Oil Price The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, could soon have an announcement about a possible sale of part of its 4% stake in Saudi Aramco, which is currently worth around $85 billion, the governor of the fund, Yasir Al-Rumayyan, told Bloomberg in an interview on Tuesday. Al-Rumayyan said that investors and analysts should “stay tuned” for news
Yahoo SINGAPORE -Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency (IEA) said on Tuesday. Rising imports of LNG to Europe amid the Ukraine crisis and a potential rebound in Chinese appetite for
Oil Price Major U.S. refiner Valero Energy (NYSE: VLO) reported on Tuesday third-quarter earnings above analyst expectations, thanks to strong product demand exceeding 2019 levels and solid refining fundamentals in the U.S. and worldwide. Valero, which launched the earnings season for U.S. refiners today, said its adjusted net income surged to $2.8 billion, or $7.14 per share, for the third quarter,
Oil Price Halliburton Company (NYSE: HAL), the world’s largest provider of fracking services, reported on Tuesday that adjusted net income for the third quarter more than doubled from the same period last year and expects drilling activity to continue rising in all markets. Halliburton booked a net income of $544 million, or $0.60 per diluted share, for the third quarter of
Yahoo Finance NEW YORK – Oil prices rose on Tuesday, rebounding from an early fall of more than $1 a barrel on lift from a weaker dollar and supply concerns highlighted by Saudi Arabia’s energy minister. Benchmark Brent crude futures rose by 44 cents to $93.70 a barrel by 11:03 a.m. EDT, while U.S. West Texas Intermediate crude futures
BOE Report U.S. natural gas futures were little changed on Tuesday as the market waits for demand to rise once liquefied natural gas (LNG) export plants start to exit maintenance outages in coming weeks. That expected demand increase was offset by record output, mild weather and low LNG exports in the past month or so, allowing utilities to
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