Saudi Arabia is considering a flexible tax system for state-owned oil company Aramco that would increase royalty payments when crude prices rise, according to people familiar.
Source: Offshore
Saudis Said to Weigh Oil-Price Linked Tax for Aramco Before IPO
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Oil prices rose to 2-month highs, ending the strongest month of the year for crude futures.
Source: Offshore
Oil At 2-Month High, Ends Above A Barrel
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As pessimism over oil dissipates and investors flirt with $50 a barrel again, short-sellers are getting out of the way.
Source: Offshore
Oil Skeptics Exit as Market Dispels Gloom to Flirt With
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Cheniere Energy has begun liquefying the fuel at a fourth plant, keeping the company on a track that will double its export capacity this year.
Source: Offshore
Cheniere Is Said to Be Liquefying Natural Gas at a Fourth Plant
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The German car manufacturer Volkswagen has planned to set up an assembly plant to introduce electric cars in Rwanda, aiming to supply environmentally friendly model vehicles after different studies revealed that vehicles emissions are mostly causing air pollution in Rwanda, especially in Kigali Source: African Review Rwanda to assemble Volkswagen electric cars to control air…
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The Lauca dam in Angola has started producing electricity for the country’s national electricity grid ahead of time, thus adding to the Angolan government’s objective to diversify economy and meet increasing energy demand of a growing population
Source: African Review
Angola’s Lauca dam starts producing power
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Chevron swings to a 2Q profit as the second-largest US oil explorer lifted production from oil and gas wells by the most in more than 7 years. The shares rose.
Source: Offshore
Chevron Swings to Profit Even as Refining Returns Fall Short
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ExxonMobil wrecked the oil industry’s perfect streak of upside profit surprises as the biggest US oil explorer disclosed second-quarter results that failed to live up to analyst forecasts.
Source: Offshore
ExxonMobil Misses Estimates as Cuts Fail to Offset Output Declines
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Oil prices should remain range-bound until historically high global crude inventories show real signs of draining – likely precipitated by slowing OPEC production.
Source: Offshore
Commodity Weekly: Slowing OPEC Production Needed to Drain Stocks
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Physical crude markets are at last showing signs of tightening as record refinery consumption in the United States coincides with a slowdown in oil exports from the Middle East Gulf.
Source: Offshore
Kemp: Physical Oil Market Tightens As Refiners Scramble For Crude
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