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Omicron panic pummels equities, oil

Agence France-Presse
Posted at Dec 21 09:13 AM

Global equity and oil markets slumped Monday on investor panic over the impact of worldwide measures to contain the fast-spreading Omicron coronavirus variant. Read more »

IEA sees 'more comfortable' year for oil market in 2022

Agence France-Presse
Posted at Dec 14 06:31 PM

The Omicron variant will slow the recovery in global demand for oil but the market will be "more comfortable" in 2022, the International Energy Agency said. Read more »

Presyo ng petrolyo higit P2 ang bawas sa Disyembre 7

ABS-CBN News
Updated as of Dec 06 09:31 PM

Magkakaroon ng malaking rollback sa presyo ng produktong petrolyo sa Martes, Disyembre 7, ayon sa mga kompanya ng langis. Read more »

Presyo ng LPG bumaba sa pagpasok ng Disyembre

ABS-CBN News
Posted at Dec 01 11:30 AM

Bawas-presyo sa liquefied petroleum gas ang sumalubong sa unang araw ng Disyembre ngayong Miyerkoles. Read more »

OPEC+ meets under pressure from Biden and Omicron

Agence France-Presse
Updated as of Nov 30 01:28 PM

OPEC+ oil producers meet Thursday under pressure from US President Joe Biden, and a new Covid-19 variant that has complicated the equation. Read more »

November inflation seen within 3.3 to 4.1 pct: BSP

ABS-CBN News
Posted at Nov 29 05:24 PM

Inflation for the month of November likely settled within the 3.3 to 4.1 percent range, the Bangko Sentral ng Pilipinas said Monday. Read more »

OPEC postponses technical meetings to evaluate Omicron impact

Ahmad Ghaddar and Alex Lawler, Reuters
Posted at Nov 29 08:59 AM

OPEC and its allies have postponed technical meetings to later this week, giving themselves more time to assess the impact of the new Omicron coronavirus variant on oil demand and prices, according to OPEC+ sources and documents. Read more »

US leads other nations in releasing oil reserves vs OPEC

Timothy Gardner, Reuters
Posted at Nov 24 09:43 PM

The US will release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain, to try to cool prices. Read more »

Solon wants fuel excise taxes suspended despite dip in prices

ABS-CBN News
Posted at Nov 24 03:29 PM

A lawmaker still expects Congress to pass the bill suspending the increase in fuel excise taxes into law before Christmas despite the recent downtrend in oil prices. Read more »

US to release oil from reserves amid high prices

Timothy Gardner, Reuters
Posted at Nov 23 09:11 PM

The US said on Tuesday it would release 50 million barrels of oil from strategic reserves in a coordinated move with China, India, South Korea, Japan and Britain. Read more »

Japan working on release of oil reserves - sources

Ritsuko Shimizu, Yoshifumi Takemoto and Aaron Sheldrick, Reuters
Posted at Nov 22 03:53 PM

Japanese officials are working on ways to get around restrictions on releasing national reserves of crude oil in tandem with other major economies. Read more »

Dennis Uy a Duterte crony? Udenna president says 'No'

Jessica Fenol, ABS-CBN News
Posted at Nov 18 06:44 PM

Udenna Corp president Raymundo Escalona became emotional on Thursday as he faced members of the business community and the media. Read more »

Oil price rally set to ease off as supply rebounds, IEA says

ABS-CBN News
Posted at Nov 16 05:41 PM

An oil market rally may ease off as prices that hit a three-year high last month help push up global production, particularly in the United States, the IEA said. Read more »

Shell ditches the Dutch, seeks move to London in overhaul

Shadia Nasralla and Sachin Ravikumar, Reuters
Posted at Nov 16 08:20 AM

Royal Dutch Shell said on Monday it would scrap its dual share structure and move its head office to Britain from the Netherlands, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas. Read more »

Suspending fuel excise tax 'detrimental' to economy: DOF

ABS-CBN News
Posted at Nov 15 12:45 PM

Suspending fuel excise taxes to cushion the impact of rising gas prices is inequitable and detrimental to economic recovery, the DOF said. Read more »

Pilipinas Shell posts P3.4-B net income in 9 months

ABS-CBN News
Posted at Nov 12 09:54 AM

Pilipinas Shell Petroleum Corp on Friday said its net income recovered to P3.4 billion in the first 9 months of the year from the P13.9 billion loss in the same period last year. Read more »

House panel OKs bill reducing fuel excise tax

RG Cruz, ABS-CBN News
Posted at Nov 11 05:39 PM

A House panel on Thursday approved a bill proposing to reduce or suspend the excise taxes on petroleum products amid consecutive oil price hikes. Read more »

Phoenix Petroleum says net income at P170 million in Jan to Sept

ABS-CBN News
Posted at Nov 10 11:05 AM

Phoenix Petroleum said Wednesday its net income reached P170 million in the first 9 months of the year from a net loss of P95 million in the same period last year. Read more »

Oil spare capacity to drop as jets return: Aramco

Agence France-Presse
Posted at Nov 09 07:22 PM

Global oil spare production capacity could diminish next year as air passengers return to the skies, removing an important cushion that the market is currently enjoying, Saudi Aramco Chief Executive Officer Amin Nasser said on Tuesday. Read more »

Mga negosyante nangangamba kahit ekonomiya nagbubukas

ABS-CBN News
Posted at Nov 05 08:46 PM

Nangangamba ang ilang negosyante na mananatiling mahina ang kanilang benta kahit ilagay sa Alert Level 2 ang NCR. Read more »