Energy Update
LONDON, Sept 26 (Reuters) - Hedge funds have become
increasingly bullish about the outlook for gasoline prices even
as they have become more cautious the prospects for heating oil
this winter.
The failure of Venezuelan state-owned oil company PDVSA to live up to its contractually obligated investments in Curacao’s Isla refinery has come back to bite them and they now risk losing it to China, which has stepped up to the plate with its own plan.
ALGIERS, Sept 25 (Reuters) - Algeria plans to allow its
dominant state banks to list on the local stock exchange to help
develop its financial markets and diversify sources of funding
after the oil price slide, a senior financial official said.
LAUNCESTON, Australia, Sept 26 (Reuters) - It appears that
China is interpreting the "people's well-being" as meaning North
Korea should be able to export record amounts of coal in
defiance of sanctions against the rogue nuclear-armed state.
CANNON BALL, N.D./WASHINGTON, Sept 26 (Reuters) - Three days
after guard dogs attacked Native Americans protesting an oil
pipeline project in North Dakota in early September, an
unprecedented event took place at the White House.
(Mon, 26 Sep 2016) Weekly Energy Snapshots, an album recently launched on the U.S. Energy Information Administration's (EIA) Flickr page, features EIA data visualizations showing pricing, inventories, trade, and other key energy graphics. The album, updated each Friday before noon, shows data and statistics from the week and highlights charts, graphs, maps, and other images.
KUALA LUMPUR, Sept 26 (Reuters) - Malaysian lenders are
bracing for a hit to profits this year as they bump up
provisions for sour loans to the local oil and gas services
sector that has been battered by the slump in energy prices and
cutbacks in projects.
SINGAPORE, Sept 26 (Reuters) - Crude prices rebounded on
Monday after Algeria's energy minister said the day before that
all options were possible for an oil output cut or freeze at
this week's informal meeting of OPEC producers.
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