Monday, 27 Jan 2020

Category: Business

OPEC Basket Price Stood, at $63.26

Vienna, The price of OPEC basket of fourteen crudes stood at $63.26 a barrel on Tuesday, compared to $64.66 the previous day, according to OPEC Secretariat calculations, WAM reported.The fourteen crudes, from separate OPEC member countries, include a m…

Saudi Oil Giant Aramco Pushes IPO to Record $29.4 Billion

DUBAI, UNITED ARAB EMIRATES – Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, more than previously announced, after the company used a so-called greenshoe option to sell millions more shar…

OPEC Prices Significantly Downed

The price of OPEC basket of fourteen crudes stood at $67.26 a barrel on Thursday, compared with $69.60 the previous day, according to OPEC Secretariat calculations.The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Al…

Oil Price Keeps Rising as Industry Eyes Iran-US Conflict

PROVIDENCE, RHODE ISLAND – The global benchmark for crude oil rose above $70 a barrel on Monday for the first time in over three months, with jitters rising over the escalating military tensions between Iran and the United States.The Brent contract for…

OPEC production fell last month

Baghdad, The Organization of Petroleum Exporting Countries (OPEC) production decreased last month./ Reuters / reported that OPEC oil production declined in December, in light of more commitment on the part of Nigeria and Iraq to the reductions that wer…

Aramco Acquires 17% of South Korean Hyundai Oil bank

Dhahran, Saudi Arabian Oil Company (Saudi Aramco) has completed, through its subsidiary Aramco Overseas Company B.V. (AOC), the acquisition of 17% of Hyundai Oilbank from Hyundai Heavy Industries Holdings, for approximately US$1.2 Billion. The completi…

OIL SLIPS AS OPEC+ GEARS UP TO CONFIRM SUPPLY CUT

Oil edged lower on Friday as investors awaited a meeting of OPEC and its allies later in the day which is expected to formally agree to more output curbs in early 2020.Despite the new cuts, OPEC stopped short of pledging action beyond March and analyst…