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by Joseph Sotinel and Simon Morgan Agence France Presse VIENNA, Austria (AFP) — OPEC members and other oil-producing countries mulled cuts in output Thursday to prop up plunging prices, defying repeated calls by US President Donald Trump that they keep the taps open. “We’re looking for a sufficient cut to balance the market, equally distributed between countries,” Saudi oil minister Khalid al-Falih told reporters ahead of an OPEC meeting in the Austrian capital. Oil […]
WASHINGTON, United States (AFP) — US President Donald Trump on Wednesday urged OPEC members not to slash production at their upcoming meeting, saying global oil prices should remain low. Trump’s comment came as members of the Organization of Petroleum Exporting Countries and other oil-producing nations prepared to meet Thursday and Friday in Vienna to discuss lowering their output. “Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want […]
by Joseph SOTINEL and Simon MORGAN Agence France Presse VIENNA, Austria (AFP) — OPEC members and other oil-producing countries gather in Vienna on Thursday to discuss cutting output to prop up prices, as US President Donald Trump urged them to keep the faucets open. Oil ministers from 20 or so countries busily criss-crossed the Austrian capital on Wednesday for preparatory negotiations ahead of the two-day meet at the headquarters of the Organization of Petroleum Exporting […]
Oil prices soared on Monday after Russia and Saudi Arabia renewed a pact to cap output, while the US agreed to halt raising tariffs on Chinese imports, stalling a trade row that many feared could hit demand for the commodity. Russian President Vladimir Putin said Saturday he and Crown Prince Mohammed bin Salman “have agreed to extend our agreement” to limit production as prices slump on global markets. An existing deal committing OPEC and non-members […]
(Eagle News) — Sa ikawalong sunod-sunod na linggo ay may rollback sa presyo ng mga produktong petrolyo. Pinangunahan ng Phoenix Petroleum noong Sabado ang tapyas sa presyo ng langis sa kanilang p2.00 rollback sa presyo ng kada litro ng gasolina at diesel. Ang Petro Gazz ay may kaparehong rollback ng sa Phoenix Petroleum ngunit epektibo pa bukas, Martes alas-sais ng umaga. Mas malaki naman nang kaunti ang rollback ng Seaoil na may tapyas na P2.00 […]
(Eagle News) — Good news for consumers. On the first day of December, expect huge price rollback for prices of Liquefied Petroleum Gas. Petron has announced that it will rollback Gasul and Fiesta Gas prices by as much as P70 per 11-kilogram cylinder tank, or a decrease of P6.40 per kilogram effective 12:01 a.m. December 1. Auto LPG prices will likewise be slashed by P3.50 per liter after midnight later tonight. Other LPG players like […]
HONG Kong, China (AFP) — Asian markets mostly rose Friday bringing a broadly upbeat week to a positive end as attention turns to the much-anticipated meeting between Donald Trump and Xi Jinping. Energy firms enjoyed gains after a rally in oil prices, while high-yielding and emerging market currencies continued Thursday’s advances against the dollar as the Federal Reserve shows signs it will slow down its pace of interest rate hikes. While the outcome of […]
(Eagle News) — The country’s economic managers have withdrawn their recommendation to suspend the implementation of the second round of increase in the excise taxes of petroleum products under the Tax Reform for Acceleration and Inclusion Law. Finance Secretary Carlos Dominguez and Budget Secretary Ben Diokno made the announcement in a press conference on Thursday, Nov. 29. According to Dominguez, the decision to push through with the increase was arrived at by the Development Budget Coordination […]
(Eagle News) — The series of reduction in the prices of petroleum products is due to the ample supply of petroleum in the international market, according to the Department of Energy (DOE). In an interview with Eagle News Service, Energy Assistant Director on Oil and Management Bureau Rodela Romero explained that the crude oil pricing in the world market affects oil prices in the country, particularly because we are highly dependent on imported fuel. Romero […]
(Eagle News) – Today and tomorrow, oil firms implement its seventh price rollback on petroleum products as global crude prices continued to go down. The prices of diesel were reduced by as much as P2.20 to P2.30 per liter, while that of gasoline were cut by P1.10 per liter. The price of kerosene, on the other hand, was reduced by a hefty P2.10 a liter. Phoenix Petroleum led the price cuts adjusting their prices as […]
(Eagle News)—Communist Party of the Philippines founder Jose Maria Sison said the signing of the memorandum of agreement on oil and gas development between the Philippines and China was a “clear act of treason.” “…(It is a) blatant betrayal of the sovereign rights and national patrimony of the Philippines and the Filipino people,” he said. For one, he said the MOU “waste basket” the international arbitral ruling that nullified China’s excessive claims in the South […]
(Eagle News) — Marami pang mga kumpaniya ng langis ang magpapatupad ng roll back sa presyo ng mga produktong petrolyo ngayong linggo. Ngayong araw, nagpatupad na ng rollback ang Jetti Petroleum ng Php 1.10 sa kada litro ng diesel habang Php 1.30 naman sa kada litro ng gasolina. Samantala, bukas ay nakatakda namang magpatupad ang Shell, PTT Philippines at Total Php 1.25 sa kada litro ng gasolina, habang Php 1.10 sa kada litro ng diesel. […]
