Tag: oil

DFA: Libyan high court acquits seven Filipino seafarers of economic sabotage

(Eagle News) — Seven Filipino seafarers who were accused of attempting to smuggle six million liters of fuel in Libya have been acquitted. In a statement, the Department of Foreign Affairs said Arthur Soria Taleno, master; Fulgencio Pederito Eulogio, first officer; Claro Camintay Allera, second officer; Abraham Senara Naduma Jr., third officer; Ronnie Lumales Moniya, chief engineer; Gil Dellupac Cruzada, second engineer; and Aldwin Salang-oy Emperada, third engineer;  of the M/T L:evante were ordered released […]

Continue Reading →

Saudi crown prince meets Chinese president, bags oil deal

Saudi Crown Prince Mohammed bin Salman met China’s President Xi Jinping on Friday and bagged a $10-billion oil deal, pressing on with his diplomatic charm offensive in Asia following a global outcry over the Khashoggi killing. Mohammed arrived in Beijing on Thursday following visits to Pakistan and India, showing the world that his country still has allies after the grisly murder of Saudi journalist Jamal Khashoggi at the kingdom’s Istanbul consulate. “China is a good […]

Continue Reading →

Presyo ng produktong petrolyo tataas simula bukas, Peb. 19

(Eagle News) — Muling magtataas ang presyo ng produktong petrolyo simula bukas pebrero 19. Sa abiso ng Shell, PTT, at Petro Gazz ang kanilang dagdag sa kada litro ng gasolina at diesel at Php 0.70. Habang Php 0.35 naman ang itataas sa kada litro ng gaas ng Shell. Epektibo ito pagsapit ng alas-sais ng umaga bukas at asahang mag-aanunsyo rin ang iba pang oil companies. Ang panibagong oil price hike ay bunsod ng pagtaas ng […]

Continue Reading →

Global energy demand to soar one third by 2040: BP

LONDON, United Kingdom (AFP) — Global energy demand will surge by a third over the next two decades on advancing prosperity, but Indian demand growth will eclipse that of flagging giant China, Britain’s BP forecast Thursday. “The demand for energy is set to increase significantly driven by increases in prosperity in the developing world,” BP said in its Energy Outlook 2019 for the industry. “This improvement in living standards causes energy demand to increase by […]

Continue Reading →

OPEC oil production falls as S.Arabia slashes output

PARIS, France (AFP) — Global oil cartel OPEC said Tuesday it sharply reduced crude oil production last month, after heavyweight Saudia Arabia slashed output and exports fell in crisis-hit Venezuela. In its monthly report, OPEC said it produced 797,000 fewer barrels per day in January than in the previous month, a decrease in line with the cartel’s pledge to curb output in a bid to boost sagging prices. The decrease by the group of 14 […]

Continue Reading →

US imposes sanctions on Venezuela state oil firm PDVSA

WASHINGTON, United States (AFP) — The United States imposed sanctions on Venezuela’s state oil company PDVSA on Monday in the latest effort to ramp up pressure on the country’s President Nicolas Maduro. Treasury Secretary Steven Mnuchin said the sanctions prevented Maduro from diverting more resources from the crisis-damaged country until control in Caracas could be transferred to an interim government or new democratically-elected government. However, Mnuchin said PDVSA’s US-based subsidiary Citgo would be able to […]

Continue Reading →

Mexico launches social programs to fight fuel theft

ACAMBAY, Mexico (AFP) — Mexico’s president announced a series of social programs Tuesday aimed at developing poor areas where fuel theft has become a booming industry, after a pipeline tap gone wrong killed 93 people. President Andres Manuel Lopez Obrador, who blames poverty for the thriving black market in stolen gasoline, said his government would spend around $200 million on pensions, small-business loans, a youth employment scheme and other programs to help 1.7 million people […]

Continue Reading →

Mexico probes negligence in pipeline blast that killed 91

MEXICO CITY, Mexico (AFP) — Mexico has opened an investigation into what caused a deadly pipeline explosion, including possible negligence by authorities, the attorney general said Monday, as the death toll rose to 91 people. It is still unclear exactly how events unfolded leading up to the Friday blast, which occurred as hundreds of people rushed to collect fuel in buckets and jerrycans from a geyser of gasoline that was spouting from an illegal pipeline […]

Continue Reading →

Death toll from Mexico fuel explosion rises to 79: official

TLAHUELILPAN, Mexico (AFP) — The death toll from a fiery explosion in central Mexico rose to 79 on Sunday as authorities vowed to hold accountable those responsible for a fuel-line leak that drew hundreds of people looking to gather gasoline. The search for remains at the site of the explosion in the state of Hidalgo ended late Saturday but officials indicated that the death toll could still rise. Health Minister Jorge Alcocer said 66 people […]

Continue Reading →

Fuel pipeline blaze in Mexico kills 20, injures dozens: officials

MEXICO CITY, Mexico (AFP) — A leaking fuel pipeline triggered a massive blaze in central Mexico Saturday, killing at least 20 people and injuring another 54, officials said. Omar Fayad, governor of Hidalgo state, said locals at the site of the leak were scrambling to steal some of the leaking oil when at least 20 of them were burned to death. “I’ve been told that 20 have been burned to death and another 54 burn […]

Continue Reading →

Oil firms implement bigtime price hike on petroleum products

(Eagle News) — Big oil companies started to implement a big-time price increase on its petroleum products on Tuesday, January 15. Gasoline prices increased by Php 1.45 per liter while diesel prices increased by Php 2.30 per liter. Oil companies such as Petro Gazz, Total, Jetti, UniOil, Phoenix, Petron, Flying V, Seaoil and Shell implemented the price adjustment on its petroleum products starting 6:00 am today. Eastern Petroleum and Caltex were the first to implement […]

Continue Reading →

Saudi to slash oil exports after price slide: minister

RIYADH, Saudi Arabia (AFP) — OPEC kingpin Saudi Arabia will slash its oil exports in January by 10 percent compared to November, its energy minister said Wednesday as producers move to shore up tumbling prices. Khalid al-Falih said the kingdom, the world’s top crude supplier, would cut its exports to 7.2 million barrels per day in January, down from 8.0 million bpd in November. He also announced a further 100,000 bpd cut in February. OPEC […]

Continue Reading →
1 … 25 26 27 28 29 … 39