Oil Soars As The U.S. Delays Trade War Tariffs

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Oil shot up more than 4 percent on Tuesday after the U.S. said it would delay the 10 percent tariff on some Chinese products, including laptops and cell phones. The move eased fears over the fallout from the trade war.  

Aramco profits fall, but still the most profitable company. Saudi Aramco held its first earnings call with investors on Monday, and also reported profits of $46.9 billion for the first six months of 2019. That was down 12 percent from the same period a year earlier, the result of lower oil prices. However, that figure still makes Aramco the world’s most profitable company. Still, as investors gauge the company, one of the biggest uncertainties is how Aramco pays dividends to the Saudi government. “We still don’t really have clarity on the dividend policy,” Willem Visser, a credit strategist at T. Rowe Price, told Bloomberg. Going forward “it will probably be in line with other oil companies at about 50% of net income.” Meanwhile, Aramco said it would invest $15 billion in India’s Reliance Industries.

China, India vehicle sales plunge. India’s vehicle sales in July plunged at the steepest rate in nearly two decades, part of a worldwide slowdown in auto sales. India’s GDP growth rate may be decelerating to a five-year low, according to Reuters. Meanwhile, China’s car sales continued to show weakness, with sales down 3.9 percent in July from a year earlier. That was the 13th consecutive monthly decline.

China could target U.S. oil. China is expected to slash its imports of oil from the U.S. as the trade war escalates. “I think it is a virtual shoo-in that volumes will slow to a trickle and may even grind to a complete halt,” Stephen Brennock, oil analyst at PVM Oil Associates, told CNBC via email.

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Exxon could exit the North Sea. ExxonMobil (NYSE: XOM) is considering a full exit from the North Sea, where it has been operating for more than 50 years. Exxon is hoping to raise $2 billion by selling off its assets in the British North Sea, as the oil major hopes to shift its focus to U.S. shale and other projects.

GM and VW to scrap hybrids focus on fully electric cars. GM (NYSE: GM) and Volkswagen say they will scrap production of their hybrid-electric vehicle models and instead focus investment on the array of fully-electric vehicles they have in the works. “If I had a dollar more to invest, would I spend it on a hybrid? Or would I spend it on the answer that we all know is going to happen, and get there faster and better than anybody else?” GM President Mark Reuss told the Wall Street Journal in an interview.

Oil company pivots into video games. The Houston Chronicle reported on the unusual transformation that a struggling oil and gas company made. Facing bankruptcy, Black Ridge exited oil and gas altogether and made itself into a video game company.

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Oil, gas and petrochemical projects at risk of U.S.-China trade war. China has promised tens of billions of dollars of investment in oil, gas and petrochemical projects in the U.S., particularly in Alaska, the Gulf Coast and Appalachia. But the trade war may prevent those investments from being realized, according to the Houston Chronicle.

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EPA issues waivers for refineries on ethanol. EPA rejected six applications from oil refineries for exemptions on the purchasing of ethanol, but it issued 31 approvals, effectively waiving 7.4 percent of requirements for 2018. Corn and biofuels groups condemned the decision, and the price of biofuels credits fell sharply. “The EPA has proven beyond any doubt that it does not care about following the law, American jobs or even the president’s promises,” ethanol trade group Growth Energy chief executive Emily Skor said, according to Argus Media. “Now farmers and biofuel producers are paying the price.”

Oil sands struggling to attract investors. Despite major reductions in operating costs, several major oil sands companies have struggled to lift their share prices. Executives say that general investors have fled the sector. Still, they hope that improved reliability and progress on the Trans Mountain Expansion could lead to a rebound.

Chevron starts CO2 capture. Chevron (NYSE: CVX) launched one of the world’s largest carbon capture and storage projects in Western Australia last week, near its Gorgon LNG project. The unit is expected to lower the project’s carbon emissions by 40 percent.

Russia’s foreign exchange to surpass Saudi Arabia’s. For the first time in eight years, Russia is on track to surpass Saudi Arabia in the size of its foreign exchange, a sign that Riyadh is faring much worse with lower oil prices. “OPEC can no longer ignore Russia because of its importance as an oil exporter and its economy,” Elina Ribakova, deputy chief economist at the Institute of International Finance in Washington told Bloomberg. “The Russians will continue doing just enough to engage with the Saudis on oil production.”

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Large-scale battery storage addresses the intermittency of renewables. The Wall Street Journal reports on the “global wave of investment in high-capacity batteries,” which it says could “transform the market for renewable energy…making it more practical and affordable to store wind and solar power and deploy it when needed.”

Investor pressure on climate change growing. According to Axios, a record number of investors are pressuring fossil fuel companies to reveal how climate change could affect their bottom lines.

Texas power demand hits a record high. Power demand hit a record high in Texas due to a heatwave.

Tullow makes Guyana discovery. Tullow Oil (LON: TLW) announced a significant discovery in offshore Guyana, potentially reaching over 100 million barrels of recoverable oil.

