Business

Oil-Output Cuts Could Hit Russian Energy Companies

Oil-Output Cuts Could Hit Russian Energy Companies

OPEC and non-OPEC oil producers will meet again this weekend in Austria's capital to discuss the details of last week's agreement, which aims at an overall reduction in output of around 1.5 million barrels a day. Fourteen non-OPEC countries including Russian Federation have been invited to meet with the Organization of the Petroleum Exporting Countries in Vienna on Saturday to cement the pact.


Fyffes recommends 751 mln euro takeover by Japan's Sumitomo

Fyffes recommends 751 mln euro takeover by Japan's Sumitomo

Unlike U.S. rivals such as Chiquita, Fresh Del Monte Produce Inc and Dole Food, Sumitomo has very little geographical overlap with Fyffes . The business presently employs 17,000 workers and has a turnover of 1.2 billion Euros. According to initial reports, a lot of them are a "go" for this acquisition. The Irish firm has recommended the deal to shareholders and said 27% had backed it.



In age of Trump, GOP learns to embrace government activism

The Republicans' current plan is to vote to repeal Obamacare, and then delay ending most of the law's funding and payment mechanisms for three years as a means to avoid an immediate backlash. Donnelly will also be running in Vice President-elect Mike Pence's home state. U.S. Rep. Tim Ryan lost his longshot bid to Rep. Nancy Pelosi as House Democratic leader on November 30 by a 134-63 vote.



U.S. Oil-Rig Count Rises by 21 to 498, Baker Hughes Says

The hike in drilling activity is the first big change since the Organization of the Oil Exporting Nations agreed at the end of November to scale back oil production. ET. Year-on-year the United States rig count was down 85 from last year's 709, with oil rigs down 26, gas rigs down 60, and miscellaneous rigs up one.


Oil price up 1% on optimism over non-OPEC output cuts

Oil price up 1% on optimism over non-OPEC output cuts

Russian Federation will fulfill its pledge to cut production by as much as 300,000 barrels a day, if the Organization of Petroleum Exporting Countries follows through on its commitment to curb output to 32.5 million barrels a day from January, the official said, asking not to be identified in line with government policy.