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The predicaments that have beleaguered some of the major global oil companies – in courts and within their own boardrooms – have proven beyond doubt that they will no longer be able to ignore the facts of science, rule of law and the pressure of public opinion.
The recent developments also showed that Saudi Arabia, the largest oil exporter in the world, was right in initiating its proactive policies, not only in terms of committing to the provisions of the Paris Climate Agreement and the reduction of carbon emissions from its oil industries, but also by advancing doable alternatives. This was evident in the Circular Carbon Economy, Green Saudi Arabia and Green Middle East initiatives.
KUALA LUMPUR (June 5): The FTSE Bursa Malaysia (FBM KLCI) is expected to trade sideways next week with the level of resistance located at 1,600 to 1610 points. Market players will be monitoring the country’s April industrial production index to be released by the Statistics Department and the European Central Bank’s (ECB) policy rate meeting. Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the holiday-shortened week would contribute further to the market lull as there seemed to be no new fresh catalyst in the market.
As crude prices climb on higher demand, the energy sector gets stronger. Keyera stock and Gibson Energy stock are the top picks if you want high dividend yields besides potential capital gains.
Oil extended gains on Friday, topping $72 a barrel for the first time since 2019, as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the globe. The Organization of the Petroleum Exporting Countries (OPEC) and allies on Tuesday said they would stick to
Filipino motorists will need to cough up higher budget for their fuel consumption again next week as prices are anticipated to rise at the pumps.
Oil companies said that diesel products could rise a heftier P0.55 to P0.65 per liter; while gasoline prices by a marginal upward adjustment of P0.10 t