Oil and gas

Oil prices hold gains on upbeat China trade data

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[ SINGAPORE: Oil prices held steady on Thursday, holding onto overnight gains after upbeat Chinese trade data and after U.S. data showed a smaller-than-expected rise in crude inventories and large draws in fuel stocks. However, expectations that U.S. interest rate cuts could be delayed capped gains. Brent crude futures slipped 4 cents to $82.92 a … Read more

Hibiscus to write off RM27mil due to commercially unviable well

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[ KUALA LUMPUR: Hibiscus Petroleum Bhd plans to write off RM27 million in capital cost estimates for its South Furious Merah exploration well after an initial assessment found that the hydrocarbon volumes seen in the well may not achieve commercially viable economic thresholds. The South Furious Merah exploration well is part of Hibiscus Petroleum’s drilling … Read more

PETRONAS gives 120 Sabah students exposure to career paths in oil and gas

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[ KOTA KINABALU: Some 120 students in Sabah’s northern Kota Marudu were introduced to ways in which science, technology, engineering, and mathematics (STEM) could set their career paths in the oil and gas sector. The Forms Three and Four students from seven schools in the district were given the opportunity through the Discover PETRONAS @ … Read more

Oil prices gain after Opec+ maintains output cuts

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[ SINGAPORE: Oil prices rose in early trade on Friday following a decision by OPEC+ to keep its oil output policy unchanged, clawing back some losses from the previous trading session triggered by unsubstantiated ceasefire reports between Israel and Hamas. Brent crude futures rose 50 cents, or 0.6%, to $79.20 a barrel at 0155 GMT, … Read more

Oil climbs as tensions escalate in Middle East

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[ SINGAPORE: Oil prices climbed on Monday after a drone attack on U.S. forces in Jordan added to worries over supply disruption in the Middle East as Houthi rebels stepped up their attacks on vessels in the Red Sea, hitting a Trafigura-operated fuel tanker. Risks of a widening conflict comes as Russian refined product exports … Read more

Oil slips; investors eye Mideast developments

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[SINGAPORE: Oil prices slipped on Monday with traders watching out for supply disruption risk in the Middle East following strikes by U.S. and British forces to stop Houthi militia in Yemen from attacking ships in the Red Sea. Read full story Read original article here Denial of responsibility! Genx Newz is an automatic aggregator of … Read more

Oil jumps 1.5% in New Year after U.S. forces repel Houthis in Red Sea

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[ SINGAPORE: Oil prices jumped 1.5% in the first session of the New Year, due to potential supply disruptions in the Middle East after a naval clash in the Red Sea, and hopes of strong holiday demand and an economic stimulus in China, the top crude importer. Brent crude rose $1.20, or 1.5%, to $78.24 … Read more

Oil holds soft tone on oversupply worries ahead of Fed meeting

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[ BEIJING: Oil prices extended losses on Wednesday in Asian trade, after falling by more than 3% to six-month lows in the previous session on oversupply and demand concerns. Brent crude futures for February fell 33 cents, or 0.45%, to $72.91 a barrel by 0621 GMT. U.S. West Texas Intermediate crude futures for January dropped … Read more