“There is an expectation of lower oil prices and the logic I was reading about India’s position on not changing its oil purchases from Russia in response to the tariff announcement and the explanation that India was somehow helping keep prices stable by absorbing lower priced oil from Russia, I found that very interesting, says,” … Read more
The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But Saudi Aramco plans to boost its production capacity so it can pump as much of Saudi Arabia’s vast oil … Read more
Oil company Saudi Aramco is reviewing plans to expand at home and abroad in the face of sharply lower oil prices and a heavy dividend burden, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Aramco will review a $6.6 billion plan to add petrochemical output at its Motiva refinery in … Read more