Oilprice.com 

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Oil Soars As The U.S. Delays Trade War Tariffs - Brand Spur

Emerging Stronger with Adaptable HR: Alight Solutions’ State of HR Transformation...

SINGAPORE - Media OutReach - 12 May 2021 - After releasing three insightful editions, we are delighted to bring to you the fourth edition of the Alight Solutions' State of HR Transformation Study in partnership with People Matters.


Oil Soars As The U.S. Delays Trade War Tariffs - Brand Spur


The study, which was launched during the People Matters TechHR SEA, is themed around Emerging Stronger and sheds light on how some organisations are ahead of the curve in emerging stronger. A key finding was the positive sentiment that organisations in Asia have for the coming 12 months. Amongst them, adaptable organisations have reported that they are 1.5 times more likely to see positive growth in revenues and profits. The HR function has certainly proved its mettle in this case and shown how well it can manage disruption and guide organisations to emerge stronger.

Last year, Alight brought forward the construct of Adaptable HR as a guide to navigating the increasingly uncertain business and talent landscape in the midst of the biggest crisis faced. Exploring the anchors of adaptability in HR functions, Alight has consistently observed that HR Operating Model (interchangeably referred to as HR Service Delivery or Business Model) plays an important role in driving confidence on execution and productivity. When complemented with the right HR technology strategy, the results are amplified further.

Talking about this year's study, Vikrant Khanna (Sr. Director and Advisory Lead at Alight Solutions), exclaimed, "We are delighted to see how Adaptable HR function led organisations are recovering from the impact of the pandemic. While there is still quite a bit of uncertainty in the environment, the construct of Adaptable HR acts as a lighthouse for organisations to emerge stronger."

This year, as we continue to face new challenges and uncertainties posed by the pandemic, Alight found that organisations with Adaptable HR are emerging stronger to:


Oil Soars As The U.S. Delays Trade War Tariffs - Brand Spur


Lead in being digital: Adaptable HR report twenty times the NPS on technology satisfaction as compared to market averages. This is due to the digital success enabled by leveraging HR Technology to complement the HR Operating Model. In addition, 50% of Adaptable HR have advanced along their adoption journey of robotics and cognitive technologies to drive efficiencies and improved experience for employees.

Enable shifts in the way we work: Adaptable HR functions are three times more likely to be proactive in driving institutional change, new ways of working, and adoption of work technologies. In fact, Adaptable HR functions report the use of up to 5 forms of work technologies. Factors that enabled quick adoption include investment priorities and the right efforts in helping adoption through investments in manager/ leader enablement.

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Reimagine HR: Adaptable HR functions are three times more likely to succeed in delivering closer partnership with the business through their operating model and capabilities. The specific capabilities demanded in Adaptable HR functions are what sets them apart and enables the organisation to be agile by design.

Shape and deliver value: Adaptable HR functions are almost three times more confident in their HR strategy and execution. This foundation and investment priorities enables them to be better equipped to address complexities and more proactive in responding to changes.

Oil Soars As The U.S. Delays Trade War Tariffs - Brand Spur


The world of work too has undergone drastic transformation in these times. Adaptable HR functions have proven that HR is truly at the forefront of shaping and delivering value to stakeholders, enabling us to adopt new ways of working, and enable digital success. Throughout this report, observations were shared in terms of how Adaptable HR organisations have paved ways for new co-creations and solutions for people and organisations to emerge stronger.

It is an accumulation of all individual behaviour changes and the larger organisation change which leads to business success. It is no surprise that organisations with Adaptable HR functions are 1.5 times more likely to have favourable growth in revenues and profit before tax in the coming 12 months.

Shaswat Kumar (Vice President and Asia Leader, Alight Solutions) shares, "This year's findings demonstrate that Adaptable HR function led organisations are likely to succeed in their change agenda. This will enable organisations, not only to compete better, but also to deliver the right value to its constituents and shareholders."

Certainly, the future belongs to organisations that are able to continue their journey of Adaptable HR, lead transformation and emerge stronger!

The State of HR Transformation 2021, is the fourth edition of the Alight Solutions' flagship study on this subject. The study data was captured between Jan 2021 and Apr 2021 through an online survey. The insights combine data captured via a survey that saw participation from over 1,700 respondents (which were filtered down to 1,022 based on completeness and accuracy of responses), and observations of Alight Solutions in the space of HR Transformation.


About Alight Solutions

With an unwavering belief that a company's success starts with its people, Alight Solutions is a leading cloud-based provider of integrated digital human capital and business solutions. Leveraging proprietary AI and data analytics, Alight optimises business process as a service (BPaaS) to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. Alight allows employees to enrich their health, wealth and work while enabling global organisations to achieve a high-performance culture. Alight's 15,000 dedicated colleagues serve more than 30 million employees and family members.


We deliver next level transformation at alight.com


Click here to download the exclusive report now. Let's emerge stronger together!

