World Business News
Ukrainian Drone Strikes Cut Russia’s Refining Capacity by 30%
Ukrainian drone strikes have cut Russia's oil refining capacity by about 30% since late October, Reuters reported citing industry sources.
Category: oil and gas
World Business News
Oil Falls to Lowest Since August on Iran De-escalation Hopes
Brent crude slid to its lowest since late August after Trump downplayed new strikes on Iran, easing inflation fears and lifting Asian stocks.
Tech
Anthropic Buys US$3.4 Billion of Gas Generators for AI Power
Gas Generators - Anthropic has agreed to spend US$3.4 billion on 1.7 gigawatts of gas-fired generators from Texas-based OnePWR Solutions to power its data…
World Business News
Iran War Cost Each US Household Nearly US$2,000, Zandi Estimates
The Iran war has cost the average US household nearly US$2,000, mostly through higher energy and transport costs, Moody's Analytics' Mark Zandi estimates, as…
Business News
PETRONAS and Tenaga Nasional Elevate Malaysia on the Global Energy Stage
PETRONAS and Tenaga Nasional have achieved top global rankings in Brand Finance’s Energy 100 2026 report, reinforcing Malaysia's growing energy influence.
World Business News
Aramco Q3 Profit Jumps 34.5% as War Lifts Oil Prices
Saudi Aramco's third-quarter net profit rose 34.5% to US$36.25 billion on higher oil prices and a gain from selling its Malaysian PRefChem stake to…
World Business News
Mitsubishi Brings In Blackstone-Led Group for US$3.1 Billion Stake in LNG Canada Unit
A Blackstone-led group including four Canadian pension funds will take a 49.9% non-controlling stake in the Mitsubishi Corp subsidiary holding its 15% interest in…
World Business News
Oil Slides on Hormuz Deal Hopes as Goldman Lifts Brent Forecast
Oil prices fell sharply on Monday on hopes of a US-Iran deal to reopen the Strait of Hormuz, even as Goldman Sachs raised its…
Tech
ADNOC, G42 Sign OpenAI Deal to Deploy AI Agents Across Operations
Abu Dhabi National Oil Company and G42 have signed a multi-year partnership with OpenAI to roll out its Frontier AI agent platform across ADNOC's…
OPEC
OPEC+ Maintains Production Limits as Hormuz Geopolitical Uncertainties Loom
OPEC+ keeps December crude output steady, while Rystad Energy warns of fragile "pseudo-normalization" across the vital Strait of Hormuz.
World Business News
ExxonMobil Q3 Profit Beats Estimates as Refining Earnings Jump 120%; Adjusted EPS US$4.23
ExxonMobil posted Q3 adjusted EPS of US$4.23, above the US$4.08 estimate, as downstream earnings jumped 120% to US$9 billion on refining margins, while it…
oil and gas
Brent hits US$117 as Houthi attacks disrupt Saudi oil shipments
Brent crude has climbed to US$117 per barrel as Houthi attacks disrupt Saudi infrastructure, raise shipping costs and intensify global inflation concerns.
Business News
Global LNG Buyers Face US$39 Billion Cost Surge Amid Middle East Supply Disruptions
Global LNG importers will spend billions more in 2026 despite lower purchases as supply disruptions reshape energy markets.
World Business News
EQT to Buy Range Resources in All-Stock Deal Creating US Gas Producer Valued Above US$50 Billion
EQT has agreed to acquire Range Resources in an all-stock deal giving the combined natural gas producer a pro forma enterprise value of more…
Stocks and Markets
Wall Street Falls as Oil Spike and Fed Uncertainty Weigh on Investors
US stock indices fell as rising oil prices and geopolitical tensions affected sentiment ahead of the Federal Reserve's policy meeting.
Petronas
PETRONAS, TotalEnergies and Mitsui Ink JV to Advance Southern CCS Hub
PETRONAS, TotalEnergies and Mitsui have formed a joint venture to develop Malaysia’s Southern Carbon Capture Storage Hub.