S.Korean Oil Refiners Suffer Record Q1 Losses
May 13, 2020 00:55 am UTC| Investing
South Korean oil refiners posted a combined operating loss of 4.38 trillion won from January to March due to tumbling oil prices, sluggish refining margins, and the coronavirus pandemic. SK Innovation led all losers...
Oil price: futures markets warn it won't recover after coronavirus
May 04, 2020 13:46 pm UTC| Economy
West Texas Intermediate (WTI) crude went negative for the first time in history this month as oil traders got stuck between a mammoth oversupply and lack of places to store it. The international price of black gold remains...
Leverage Investments up by 34% in a Month
Apr 28, 2020 06:49 am UTC| Economy Investing
Leverage investments among small investors went up by 34.3 percent to 8.65 trillion won as of Thursday from 6.44 trillion won on March 24, according to the Korea Financial Investment Association. The increase was...
Korean Oil Companies Request Reduction of Charges on Importation, Sale
Apr 28, 2020 06:49 am UTC| Economy
Koreas Ministry of Trade, Industry and Energy is figuring out ways to cut charges related to the importation and sale of petroleum. A council is being set up with the oil refining companies, whose losses are estimated...
Helium supplies at risk from plunging oil prices – which is bad news for our coronavirus effort
Apr 26, 2020 05:18 am UTC| Business
Oil prices have plummeted as a result of the coronavirus pandemic. While the world needs far less oil than it used to, the decline in oil production will have a severe knock-on effect that could hinder efforts to combat...
BP paid a steep price for the Gulf oil spill but for the US a decade later, it's business as usual
Apr 24, 2020 05:01 am UTC| Economy Business
The largest offshore oil spill in U.S. history began ten years ago, on April 20, 2010. A massive explosion killed 11 workers on the Deepwater Horizon drilling rig, and a blowout spewed more than 3 million barrels of oil...
Oil Price Drop Making South Korean Shipbuilders Nervous
Apr 24, 2020 04:35 am UTC| Economy Business
Plummeting US oil prices and reduced demand for crude oil, and global shipments are making South Koreas shipbuilders jittery, causing them to put order plans on hold. For the first time in history, US benchmark West...
Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility
Labour can afford to be far more ambitious with its economic policies – voters are on board
Sudan: civil war stretches into a second year with no end in sight