feed: Energy Stories
Oil prices firmed on Friday on the back of expected supply cuts by OPEC, though record U.S. production weighed.
Saudi Arabia convinced oil producers to hike output ahead of tough U.S. sanctions on Iran, but the Trump administration ultimately allowed some of the Islamic Republic's biggest customers to keep importing its crude.
Saudi Aramco may consider spinning off its growing downstream division, but it needs to complete its planned acquisition of a strategic stake in Saudi petrochemical maker SABIC first, strategists say.
Houston-based Petroleum Products & Services, Inc d/b/a Wellhead Distributors International (WDi) has emerged from Chapter 11 Bankruptcy with a Plan of Reorganization unanimously supported by all creditors and litigants. Presiding Judge Isgur agreed with the supporters of the plan citing “insurmountable evidence in support of the WDi plan,” approving it immediately. According to Alex Kiss, […]