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Russian oil giant Rosneft back in black as prices recover | Money


Friday, 14 May 2021 07:01 PM MYT
A logo of Russian state oil firm Rosneft is seen at its office in Moscow, October 18, 2012. Reuters pic
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MOSCOW, May 14 Russian oil giant Rosneft said today that its earnings were back in the black in the first quarter after oil prices recovered following Moscow’s production deals with Opec.
State-controlled Rosneft reported a net profit of 149 billion roubles (RM8.2 billion) in the first quarter, compared with a loss of 156 billion roubles in the same period last year.
It is the latest major oil company to report a spike in quarterly profits thanks to rising crude prices. ....

United Kingdom , Igor Sechin , Organization Of The Petroleum Exporting Countries Opec , Vostok Oil , Petroleum Exporting Countries , ஒன்றுபட்டது கிஂக்டம் , ஆர்கநைஸேஶந் ஆஃப் தி பெட்ரோலியம் ஏற்றுமதி நாடுகள் ஓபெக் , பெட்ரோலியம் ஏற்றுமதி நாடுகள் ,

Saudi Arabia's GDP contracts 3.3pc in Q1 - Newspaper


DUBAI: Saudi Arabia’s economy shrank 3.3 per cent in the first quarter from a year earlier, hit by oil output cuts, but the non-oil economy expanded 3.3pc, recovering from the pandemic, according to flash government estimates on Monday.
The non-oil sector grew for the first time since the first quarter of 2020, the General Authority for Statistics in Saudi Arabia said in a statement. Government services also showed growth of 0.3pc in the first quarter.
Saudi Arabia’s economy, the largest in the Arab world, is expected to grow 2.1pc in 2021 after shrinking 4.1pc last year amid the twin shocks of the coronavirus pandemic and lower oil prices, the IMF said in a recent report. ....

Saudi Arabia , United Arab Emirates , Authority For Statistics , Organization Of The Petroleum Exporting Countries Opec , Public Investment Fund , General Authority , Petroleum Exporting Countries , Crown Prince Mohammed , Saudi Vision , சவுதி அரேபியா , ஒன்றுபட்டது அரபு அமீரகங்கள் , அதிகாரம் க்கு புள்ளிவிவரங்கள் , ஆர்கநைஸேஶந் ஆஃப் தி பெட்ரோலியம் ஏற்றுமதி நாடுகள் ஓபெக் , பொது முதலீடு நிதி , ஜநரல் அதிகாரம் , பெட்ரோலியம் ஏற்றுமதி நாடுகள் , கிரீடம் ப்ரிந்ஸ் முகமது , சவுதி பார்வை ,

Oil prices dip as Opec expects less demand for its crude


Oil prices dip as Opec expects less demand for its crude
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SINGAPORE: Oil prices dipped early on Thursday as producer club Opec said it expected demand for its crude to decline next year as rivals pump more, pointing to a market surplus in 2018 despite efforts to tighten the market.
Brent crude futures were at $47.64 per barrel at 0133 GMT, down 10 cents, or 0.2 per cent, from their last close.
West Texas Intermediate (WTI) crude futures were at $45.37 per barrel, down 12 cents, or 0.3 per cent.
The Organization of the Petroleum Exporting Countries (Opec) said late on Wednesday that the world would need 32.20 million barrels per day (bpd) of crude from its members next year, down 60,000 bpd from this year, as consumers have increasing choice of supplies from outside Opec. ....

United States , Organization Of The Petroleum Exporting Countries Opec , Texas Intermediate , Petroleum Exporting Countries , ஒன்றுபட்டது மாநிலங்களில் , ஆர்கநைஸேஶந் ஆஃப் தி பெட்ரோலியம் ஏற்றுமதி நாடுகள் ஓபெக் , டெக்சாஸ் இடைநிலை , பெட்ரோலியம் ஏற்றுமதி நாடுகள் ,