Oil Surges Past $110 Amid Global Tensions & Tech Stock Sell-Off
Geopolitical conflicts in the Middle East and Eastern Europe drive Brent crude higher, sparking inflation fears and tech market declines.
Business Tabloid Desk2 min read
Topic
Oil and Gas
42 stories
Oil Prices Fall as Diplomatic Efforts Clash With Middle East Tensions
Global crude valuations dip slightly amid US-brokered ceasefires, despite intensifying conflict risks across major maritime trade routes.
Business Tabloid Desk1 min read
ONGC Targets Venezuelan Oilfields Amid US Licensing Hurdles
India’s energy giant seeks full operational control of PDVSA assets to recover dividends and boost global crude production.
Business Tabloid Desk2 min read
Global Oil Prices Surge Past $100 Amid Middle East Conflict
Geopolitical tensions in the Middle East have pushed global oil prices significantly past $100 per barrel. Global oil prices surged remarkably beyond $100 per barrel on Monday. Consequently, this increase reflects deep disruptions in Middle Eastern supply chains. Furthermore, the ongoing US-Israeli conflict with Iran severely impacts international energy markets. Meanwhile, Iran recently named Mojtaba Khamenei to succeed his father as supreme leader.
Vinay Prakash2 min read
Global Markets Plunge as Investors Dash for Cash Amid Iran Crisis
Escalating tensions in the Middle East have triggered a massive global sell-off, leaving investors scrambling for cash as traditional safe havens fall. (Reuters)
Vinay Prakash2 min read
UAE Motorists Celebrate Price Drop as December Fuel Rates Fall
The UAE Fuel Price Committee officially released the approved fuel rates for December.
Vinay Prakash1 min read
AwardsPress Release
Petromin Express Wins the Customer Service Excellence Award at Business Tabloid Awards 2024
Riyadh, Saudi Arabia – Petromin Express, recognised for its services, was awarded the “Customer Service Excellence in Automotive Solutions” at the 6th Annual Business Tabloid Awards in recognition of the company’s continuous efforts in revolutionising automotive care through hyper-personalised services, innovative technology, and sustainability. Petromin Express set the pace in the industry by embracing the […]
Vinay Prakash2 min read
Nigeria’s Ogbonnaya says Country Requires $20bn Annual Investment in Gas Infrastructure to Boost Expansion
Nigeria requires an estimated $20 billion annual investment in gas infrastructure to boost expansion, said Dr Orji Ogbonnaya, executive secretary of Nigeria Extractive Industries Transparency Initiative (NEITI), reported in the Nigerian Tribune. The report added that Ogbonnaya, in his presentation, urged the need for the government to put in place a national gas utilisation policy […]
Anne Florentyna1 min read
ONGC Plans to Set Up Two Oil-to-Chemical Plants in India
Oil and Natural Gas Corp Ltd (ONGC) is looking at setting up two oil-to-chemical plants in India to convert crude oil directly into high-value chemical products, as the company prepares for its energy transition, said Arun Kumar Singh, Chairman, ONGC, Economic Times reported. Crude oil is a liquid petroleum product formed from the remains of […]
Anne Florentyna2 min read
India Hikes Windfall Tax on Domestic Crude to Rs 4250 per tonne from August 1
India hikes windfall tax on domestically produced petroleum crude. The Special Additional Excise Duty (SAED) on crude petroleum increased from Rs 1600 per tonne to Rs 4250 per tonne. The SAED on diesel increased from zero to Rs 1 per litre. These new rates will be effective from August 1, 2023. However, this move will […]
Savita V Jayaram1 min read
UAE extends cooperation to Bangladesh to help overcome energy crisis
Bangladesh’s energy sector is heavily reliant on imports. The country has been importing LNG from Qatar and Oman to meet its huge demand for the fuel. Also it’s been grappling with power cuts resulting from shortage of fuel in recent times. UAE Industry and Advanced Technology Minister, Dr. Sultan bin Ahmed Al-Jaber went to Dhaka […]
Savita V Jayaram1 min read
Abu Dhabi’s ADNOC Gas to raise $2B from IPO
Abu Dhabi National Oil Co (ADNOC), the state-owned oil giant, announced on Thursday that it has set a pricing range for the initial public offering (IPO) of its gas subsidiary, which has the potential to raise up to $2 billion and value ADNOC Gas’ stock at between $47 billion and $50.8 billion. This is the […]
Vandana Srinivas1 min read