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PETRONAS inks MoU with Philippines’ Phoenix Petroleum

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KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) and Phoenix Petroleum have agreed and signed a memorandum of understanding (MoU). To develop a collaboration in downstream...

Crude oil prices stay muted in 1H amid altered oil flows...

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Dated Brent prices are expected to remain relatively flat in the first half of 2023. On ample inventories despite persistent supply risks. With an...

Oil prices climb after Opec+ keeps output cut targets, China eases...

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As a result of OPEC+ countries maintaining their output objectives in advance of a European Union ban. The start of a price restriction on...

Boustead Plantations expects continued volatility in palm oil prices

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KUALA LUMPUR: Boustead Plantations Bhd stated that due to high stock levels in Malaysia and Indonesia, palm oil prices are projected to be highly...

Oil prices ease on symbolic OPEC+ output cut

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SINGAPORE: OPEC and allied oil-producing countries, including Russia, made a small trim in their supplies to the global economy. Underlining their unhappiness as recession...

Biden waiving the ethanol rule in a bid to lower gasoline...

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MENLO, Iowa USA: With inflation at a 40-year high, President Joe Biden journeyed to corn-rich Iowa on Tuesday. To announce a modest step aimed...

Congress votes to suspend Russia’s trade status, enact an oil ban

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WASHINGTON USA: Congress voted overwhelmingly to suspend normal trade relations with Russia and ban the importation of its oil. Ratcheting up the U.S. response...

Guyana OKs Exxon’s $10B Yellowtail offshore oil project.

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GEORGETOWN, Guyana: Guyana’s government has granted permission for U.S. supermajor ExxonMobil to develop a fourth offshore oil and gas field. The company said it...

Ukraine accuses Russia of the massacre, a city strewn with bodies.

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BUCHA, Ukraine: Bodies with bound hands, close-range gunshot wounds, and signs of torture lay scattered in a city on the outskirts of Kyiv. After...

Activists stage global climate protest, slam Ukraine war.

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Berlin Germany: Climate activists staged the 10th series of worldwide protests. To demand that leaders take stronger action against global warming. With some linking...

Ukraine war drives the US, EU deal to undercut Russian energy

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BRUSSELS: With stunning speed, Russia’s war in Ukraine is driving Western Europe into the outstretched arms of the United States again. Especially apparent when...

Putin wants ‘unfriendly countries’ to pay rubles for gas.

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MOSCOW Russia: President Vladimir Putin announced that Russia will demand that “unfriendly″ countries pay for Russian natural gas exports only in rubles from now...

UK inflation hits a 30-year high of 6.2% as Sunak readies...

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LONDON UK: British inflation shot up faster than expected last month to hit a new 30-year high. Worsening a historic squeeze on household finances...

High energy costs trigger unrest in parts of Europe.

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MADRID Spain: High energy costs are stoking unrest in parts of Europe, with Spain deploying more than 23,000 police officers in cars and helicopters....

World Bank official says war-driven oil price hikes to slash growth...

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WASHINGTON: Persistent high oil prices prompted by Russia’s invasion of Ukraine could cut a full percentage point off the growth of large oil-importing developing...

Biden bans Russian oil, warns of higher prices at US pumps.

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WASHINGTON: President Joe Biden announced that the U.S. will ban all Russian oil imports. Toughening the toll on Russia’s economy in retaliation for its...