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Malaysia’s Petronas to cut 10% of workforce on profit slump
The company will reduce headcount by more than 5,000 people, and all those affected will be informed by the end of the year, CEO Muhammad Taufik said in a briefing in KL.
June 05, 2025
Oil & Gas
European gas edges higher as Norwegian maintenance curbs flows
Benchmark futures gained as much as 1.2% on Thursday as the Kollsnes gas processing plant in Norway began its seasonal works.
June 05, 2025
Oil & Gas
OPEC output dips in December as UAE improves delivery of cuts
Output from the Organization of Petroleum Exporting Countries fell by 120,000 barrels a day to 27.05 million a day, with the UAE accounting for most of the drop.
January 07, 2025
Oil & Gas
OPEC+ agrees to extend output cuts in bid to support prices
The so-called “voluntary” cuts from key members will continue until the end of 2024.
June 02, 2024
Oil & Gas
US to sell 26 mil more barrels from strategic oil reserve
The congressionally mandated sale will amount to 26 million barrels of crude, according to people familiar with the matter.
February 14, 2023
Oil & Gas
China reopening will be 'key support' for oil in 2023: DBS
The analysts expect Brent crude oil prices to average between US$85 to US$90 per barrel in 2023.
February 06, 2023
Oil & Gas
Oil set for fourth weekly loss with rate hikes darkening outlook
West Texas Intermediate futures edged higher toward US$84 ($119.17) a barrel, but are still down more than 1% for the week.
September 23, 2022
Oil & Gas
The era of expensive oil is here to stay
Demand for fuel is still growing as the world picks up where it left off before Covid-19 lockdowns: Bloomberg's Will Kennedy.
July 18, 2022
Oil & Gas
Oil advances after slumping on back of IEA reserve release plan
West Texas Intermediate rose past US$97 ($131.89) a barrel after retreating by more than US$5 on Wednesday.
April 07, 2022
Oil & Gas
Biden orders record oil release from US reserve to tame prices
Biden will order as much as 180 million barrels released from US reserves over the next several months.
March 31, 2022