GLEN: Taking heat from oil slide

Switzerland-based producer and marketer of commodities Glencore (GLEN) whose stock enjoyed an incredible recovery throughout 2016 (+ 124% YOY) could be questioning its bullish trend. Indeed, in line with a sharp drop in oil prices within the last 7 days from around USD 53.50 to...

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1.2bn oil barrels discovery in Alaska

Repsol and Armstrong Energy announced they made the largest US onshore oil discovery in 30 years. The Horseshoe-1 and 1A wells drilled during the 2016-2017 winter campaign confirm the Nanushuk play as a significant emerging play in Alaska’s North Slope. The contingent resources identified with […]

XOM: Long forecast, good dividend

Exxon Mobil Corporation (XOM)’s stock may soon reflect rising expectations in the oil markets. Indeed, there’s good reason to believe that there is a good potential of upside in the medium term, with an interesting dividend yield of 3.50%. XOM’s stock is currently hovering over...

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20 bn, 45,000 jobs for US oil sector

Exxon Mobil Corporation (XOM) is expanding its manufacturing capacity along the US Gulf Coast through planned investments of USD 20 billion over a 10-year period to take advantage of the American energy revolution, Darren Woods, Chairman and CEO, announced. New projects could create more than […]

Libya’s instability could help OPEC reach target

Political uncertainty and the acceleration of armed confrontations in Libya could push the price of oil a little higher. As OPEC tries to enforce the agreement to cut oil production with a view to a lasting rise in the price of oil’s barrel, the weakness...

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Venezuela facing food shortage, dire economic conditions

While Brazil and Argentina are heading towards economic recovery despite ongoing challenges, Venezuela is said to be plunging deeper into crisis. The Latin American country that owns the world’s largest oil reserves is running out of cash, analysts said. From USD 30 billion in reserves...

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Arctic frictions create business for icebreaker industry

Reviving the North Sea Route requires a lot of financial investment and specific technological innovations. Despite “friction points,” several countries including the United States, Canada and Russia have been carrying out intensive task in the Arctic region for years to explore and develop in the...

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Algiers Accord is landmark achievement

“Through a shared vision, among both OPEC and non-OPEC producers, collaborative and timely intervention was taken to address the prevailing market realities,” said HE Mohammad Sanusi Barkindo, OPEC Secretary General, at the International Petroleum Week in London (UK). With the Algiers Accord agreed in September […]

Petrochemical hassle between Iran, Qatar and Total

Prior to the lifting of international sanctions against Iran in January 2016 within the framework of the Nuclear Deal (JCPOA) signed by the major powers (P5+1) in July 2015, the French energy group Total had started effective talks with Tehran with a view to exploring...

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16 trillion dollars needed by 2040

OPEC Secretary General, HE Mohammad Sanusi Barkindo, recently gave an interview to the Petroleum Review. Appearing in the February edition of the magazine, the Secretary General provided insights into the role of OPEC, the outlook for the oil market and the future of the global […]

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