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Reach Energy Berhad ("REB" or "the Company") ACCEPTANCE OF LOAN FACILITY OF USD6.4 MILLION (APPROXIMATELY RM30.3 MILLION) GRANTED TO SUB-SUBSIDIARY, EMIR-OIL LLP
On behalf of the Board of Directors of REB, TA Securities Holdings Berhad wishes to announce that Bursa Securities had vide its letter dated 16 April 2024 resolved to grant the Company an extension of time of 6 months up to 2 October 2024 to submit its regularisation plan to the relevant regulatory authorities for approval.
...Reach Energy Berhad (“REACH” or “the Company”) is pleased to announce that the Company’s sub-subsidiary, Emir-Oil LLP (“EO” or “Emir-Oil”) has accepted a loan facility of USD6.4million (approximately RM30.3million)(“the Facility”) offered by RG-HCPI Fund, a registered sub-fund of RG Strategy Fund VCC, incorporated in the Republic of Singapore,...well and good on the right track. .
.Crude oil prices have now risen for three months in a row and they may well still have higher to go. Among the factors driving them up, besides OPEC+ cuts, is a Russian supply decline as the country says it will not focus on reducing oil production rather than exports as it did in previous months in a mix of reductions per the OPEC+ agreement.
Meanwhile, some 1 million bpd in refining capacity in Russia is offline as a result of Ukrainian attacks, Reuters noted in its report, citing Energy Aspects as saying that "Geopolitical risks to crude and heavy feedstock supplies add to strong Q2 24 demand fundamentals."
..Saudi Aramco CEO Amin Nasser said Monday that the energy transition is failing and policymakers should abandon the “fantasy” of phasing out oil and gas, as demand for fossil fuels is expected to continue to grow in the coming years.
..March 8 (Reuters) - Oil prices rose on Friday, driven by growing demand in the world's biggest consumers, the United States and China, while the U.S. Federal Reserve gave a positive signal on the possibility of rate cuts.
Brent crude futures were up 0.7%, or 58 cents, at $83.54 a barrel by 0700 GMT. U.S. West Texas Intermediate crude futures rose 0.9%, or 69 cents, to $79.62.
