Tag Archives: Oil

GlobeNewswire Global Masterbatch Market – Analysis By Product, End-User, Polymer, By Region, By Country : Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025) Executive Summary The Global Masterbatch Market valued at USD 12. 05 billion in the year 2019 by value and 7219. 23 thousand tonnes by volume has been witnessing unprecedented growth.New York, Nov. 17, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Masterbatch Market – Analysis… Source link

(Bloomberg) — China’s biggest refiner is eyeing a creative strategy to help rid Asia of a persistent diesel glut — brand new supertankers usually reserved for crude oil. Unipec, the trading arm of China’s biggest oil refiner Sinopec Group, hired a newly-built very large crude carrier to load low-sulfur diesel in Asia for delivery to Europe. The vessel ordinarily would have sailed empty from its shipyard in Northeast Asia to the Middle East or West Africa, where it would pick up crude… Source link

(Bloomberg) — Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country after civil war all but shut its energy industry. The OPEC member, home to Africa’s largest crude reserves, ramped up production in the past six weeks amid a truce between rival military forces. It was pumping 800,000 barrels a day last week, and the state-run National Oil Corp. said Saturday that output now exceeds the million-barrel level. That’s the first time the… Source link

(Bloomberg Opinion) — This was supposed to be a time when things were getting closer to normal for OPEC. A recovery in oil demand after the first wave of the pandemic, coupled with a deep slump in U.S. production, was meant to leave the world needing more of its members’ crude. But it isn’t turning out like that. Two things have conspired against the Organization of Petroleum Exporting Countries. The coronavirus outbreak is threatening to put an already stalling recovery in oil demand… Source link

TipRanks Wells Fargo: 3 Stocks to Snap up Now Wall Street hit some rough waters last week. With the Presidential elections only two days away, spiking COVID-19 numbers and hopes for a pre-election stimulus package dwindling, stocks posted their worst week since the height of the pandemic in March. All three of the major U.S. stock indexes also reported a second consecutive monthly decline. According to the pros on Wall Street, uncertainty is ruling the markets. That said, some strategists… Source link

On Tuesday, the Department of Justice filed an antitrust case against Google. This is the most significant antitrust case filed since the government suit against Microsoft in 1998, and it also ranks with the most important antitrust suits of all time, including Standard Oil and AT&T. The move by a conservative Republican administration to take on one of the largest companies in the world is a repudiation of the libertarian ideology that has dominated American politics since the 1980s.

NEW YORK — Two American oil giants lost more than $9 billion in the second quarter as the pandemic kept households on lockdown, cutting a gaping hole into a once-thriving business as the need for oil diminished around the world. Exxon lost $1.1 billion in the second quarter, and the Irving, Texas-based oil producer brought in $32.6 billion in revenue, less than half of what it brought in at the same time last year. Chevron Corp. lost $8.27 billion during the quarter, a sharp contrast to the… Source link

When JP Morgan’s EMEA head of oil and gas research said last month that this crisis was fundamentally no different from previous crises, he was right – at least in a way. But in some ways, he was wrong, because it is not just out of a sense for the dramatic that most observers are calling the current crisis unprecedented.  This crisis will change the industry in ways no other crisis has done. Oil sands on the path to diversification Canada’s oil sands have been among the worst affected… Source link