meeting. MSCI’s broadest index of Asia-Pacific shares outside Japan was down […]
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SYDNEY (Reuters) – Asian stocks pushed ahead on Monday with investors wagering markets can weather whatever comes from a host of central bank meetings this week, including the likely early end to U.S. policy stimulus. European shares prepared to follow suit, with pan-region Euro Stoxx 50 futures up 0.33% in early deals. German DAX futures gained 0.29% and FTSE futures edged […]
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TOKYO (Reuters) -Oil prices extended their rally on Monday as investor appetite improved amid growing relief the Omicron coronavirus variant may not cause severe illness and will likely have a limited impact on global fuel demand. Brent futures climbed 94 cents, or 1.3%, to $76.09 a barrel by 0500 GMT, after rising 1% on Friday. U.S. […]