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The launch of China's yuan-denominated oil futures will mark the culmination of a decade-long push by the Shanghai Futures Exchange (ShFE) aimed at giving the world's largest energy consumer more power in pricing crude sold to Asia. The exchange said on Friday it had set the opening price for the front month of its crude futures contract launching on Monday at 416 yuan ($65.80) per barrel. WHAT ARE THE CONCERNS AMONG FOREIGN INVESTORS?
Whitehaven Coal Limited (ASX:WHC) delivered a less impressive 15.08% ROE over the past year, compared to the 17.04% return generated by its industry. An investor may attribute an inferior ROERead More...
Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending March 20 on Friday.
Investing.com – WTI crude oil prices settled at eight-week highs as the prospect of an extension to OPEC-led production cuts into 2019 overshadowed data showing the number of U.S. oil rigs rose to a three-year year.
TORONTO (Reuters) - Canada's main stock index fell to a five-week low on Friday, led by declines for financial and industrial shares, as domestic data showed hotter-than-expected inflation and fears of a global trade war gripped investors. * Wall Street tumbled on Friday with more than 1,000 points knocked off the Dow in two days as investors, increasingly nervous about a potential U.S. trade war with China, shied away from risk ahead of the weekend and sought shelter from further losses. ...
French oil major Total will begin drilling its first deepwater exploration well at a block it operates in the Gulf of Mexico in October, according to a plan approved on Friday by Mexico's National Hydrocarbons Commission (CNH). U.S. major ExxonMobil is an equity partner in the Total-led consortium, which won the development rights to Block 2 in Mexico's first deepwater oil auction in late 2016.
Among all the industries belonging to the Energy sector, US Exploration seems lucrative with healthy free cash flow and declining debt load.
The Communities Secretary Sajid Javid has denied permission to build a new coal mine in Northumberland, overruling the wishes of the local council and the recommendation of his own planning inspector. The secretary of state said the proposed open-cast Highthorn mine near Druridge Bay would have a “very substantial” impact on greenhouse gas emissions and climate change, and on the character of the landscape. Mr Javid also found that “the proposal would not represent sustainable development”. Developer Banks Mining had said the mine would be a source of three million tonnes of coal over 10 years that would otherwise be imported, creating 100 jobs and generating £87m for the local area. But campaigners argued that the mine would cause “massive environmental destruction right next to one of Northumberland’s most beautiful and loved beaches”. The mine, which would have been the largest opencast site in the UK, was approved by Northumberland County Council and backed by planning inspector John Woolcock, before being called in for review by the secretary of state last year. While acknowledging the environmental impact of the mine, the inspector had noted “a ‘window’ currently exists to use Highthorn coal” before coal plants are phased out in 2025 under the Government’s existing energy policy. Gavin Styles, managing director at Banks, slammed the Government’s “absolutely perverse decision”. "The UK is still dependant on coal for a number of purposes, and at a time of great economic uncertainty, we firmly believe that the importance of securing investment in North East England, creating dozens of high quality local jobs, and opening up opportunities for regional suppliers to win substantial contracts could not be any clearer,” he added. Mr Styles suggested Banks would appeal the ruling, saying it "owed" its staff and customers "to not just leave things here". Lynne Gargett, spokeswoman for the Save Druridge campaign, said: "The Save Druridge team is pleased that the secretary of state has understood the immense impact coal has had on climate change and also on communities which have had to live with opencast mines on their doorsteps."
The Zacks Analyst Blog Highlights: Concho, Continental, Northern Oil, WildHorse and Bonanza Creek
When African Petroleum Corporation Limited (OB:APCL) released its most recent earnings update (30 June 2017), I wanted to understand how these figures stacked up against its past performance. The twoRead More...
March 23 (Reuters) - Southern Acids (M) Bhd: * FEB PRODUCTION OF CRUDE PALM OIL 7,747 METRIC TONNE, PALM KERNEL 2,079 METRIC TONNE, FRESH FRUIT BUNCH 5,993 METRIC TONNE Source text :( https://bit.ly/2G56Myr ...
India has proposed to build a pipeline from the country's east coast to deliver oil products, mainly diesel, to Myanmar, a Myanmar government official said on Friday. "We have already connected (oil and gas) pipelines to China and Thailand, and we considered connecting (oil) pipelines to India as well as Bangladesh. This is under consideration to share petroleum products," Zaw Aung, director general of the Ministry of Electricity and Energy's oil and gas planning department, said at the OTC Asia conference.
Investing.com - Oil prices rose on Friday morning in Asia, lifted by a statement from Saudi Arabia that production curbs led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia will need to be extended into 2019.
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures edged into positive territory on Thursday evening, recovering ...
Investing.com – Gold prices eased from two-week highs as the dollar turned positive after bouncing off lows but mounting fears over the prospect of a trade war stoked demand for the precious metal.
The energy sector has continued to underperform compared to the S&P 500, despite a rebound in oil prices. Read more for a look at the energy sector ahead of Q1 earnings.
Marathon Pipe Line, unit of Marathon Petroleum Corp, has agreed to pay $335,000 in federal, state and civil penalties to resolve Clean Water Act violations stemming from a 2016 spill in the Wabash River, ...