Global oil demand will decrease by 2.8 per cent or 2.8mn bpd per day year-on-year as the spread of coronavirus continue to escalate, according to consultant Rystad Energy
Industry
Saudi Aramco makes US$88bn profit in 2019
The Saudi Arabian Oil Company (Saudi Aramco) has announced its full-year 2019 financial results, delivering strong profits and dividends despite a lower price environment and challenging margins in refining and chemicals
Oil prices fall as coronavirus measures slash travel demand
The petroleum complex continued to tumble Monday, with Dated Brent falling below US$30 per barrel, and some gasoline crack spreads turning negative, as measures taken to slow the spread of the coronavirus have drastically slowed demand
GP Global launches new operation in Jebel Ali Port
Energy company GP Global has launched a new bunkering operation in the port of Jebel Ali, UAE
Oil price collapse is credit negative for Gulf Cooperation Council banks
A prolonged period of oil price volatility and low oil prices will be credit negative for the solvency and liquidity of banks operating in the Gulf Cooperation Council (GCC) states, according to credit rating agency Moody
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