Saudi Arabia is taking Aramco public on Riyadh stock exchange next month. Aramco is the most profitable firm worldwide with a net profit of USD 111B last year. Aramco is producing 10% of the global oil! According to international banks, the value of Aramco is USD 1.5 trillion, less than the expectation of Saudi Arabia…
Cosco Shipping Energy Transportation Company Which was fined by US because of working with Iran, opened on Monday and fell -21.14% in HKEX! The market value of this company is 28 billion of Hong Kong dollars, equal with USD 3.16 billion. It is worth nothing that 6854 employees are working in Cosco. The market reaction…
Benchmark freight rate for large crude oil carriers from Middle East to China jumped around 18% on Friday because of US sanctions on COSCO Shipping. It is the highest level since 9 months ago. This company is accused as it has been working with Iran! However some of these tankers are now loading US oil…
According to CNBC, the trade war between China and US caused a serious challenge for US economy. Pantheon analysts believe that an agreement between China and US till the end of 2019 should be forgotten and added that both China and US economies are negatively influenced by the cold war. Investigation of the US economic…
Suadi Aramco is going to deliver its crude oil to Asian customers with 7~10 days delay. The delivery of Aramco instant gas is delayed 4~7 days. Also it is heard that Suadi Arabia has substituted the light crude oil with heavy one which was planned to be sent to China and India this week. Saudi…
After the oil price correction on Tuesday and Wednesday, again it started a bullish trend. Oil price had a weekly 7% growth. What stimulates today’s oil market? Aramco asked Iraqi Ministry of Oil to purchase 20 million barrels of oil from Iraq. It destroyed the market’s trust to Saudi Oil Minister’s statements about the continuity…
US gas price increased 15% yesterday which happened after the attacks to Aramco’s oil facilities on Saturday 14th 2019. The average price of gas increased to $2.59, up 3 cents. The US gas price is expected to start an award trend this week. The increase could continue up to a quarter of a gallon this…
Saudi Arabia will face a prolonged disruption in oil output (-5.7million bbl/d) because of the attacks to Aramco oil facilities. It is not clear when the damages can be rebuilt and the 5% reduction in global oil supply be compensated. Bloomberg reported the countries that can support oil supply if the Aramco’s maintenance takes long…
The attacks to Aramco oil facilities on Saturday have caused the oil price to jump to $70 per barrel on September 16th 2019. These attacks disrupted around 5% of the global oil supply. Oil (Brent) price increased to $71.95 per barrel, up 19.5%. Future contracts of Brent also improved to $66.20, up $5.98 (9.9%) compared…
US and Russia are competing with each other in order to take the oil and gas fields in south and north of Iraq. Last week Iraqi Ministry of Oil declared that is going to work with some foreign firms in Mansuriyah gas field located in Diyala province, near the border of Iran. Mansuriyah is expected…
