Crude oil is the world’s most actively traded commodity, and oil-related trades are a staple for traders, hedgers, investors around the globe.
The below infographic, put together by Aspect, covers the history of crude oil trading, while also highlighting the major events that have shaped the landscape of the oil market as we know it today.
A tyre fitter’s fingers have been partially amputated after an accident while operating a hydraulic bead breaker.
The incident, which occurred in April, happened whilst a tyre fitter was positioning a hydraulic bead breaker in preparation for breaking an inner tyre bead on a water cart at a West Australian mine.
PT Bruder Utama Nusantara (BUN) is pleased to announce a distributor agreement with DIECI S.r.l. Italy to carry their range of Telescopic Handlers, Self-loading Concrete Mixers and Dumpers in Indonesia.
The old adage, every cloud has a silver lining, could well be true. The current slump in global oil prices, which has shaken even the upstream oil and gas business, is in fact a golden opportunity for the sector’s development in Indonesia, if we take advantage of it.
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry’s Taxation Directorate General ( DJP ) has been dragging on since 2007, causing financial distress to mining firms alongside a 50 percent coal price slump over the past year. The price now sits as low as US$53 per ton.
Freeport-McMoRan Inc., the biggest publicly traded copper miner, is scaling back its energy business and continues to try to sell some oil and gas assets as crude prices rebound from 13-year lows.
Glencore has reportedly made a joint bid with Apollo to buy Anglo American’s Grosvenor and Moranbah coal mines. It comes just days after US billionaire Chris Cline was spotted touring Anglo American’s Moranbah coal mine, joining other rumoured interested parties such as BMA, X2 Resources, Glencore, private equity firm Apollo Group, and XCoal Energy.
New data Australian Government data is forecasting a healthy rise for iron ore and coal over the coming years.
In the Resources and Energy Quarterly, by the Department of Industry, Innovation and Science and the Office of the Chief Economist, the report posits an optimistic future and resurgence for the mining industry, albeit nowhere as strong as the previous boom.