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...Last year, Aramco acquired a 10 per cent stake in Shenzhen-listed Rongsheng Petrochemical for $3.6bn and entered a venture with two other Chinese companies to build a 300,000 b/d refinery and petrochemicals...
...“The question for the Biden administration is whether they have any incentive to utilise the sanctions architecture that the Trump administration used to take down Iran exports by 1mn b/d,” said Helima Croft...
...The IEA now predicts that oil demand will increase by 1.2mn barrels per day (b/d) this year, a 130,000 b/d reduction on its previous monthly forecast....
...But is that a systemic risk? I’d say probably not. One good read A carbon tax by other means....
...The company produced an average of 10.7mn b/d of crude oil and other liquids last year, down from 11.5mn b/d in 2022....
...companies at issue”....
...US production rose by roughly 1.5mn b/d to a record 13.5mn b/d in 2023 while that of Iran increased to an average of roughly 3.9mn b/d from about 3mn b/d a year earlier, said Claudio Galimberti, North America...
...That performance has continued into this year: the S&P 500 index of leading shares hit an all-time high on Friday, driven by strong gains for the largest technology companies....
...As a result, Saudi Aramco is currently producing about 9mn b/d, down from an average of 10.2mn b/d in the first three months of 2022....
...The IEA predicts oil demand will grow by 1.2mn b/d, about half the pace of 2023, while Opec believes demand growth will be higher at 2.2mn b/d....
...No mention of the B-word, then....
...(the “Note”) on the earlier of (a) February 31, 2021, and (b) the date on which all amounts under this Note shall become due and payable pursuant to Section 5 (the “Payment Date”)....
...Morgan Stanley’s chief executive Ted Pick this week argued that the “existential” need for dealmaking from companies was starting to usher in a recovery in investment banking....
...Last week, it announced it had made a new loan to executive networking company World 50 and while filings show it was already a lender to the company, a person close to Barings described it as a “net new...
...The IEA added that record output from the US, Brazil, Guyana and Canada would help boost global supply this year by 1.5mn b/d to a record 103.5mn b/d....
...The United States has led the world economically for the better part of a century. Most of that time period, those companies also paid dividends....
...Purists might object to this description: if things were quite so simple, a PIK would be the same as a zero-coupon bond. And yes, they’d be right. A PIK note tends to give the issuer options....
...Saudi Arabia’s energy ministry on Tuesday asked the state oil company Saudi Aramco to halt a planned 1mn barrels per day expansion in oil production to 13mn b/d. This had been due by 2027....
...“Who’d think Tom Brady would buy a soccer team,” Stillitano said, referring to the seven-time Super Bowl-winning quarterback’s investment in English club Birmingham City....
...Users remain in the walled garden of whichever Big Tech company owns the artificial intelligence platform....
...“Honestly, we feel like there’s an opportunity for a company from Vietnam like us to be a global company when the auto industry is going through a very structural change,” Thuy said....
...It produced 1.16mn b/d in the US in the quarter versus 895,000 b/d previously, boosted in part by its acquisition of PDC Energy....
...Nearest subway stop is Houston Street Station on the 1 line, but West 4th St (A, C, E, B, D and F lines) is just a short walk away. How much? $20 per person....
...Once a top global oil producer, Venezuela’s output collapsed from almost 2.9mn barrels per day in 2014 to below 400,000 b/d in 2020 as years of mismanagement combined with Trump-era “maximum pressure” sanctions...
...The IEA now expects oil demand growth to tumble from a year-on-year rate of 2.8mn b/d in the third quarter of 2023 to 1.9mn b/d in this quarter....
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