Marathon Oil Corporation (NYSE:MRO) today reported a second quarter 2020 net loss of $750 million, or $0.95 per diluted share.
Oil prices rallied to a five-month high buoyed by a decline in US crude inventory and due to perceived geopolitical risks following a massive explosion in the Lebanese capital.
If any place in North America should have been prepared for the crash in oil prices, it’s petroleum-rich Alberta, the Saudi Arabia of Canada.
Oil prices rose to their highest since early March on Wednesday after US crude inventories fell sharply and the dollar weakened, but mounting coronavirus infections had investors worried about the demand outlook.
The investigation into an explosion in the harbor of Lebanon’s port city of Beirut is focusing on how 2,750 tons of ammonium nitrate, a highly explosive chemical used in fertilizers, came to be stored at the facility for six years, and why nothing was done about it.
US equities rose on Wednesday as optimism around passing a second stimulus bill outweighed dismal jobs data.
Billionaire Mukesh Ambani’s oil-to-telecom conglomerate Reliance Industries has been ranked second biggest brand after Apple on the FutureBrand Index 2020.
Overseas Investors Chamber of Commerce and Industry (OICCI) shared the results of its Business Confidence Index (BCI) Survey – Wave 19.
The mayor of Haifa voiced concern on Wednesday that the “horror scenario” gripping Beirut could unfold in the northern Israeli port city, a day after blasts in Lebanon’s capital claimed the lies of at least 100 people and wounded thousands.
The agreement between the US based Delta Crescent Energy LLC and so-called “Syrian Democratic Forces” (SDF) under the direction of the YPG/PKK terrorist organization to extract and trade oil in the northeast of Syria is against international law, Mesut Hakki Casin, a professor of law at Istanbul’s Yeditepe University told Anadolu Agency.