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Egypt Could Ask for Up to $1 Billion in Compensation for Ever Given Crisis
Egyptian authorities may seek over $1 billion in damages for helping to clear the Ever Given from the Suez Canal, as a dilemma emerges over who might foot the bill.
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OPEC+ Decides to Gradually Curb Output Cuts as Demand Concerns Persist
The ongoing coronavirus crisis continues to cloud the outlook, and analysts expect this to reaffirm Saudi Arabia’s caution about the global economic recovery.
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Saudi Aramco CEO Says Oil Giant Can Still Meet Dividend Expectations as Crown Prince Prioritizes Investments
Saudi Arabia has announced that oil giant Saudi Aramco and petrochemical firm SABIC will fund most of a 5 trillion riyal private sector investment plan.
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Suez Officials Hope Massive Container Ship Operational Saturday, Can't Say When Refloat Will Happen
The owners of the massive ship blocking the Suez Canal aim to refloat the vessel by Saturday night.
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Suez Canal Blockage Could Cause Problems for the Globe: Here's What You Need to Know
The shipping delays could raise gas prices and impact everything from the clothes and shoes you ordered to gym equipment, electronics, food and energy supplies.
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Saudi Aramco Profit Slumps 44% After Covid-Battered Year, But Maintains Dividend
Saudi Aramco also said it expects to cut capital expenditure in the year ahead, and lowered its guidance for spending.
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‘We're Making This a Movement' — Former Xerox CEO Ursula Burns on Corporate Diversity
“You can no longer have a reasonable debate or conversation about not being inclusive,” former Xerox CEO Ursula Burns told CNBC.
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Abu Dhabi Eyes New Partnerships for Carbon Capture and Emissions Cutting as Oil Price Climbs
ADNOC, which pumps more than 3 million barrels of oil a day, has pledged to lower its greenhouse gas emissions and boost CO2 storage.
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U.S. Oil Production Won't Return to Pre-Pandemic Levels, Says Occidental CEO
Occidental CEO Vicki Hollub says the recovery in crude oil demand is happening faster-than-expected, but she doesn’t see a return to pre-Covid levels in the US.
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Oil Prices Jump as OPEC+ Keeps Production Largely Steady, Saudi Arabia Continues Voluntary Cut
Oil prices jumped on Thursday after OPEC and its oil-producing allies said the group would keep production largely steady through April.
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Murban Futures Aim to Consolidate UAE Position as Global Oil Power, But Uptake May Take Time
Abu Dhabi is about to make a major change to its oil pricing, but experts say other big Gulf producers might be slow to follow.
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Chevron CEO on Modern Leadership: You Can't Be Afraid to Make Yourself Heard
Investing in a cleaner future “is not a cliff that will occur abruptly,” Chevron’s Mike Wirth told CNBC. “This will be an evolution more than a revolution.”
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Saudi Arabia and Russia Are at Loggerheads Again, But OPEC Meeting ‘Unlikely to Ruin the Oil Party'
Analysts broadly expect OPEC+ to hike output from current levels, but questions remain over how much exactly and which countries will be affected.
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Crown Prince's Actions in Khashoggi Killing Leave Saudi Fund Vulnerable, Ex-Obama Official Says
The Saudi crown prince’s actions in the killing of Khashoggi might have left the kingdom’s sovereign wealth fund vulnerable to consequences.
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Biden Stresses Human Rights in Call With Saudi King Before Report on Khashoggi Killing Released
The U.S. is preparing to release an intelligence assessment that will reportedly implicate Saudi Crown Prince MBS in the killing of Jamal Khashoggi.
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The Texas Winter Storm May Drive Up Gasoline Prices Across the Country
The Texas freeze is expected to push gasoline prices up across the U.S. by about 10 cents per gallon within the next couple of days.
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Oil Hits Pandemic High as Winter Storm Pushes Demand and Poses Production Risk
Freezing weather sparked another rally in energy and put oil on pace to settle above $60 for the first time since the early days of the Covid-19 pandemic.
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After Oil Hits 13-Month High, Energy Analyst Warns Prices May Be ‘Too Frothy'
After a 23% rally so far this year, one top energy expert warns the commodity may have gotten ahead of itself.
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Oil Giant Shell Says Its Carbon Emissions and Oil Production Have Peaked
It comes at a time when the oil and gas industry is under immense pressure to dramatically speed up its plans to pivot away from fossil fuels.
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The Gulf Blockade's End Offers an Economic Boost for Middle East, But Recovery Will Be Uneven: IMF
Recovery will be varied and based largely on countries’ investments and strategies for vaccine distribution, the IMF’s Jihad Azour told CNBC.