EghtesadOnline: Italy’s top bank UniCredit SpA and two subsidiaries have agreed to pay $1.3 billion to US authorities to settle probes of violations of US sanctions on Iran and other countries, US authorities said on Monday.
EghtesadOnline: Venezuela is in chaos. Iran is grappling with US sanctions. And now there is a surge of violence in Libya. Trouble in these three OPEC nations has helped send US oil prices climbing back above $64 a barrel.
EghtesadPnline: Oil prices rose to their highest level since November 2018 on Monday, driven upwards by OPEC’s ongoing supply cuts, US sanctions against Iran and Venezuela, fighting in Libya as well as strong US jobs data.
EghtesadOnline: UniCredit SpA is nearing an agreement with US authorities over allegations that the bank provided dollar-clearing services to Iranian clients in violation of US sanctions, people with the knowledge of the matter said.
EghtesadOnline: Renewable energy demand and capacity are growing explosively.
EghtesadOnline: Japan's Tokyo Gas said on Friday it has signed a heads of agreement with Royal Dutch Shell for 500,000 tons per year of liquefied natural gas, with the purchase based partly on a coal-linked pricing formula.
EghtesadOnline: O il refiners are getting ready for a boom.
EghtesadOnline: O PEC is set to scrap its planned meeting in April and decide instead whether to extend oil output cuts in June, when the market will be able to assess the full impact of US sanctions on Iran and the crisis in Venezuela.
EghtesadOnline: Investments needed to ensure stability in the global oil industry are returning after a downturn, but the pace is still slow, OPEC Secretary General Mohammed Barkindo said.
EghtesadOnline: OPEC’s secretariat urged oil producers to keep going with efforts to prevent a surplus this year as supplies from their rivals increase faster than world demand.