Proshares Ultra Bloomberg Crude Oil ETF News

By Alexandra Dominic ENUGU(GVE)- House of Representatives has called on the Federal Government to investigate the recent explosion of a Crude Oil Vessel at the Escravos Estuary in Delta State. During a plenary on Wednesday, the House, consciously asked the Federal Ministry of Petroleum Resources to investigate the cause of the explosion on the Floating Production Storage and Offloading Vessel (FPSO), the Trinity Spirit to prevent a recurrence of the incident. Also, it called on the Government to as soon as possible, alleviate the effects of the explosion on affected communities by embarking on a clean-up of the polluted waters and the coastlands, as well as provide relief materials and pay adequate compensation to those affected by the oil spill. The House resolved at following the adoption of a motion sponsored by Julius Pondi from Bayelsa State at the plenary. Pondi noted that the report of a massive explosion, which occurred recently on a floating production storage and offloading crude oil vessel called the Trinity Spirit and its subsequent sinking off the coast of the country at the Escravos Estuary in Delta State.

Domestic petroleum consumption climbed in early February, driven by robust demand for gasoline, while production only crept ahead and inventories dropped

The post U.S. Crude Inventories Dive Lower as Demand Outstrips Production, Imports appeared first on Natural Gas Intelligence

Big energy companies should be paying more to help families deal with the cost of living, the first minister claimed.

By Nia Williams CALGARY, Alberta (Reuters) The Canadian province of Alberta on Wednesday formally initiated a trade challenge to recover its investment in the Keystone XL oil pipeline, which was scrapped in 2021 after the United States cancelled a key permit.

More than two-fifths of Indian car buyers are considering cleaner options other than petrol and diesel for their next vehicle but they are not willing to pay a large premium to make that switch, a new survey found.However, the currency of all-electric vehicles remains low in the market as more consumers prefer options like hybrids and CNG, as per the 2022 Global Automotive Consumer Study by Deloitte. About 5% of the roughly 1000 Indians polled are considering buying an electric car, up from 4% a year ago.The top drawing factor towards electrified vehicles all-electric and hybrid for most consumers was their concern about climate change. Indian cities like Delhi are notorious for having some of the worst quality air in the world. That is closely followed by the lower operating costs that these vehicles usually have as a drawing factor, the survey found.The survey was conducted over the phone with the participants being incentivised through gifts.The key takeaway is that the number of people looking at an alternate to petrol or diesel has gone up, Rajeev Singh, partner and automotive leader at Deloitte India told ET.

Green Energy International Limited has always emphasized the importance of delivering reliable and affordable energy to the world without jeopardizing environmental and social excellence. It is a commitment to this sustainable culture that propelled the Company to prioritize, plan and implement the development of associated gas reserves in parallel with the oil reserves; a very atypical strategy that clearly separates us from our peers in the industry. The post Green Energy ahead of peers, set to unveil LPG Extraction and Power Plants on Otakikpo marginal field appeared first on Premium Times Nigeria .

Major Gulf bourses rose on Wednesday, tracking a rally in global peers amid higher oil prices, with the Qatari index rising more than 1% as investors found comfort in a strong earnings season. Asian shares and European stock futures advanced after a strong session on Wall Street, while US treasury yields held near multi-year highs ahead of a closely watched inflation data this week. Oil prices climbed as industry data showed an unexpected drop in US crude and fuel stocks, offsetting concerns of a possible rise in supplies from Iran. Major Gulf bourses end mixed in trade; Dubai index ends up 0.8% The Qatari index rose as much as 1.3%. Shares of Industries Qatar QPSC jumped as much as 8.7% after the petrochemical firm reported a sharp rise in annual profit on Tuesday. Saudi Arabia''s benchmark index was trading 0.1% higher, as shares of financials and communication services companies gained. Dubai''s main share index edged 0.1% higher, driven by gains in heavyweight Emaar Properties and Dubai Islamic Bank (DIB).

SINGAPORE (ICIS)--Chinas polypropylene (PP) futures prices fell by 3% on Wednesday, according to Dalian Commodity Exchange (DCE) data. May 2022, the most actively traded PP futures contract at the

DUBAI: First Abu Dhabi Bank, the UAE''s biggest lender, is in talks to buy Egyptian bank EFG Hermes, which has a market value of over $970 million, two sources with knowledge of the matter said. Rothschild is advising FAB on the deal, the sources said , which would be its second major transaction in Egypt after it bought the Egyptian business of Lebanon''s Bank Audi last year. Geopolitical tensions hit UAE stocks, oil supports Saudi shares FAB did not immediately respond to a Reuters request for comment.

Oil benchmarks are bullish towards the start of the London trading session as industry data reveal an unexpected drop in the US crude and fuel stocks. The post Oil bullish after data shows drop in US oil inventory appeared first on Nairametrics .

When economies across the globe started seeing improvements and crude oil prices going over $90 a barrel, nearing $100, Aramco’s finances recovered, freeing up money for the investment.

The Nigerian National Petroleum Company (NNPC), has intensified its petrol supply commitment in a bid to avoid fuel scarcity in the country. Following the discovery of methanol in over what suppliers estimated to be over 100 million litres of petrol, queues have returned to filling stations, which signaled fuel scarcity. However, even though the NNPC has enough petrol to supply, it has been directed to urgently address the shortage of the commodity, which may drag till the weekend. Continue reading NNPC Intensifies Petrol Supply To Avoid Fuel Scarcity at BizWatchNigeria.Ng.

The differentials of Abu Dhabi''s flagship Murban crude to the S&P Global Platts Dubai benchmark have risen sharply as similar arbitrage grades such as WTI Midland and Forties turn increasingly expensive, various sources said. The price of light, sour Murban crude has climbed steeply this month with the differential to Platts Dubai pegged at $5.90/b at the Asian close Feb.