Clorox, the world’s largest cleaning products maker stated yesterday, that one of their most popular items will not be fully in stock until next year. Clorox CEO Benno Dorer, stated that the company is struggling with the massive demand increase caused by the pandemic for their top selling product, disinfecting wipes. The fact that consumers […]
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The National Oil Corporation in Libya (NOC) is eager to reopen one of their main export hubs this week, marking the first movement from the OPEC member since oil terminals were placed under force majeure at the beginning of this year after the occupation of the Libyan National Army (LNA). As the blockade reaches into […]
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The country of Venezuela has battled through tumultuous times under United States sanctions, a poor refining network has caused gasoline shortages as well as political and social upheaval. Another country that has also been under similar scrutiny and sanctions from the United States for comparison is Iran. Over the past month, Iran has sent dozens […]
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On Monday, Venezuelan President Nicholas Maduro appointed his economy vice president, Tareck El Aissami as his new oil minister. El Aissami’s appointment comes at a time where the country has been dealing with hyperinflation, declining oil production, shortages on basic goods and sanctions from the United States. As if things could not get any more […]
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In the face of a global pandemic, millions of consumers are turning to alternative methods for receiving groceries and other products. As over 75% of Americans are under shelter-in-place orders, services such as Instacart, Amazon and Whole Foods have been essential resources as we adhere to social distancing. On Monday, workers at these companies expressed […]
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The Trump administration is not expected to grant the Chevon Corporation another waiver to operate in Venezuela as the United States begins planning to increase pressure through sanctions on the regime run by Nicolas Maduro. The most recent waiver granted to Chevron is the fourth instance that has allowed Chevron to operate in the South […]
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Last week, Iraq announced that they are holding a fifth bidding round for exploration and development of natural gas fields in the province of Diyala. Located in eastern Iraq, the fields of Diyala are expected to produce more than 750 million cubic feet of natural gas within the next three years. This latest round of […]
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Saudi Aramco had its long-awaited initial public offering (IPO) last week debuting on the Tadawul, Saudi Stock Exchange at a valuation of $1.88 trillion. Aramco’s public debut made it the world’s largest IPO ever, toppling the previous record holder Alibaba in 2014 when they raised $25 billion. When the market closed today in the capital […]
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Philadelphia Energy Solutions Inc (PES) announced Wednesday that they are shutting down operations within the next month after the explosion and fire that occurred in the early morning of June 21. The refinery is the oldest and largest on the East Coast of the United States that once produced 335,000 barrels-per-day. The cause of the […]
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President Trump stated Thursday night that the United States would begin a series of escalating tariffs on all Mexican imports beginning June 10th, unless Mexico and United States lawmakers take immediate steps to stop the flow of illegal immigration into the United States. The tariffs on imports would start at 5% in June and increase […]
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