KUALA LUMPUR (May 29): Petroliam Nasional Bhd (Petronas) has denied speculation over a merger between its indirect unit Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) and Sapura Energy Bhd.

Petronas denies speculation on merger between MHB, Sapura Energy

SINGAPORE (May 29): Oil prices rose on Monday after US leaders reached a tentative debt ceiling deal, possibly averting a default in the world's largest economy and oil consumer, although concerns about further interest rate hikes capped gains.

Oil rises after US leaders strike provisional debt deal

Malaysian state oil firm Petroliam Nasional Bhd (Petronas) said on Saturday (May 27) an anti-corruption probe into the firm's dealings involving a RM399 million project had not found any wrongdoing by the company.

Petronas says MACC found no wrongdoing by the firm

Oil prices were stable on Friday (May 26), as the market weighed conflicting messages on supply from Russia and Saudi Arabia ahead of the next Opec+ policy meeting, a stronger US dollar and worries of weaker-than-expected demand growth.

Oil broadly steady amid Opec+ supply cut uncertainty, demand worries

MOSCOW (May 25): Russia's Foreign Ministry said on Thursday that it had summoned the ambassadors of Germany, Sweden and Denmark to protest over what it said was the "complete lack of results" in an investigation to identify who blew up the Nord Stream gas pipelines last year.

Russia summons Germany, Sweden, Denmark envoys over 'stalled' Nord Stream investigation

Oil prices fell on Thursday after Russian Deputy Prime Minister Alexander Novak played down the prospect of further Opec+ production cuts at its meeting next week.

Brent crude futures was down 41 cents, or 0.5%, to US$77.95 a barrel at 0815 GMT. US West Texas Intermediate crude (WTI) fell 51 cents, or 0.7%, to US$73.83.

Oil eases as Russia downplays additional Opec+ cuts

(May 25): Russian Deputy Prime Minister Alexander Novak said on Thursday that he expects no new steps from the Opec+ group of oil producers at its meeting in Vienna on June 4, Russian media reported, after the group announced a significant output cut earlier this year.

Russia's Novak does not expect new steps from Opec+ meeting

MOSCOW (May 25): Asian countries remain the lead destinations for Russian vacuum gasoil (VGO) and fuel oil exports after the European Union's embargo, traders said and Refinitiv data showed.

Asia gets most of Russian dark fuels after EU embargo

KUALA LUMPUR (May 25): Velesto Energy Bhd returned to profitability in the first quarter ended March 31, 2023 (1QFY2023) with a net profit of RM14.22 million or 0.17 sen per share, from a net loss of RM46.20 million or 0.56 sen per share a year ago.

Velesto returns to the black in 1Q as revenue surges four-fold

Oil prices rose over 1% on Wednesday, after a large unexpected drawdown in US crude inventories and a warning from the Saudi energy minister that raised the prospect of further OPEC+ production cuts.

Brent crude futures rose 90 cents, or 1.2%, to US$77.74 a barrel by 12.29pm EDT (1629 GMT). US West Texas Intermediate crude (WTI) gained 97 cents, or 1.3%, to US$73.88.

Oil prices gain 1% on falling US stockpiles, Saudi warning

Hibiscus Petroleum Bhd posted a net profit of RM71.51 million or 3.55 sen per share in the third quarter ended March 31, 2023 (3QFY2023), down 76.7% from RM307.54 million or 15.32 sen the previous corresponding period due to higher expenses, including deferred taxation, and absence of negative goodwill.

Hibiscus’ 3Q earnings tumble 77% on higher taxation, absence of negative goodwill

Oil prices rose on Wednesday (May 24) after data showed US inventories and fuel supplies tightening and following a warning from the Saudi energy minister to speculators raised the prospect of further Opec+ output cuts.

Oil prices up after bullish Saudi comments, falling US stockpiles

Saudi Arabia’s top energy official issued another warning to oil short-sellers, just over a week before the Opec+ alliance is due to meet.

Saudi energy minister tells speculators to ‘watch out’

Oil rose on Tuesday (May 23) as support from a tighter market outlook due to a seasonal rise in gasoline demand and supply cuts from Opec+ producers overshadowed investor concern over the risk of a US debt default.

Oil-gas

‌
‌

Oil-gas

‌‌

‌
‌