ExxonMobil, a giant in the oil industry, has struck a deal to acquire Pioneer Natural Resources, a major shale oil producer, in a move that will notably expand Exxon’s presence in the Permian Basin, located […]
Oil and gas titan Shell has faced a ban on some of its advertisements due to misleading claims about the cleanliness of its energy production. The Advertising Standards Authority (ASA) ruled that the ads, including […]
Oil prices have shot upwards following Saudi Arabia’s announcement to cut oil production by a million barrels per day (bpd) in July. This move is part of a broader strategy by OPEC+, a group of […]
Filipino drivers to receive fuel subsidies as oil prices rise […]
In an attempt to lower the price of oil the US is leading an international effort of other major economies to release oil reserves. The price of crude oil reached a 7-year high of $81.93 […]
Saudi Aramco, a state-owned energy company in Saudi Arabia and the world’s most valuable company, has seen year-on-year profits almost quadruple in the second quarter of 2021. The firm, which is also the world’s largest […]
Saudi Arabia, the second largest oil producing nation in the world, has for the last few years been trying desperately to diversify its economy and reduce their dependence on the export of oil. Despite being […]
Since the outbreak of the coronavirus in January this year, there have been numerous economic events which have been simply unprecedented in their nature. The latest of these, in the wacky world of Covid-19, is […]
The market for oil could be set to rebound following the announcement from OPEC that a deal had been reached between the Saudi-led cartel and other major oil producers around the world. This should bring […]
The cost of petrol in the UK is nearing £1 for the first time in four years. This is the result of an extremely volatile start to 2020 for the petrol market as it encounters […]
The world awoke to the largest drop in oil prices in 29 years today as Saudi Arabia, the world’s second largest oil producer, seemingly instigated a price war against Russia. The huge drop in […]
After 5-days of significant loss, oil prices made a comeback on Wednesday with prices increasing by just over 2%. Reports suggest that the 2% jump, reflecting greater confidence in the market, could be a result […]
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