Oil Soars As The U.S. Delays Trade War Tariffs - Brand Spur
- Advertisement -
spot_imgspot_img

Latest News

Emerging Stronger with Adaptable HR: Alight Solutions’ State of HR Transformation Study 2021

SINGAPORE - Media OutReach - 12 May 2021 - After releasing three insightful editions, we are delighted to bring to you the fourth edition of the Alight Solutions' State of HR Transformation Study in partnership with People Matters.


Oil Soars As The U.S. Delays Trade War Tariffs - Brand Spur


The study, which was launched during the People Matters TechHR SEA, is themed around Emerging Stronger and sheds light on how some organisations are ahead of the curve in emerging stronger. A key finding was the positive sentiment that organisations in Asia have for the coming 12 months. Amongst them, adaptable organisations have reported that they are 1.5 times more likely to see positive growth in revenues and profits. The HR function has certainly proved its mettle in this case and shown how well it can manage disruption and guide organisations to emerge stronger.

Last year, Alight brought forward the construct of Adaptable HR as a guide to navigating the increasingly uncertain business and talent landscape in the midst of the biggest crisis faced. Exploring the anchors of adaptability in HR functions, Alight has consistently observed that HR Operating Model (interchangeably referred to as HR Service Delivery or Business Model) plays an important role in driving confidence on execution and productivity. When complemented with the right HR technology strategy, the results are amplified further.

Talking about this year's study, Vikrant Khanna (Sr. Director and Advisory Lead at Alight Solutions), exclaimed, "We are delighted to see how Adaptable HR function led organisations are recovering from the impact of the pandemic. While there is still quite a bit of uncertainty in the environment, the construct of Adaptable HR acts as a lighthouse for organisations to emerge stronger."

This year, as we continue to face new challenges and uncertainties posed by the pandemic, Alight found that organisations with Adaptable HR are emerging stronger to:


Oil Soars As The U.S. Delays Trade War Tariffs - Brand Spur


Lead in being digital: Adaptable HR report twenty times the NPS on technology satisfaction as compared to market averages. This is due to the digital success enabled by leveraging HR Technology to complement the HR Operating Model. In addition, 50% of Adaptable HR have advanced along their adoption journey of robotics and cognitive technologies to drive efficiencies and improved experience for employees.

Enable shifts in the way we work: Adaptable HR functions are three times more likely to be proactive in driving institutional change, new ways of working, and adoption of work technologies. In fact, Adaptable HR functions report the use of up to 5 forms of work technologies. Factors that enabled quick adoption include investment priorities and the right efforts in helping adoption through investments in manager/ leader enablement.

Reimagine HR: Adaptable HR functions are three times more likely to succeed in delivering closer partnership with the business through their operating model and capabilities. The specific capabilities demanded in Adaptable HR functions are what sets them apart and enables the organisation to be agile by design.

Shape and deliver value: Adaptable HR functions are almost three times more confident in their HR strategy and execution. This foundation and investment priorities enables them to be better equipped to address complexities and more proactive in responding to changes.

Oil Soars As The U.S. Delays Trade War Tariffs - Brand Spur


The world of work too has undergone drastic transformation in these times. Adaptable HR functions have proven that HR is truly at the forefront of shaping and delivering value to stakeholders, enabling us to adopt new ways of working, and enable digital success. Throughout this report, observations were shared in terms of how Adaptable HR organisations have paved ways for new co-creations and solutions for people and organisations to emerge stronger.

It is an accumulation of all individual behaviour changes and the larger organisation change which leads to business success. It is no surprise that organisations with Adaptable HR functions are 1.5 times more likely to have favourable growth in revenues and profit before tax in the coming 12 months.

Shaswat Kumar (Vice President and Asia Leader, Alight Solutions) shares, "This year's findings demonstrate that Adaptable HR function led organisations are likely to succeed in their change agenda. This will enable organisations, not only to compete better, but also to deliver the right value to its constituents and shareholders."

Certainly, the future belongs to organisations that are able to continue their journey of Adaptable HR, lead transformation and emerge stronger!

The State of HR Transformation 2021, is the fourth edition of the Alight Solutions' flagship study on this subject. The study data was captured between Jan 2021 and Apr 2021 through an online survey. The insights combine data captured via a survey that saw participation from over 1,700 respondents (which were filtered down to 1,022 based on completeness and accuracy of responses), and observations of Alight Solutions in the space of HR Transformation.


About Alight Solutions

With an unwavering belief that a company's success starts with its people, Alight Solutions is a leading cloud-based provider of integrated digital human capital and business solutions. Leveraging proprietary AI and data analytics, Alight optimises business process as a service (BPaaS) to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. Alight allows employees to enrich their health, wealth and work while enabling global organisations to achieve a high-performance culture. Alight's 15,000 dedicated colleagues serve more than 30 million employees and family members.


We deliver next level transformation at alight.com


Click here to download the exclusive report now. Let's emerge stronger together!

Oil Soars As The U.S. Delays Trade War Tariffs - Brand Spur
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