Saudi Arabia said it plans to cut oil exports to all the regions it ships to next month as the kingdom and fellow OPEC nations press on with their effort to clear a global glut.
One of the world’s top energy importers, China, is set to roll out a yuan-denominated oil contract as early as this year. Analysts call the plan, announced by Beijing in September, a huge move against the dollar's global dominance. The so-called petro-yuan is a “wake up call” for investors who haven’t paid attention to the Chinese plans, according to the head of Graticule Asset Management Asia Adam Levinson, as quoted by Bloomberg.
Regardless of what local banks keep proclaiming, Lebanon has no oil or gas. There’s reason to believe it does, but the process of finding out is only just beginning. On September 15, companies will bid for rights to explore for oil and/or gas offshore Lebanon. Executive takes a look at what that means, what to expect next, and answers other commonly asked questions.